transfer of deed thro probate

Author Message
bad cat

Guest







Post Posted: Sun Sep 19, 2010 4:35 pm    Post subject: transfer of deed thro probate
Like
Dislike

recently my father has passed away and my sister has been named personal rep for my fathers estate. the property has not sold and my sister has informed me that the lawyer is drawing up papers for transfer of deed. this puts me at a very uneasy state as i'am not sure what will happen when 2 people hold the deed and does not agree on management. will i have to pay capital gains upon selling? Twisted Evil
_________________
Need help choosing the right loan? Get free consultation from community lenders/consultant
bad cat

Guest







Post Posted: Sun Sep 19, 2010 6:36 pm    Post subject: transfer of deed thro probate
Like
Dislike

from bad cat regarding transfer of deed thro probate, i forgot to include the state is montana.
Icon Mini Profile jameshogg
jameshogg




Joined: 20 Dec 2005

Posts: 12157
Location: Nevada
1221.05 Dollars($)
Post Posted: Sun Sep 19, 2010 9:29 pm    Post subject:
Like
Dislike

Hi Guest,

If you inherit the property and then sell it off and gain profits from it, then you will be liable for paying capital gains taxes.

Thanks
All times are GMT - 7 Hours
Page 1 of 1

 

Page loaded in 0.429 seconds.