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gift

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rip56 Guest	Posted: Sat Apr 30, 2011 8:24 am    Post subject: gift Like 0 Dislike 0 my mother gave me all her assets upon her death,a house and small amount of cash,i am the poa and beneficary of her will,however i dont want the house.i loaned my mom some money to help buy her house years ago,but i could recover my loan with the cash portion,i want to gift the house worth about 120000 to my sisters,what is the easiest way to get this done,we all live in texas _________________ Need help choosing the right loan? Get free consultation from community lenders/consultant
adonis Joined: 22 Oct 2005 Posts: 10574 Location: ALASKA 1090.82 Dollars($)	Posted: Sun May 01, 2011 8:04 pm    Post subject: Like 0 Dislike 0 Welcome rip, You can use a warranty deed or a gift deed in order to transfer the property to your sister. However, as you're gifting the property to your sister, you'll be liable for paying off the gift taxes. _________________ Procrastination is the enemy of your financial success

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