Updated over 6 years ago on . Most recent reply
Transfer from Family member
Hello everyone I have a question regarding the best way to transfer property within a family so the the previous family member gets proceeds for transitioning to a senior citizen community. Quick background on the property about 130k is owed on the property and in the condition it's in it may sell for about 180. The basement has a serious water leak issues but other than that just updating of kitchen, flooring and bathroom and paint are needed. My first choice was quit claiming the property then I perform needed repairs. After the repairs I would refinance out the money to give back to my family member what they would have recieved from a normal sale. I am open to any suggestions. Help is gravely needed.