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transfer of deed thro probate

Posted on: 19th Sep, 2010 04:35 pm
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:
from bad cat regarding transfer of deed thro probate, i forgot to include the state is montana.
Posted on: 19th Sep, 2010 06:36 pm
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
Posted on: 19th Sep, 2010 09:29 pm
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