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Transfer or Sale of Home

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tmmgreen Joined: 04 Apr 2009 Posts: 1 1.52 Dollars($)	Posted: Sat Apr 04, 2009 8:21 am    Post subject: Transfer or Sale of Home Like 0 Dislike 0 My father needs money. He lives in South Carolina...and has offered to sell his home to me. What is best way to avoid as much paper work, tax issues, and protect my interests from family who might protest.
adonis Joined: 22 Oct 2005 Posts: 10242 Location: ALASKA 1042.50 Dollars($)	Posted: Sat Apr 04, 2009 10:49 pm    Post subject: Like 0 Dislike 0 Hi tmmgreen, He can sign a quitclaim deed to transfer the property to you. However, if there is any profit from the sale of the property, then he will have to pay capital gains tax on that. If he sells off the property to you with proper documentation and if the deed is recorded in the county recorder's office, then no-one can object to it. _________________ Procrastination is the enemy of your financial success
adonis Joined: 22 Oct 2005 Posts: 10242 Location: ALASKA 1042.50 Dollars($)	Posted: Sat Apr 04, 2009 10:54 pm    Post subject: Like 0 Dislike 0 Hi tmmgreen, He can sign a quitclaim deed to transfer the property to you. However, if there is any profit from the sale of the property, then he will have to pay capital gains tax on that. If he sells off the property to you with proper documentation and if the deed is recorded in the county recorder's office, then no-one can object to it. _________________ Procrastination is the enemy of your financial success

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