This is not and would not be a gift, and claiming it's a gift when it's not so that the seller doesnt have to pay taxes is tax fraud.

What it is: Live-testing a prototype of a potential product our team has been working on in exchange for a $50 Amazon gift card.How it works: We’ll schedule a one-hour video call, where you’ll go through the prototype, share your honest reactions, and answer some specific questions.If you’re interested and available on either 9/10 (Wednesday), 9/11 (Thursday), or 9/12 (Friday), please start by filling out our quick screener survey here.

Acquiring property from your parents can be a wonderful opportunity, and there are a few paths you might consider exploring.First, you could discuss the possibility of a gift of equity, where your mother gives you the condo as a gift, potentially allowing you to avoid some costs involved in a traditional purchase.

Looking to schedule under delayed financing exception, from the lien being recorded, paying it off at closing, and the transaction mimics a cash purchase.Concerning the property transfer would be filed as form 709 (life time gift exception) from the current owner to me.As well as the note is receivable, essentially they are lending me money secured by the property.

Looking to schedule under delayed financing exception, from the lien being recorded, paying it off at closing, and the transaction mimics a cash purchase.Concerning the property transfer would be filed as form 709 (life time gift exception) from the current owner to me.As well as the note is receivable, essentially they are lending me money secured by the property.

I started getting involved with Mexican contracts more than 20 years ago so I have the gift to see all the mistakes and issues even the best lawyer miss.

A lot of people have opportunities like this in front of them but hold back because there’s so much to learn when getting into real estate.From a tax perspective, here are a few things to keep in mind as you get started:Gifting and cost basis: Since the property was a gift, your cost basis is usually what your dad originally paid, not the $30K you gave him.

If someone’s solid, I’d rather keep them happy than roll the dice on a new tenant every year (and deal with two months of no rent + repairs like you mentioned).We also send $25-$50 gift cards during some holidays just to keep it more "humanly" than business.

Moving every two years and selling your house tax-free is the best gift ever from the IRS.

If you’ve got a large portfolio already → Revisit trust planning and gifting strategies ASAP.I’m curious are any of you restructuring existing properties into trusts now that the SALT cap and estate exemption changes make it more attractive?