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transfere of deed

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Shirley Guest	Posted: Sun Feb 13, 2011 8:10 am    Post subject: transfere of deed Like 0 Dislike 0 My father wants to put the deed in my name. There is still 8,000 owned on the property. is this possible and will it prevent us from having to pay inheritance tax when he passes away
adonis Joined: 22 Oct 2005 Posts: 10574 Location: ALASKA 1090.82 Dollars($)	Posted: Sun Feb 13, 2011 10:51 pm    Post subject: Like 0 Dislike 0 Hi Shirley, If your father transfers the property to you as a gift, then he will be liable for paying the gift taxes. I don't think you'll be liable for paying inheritance tax. But it will be better if you can contact a tax adviser and take his help in this matter. _________________ Procrastination is the enemy of your financial success

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