Posted on: 08th Apr, 2007 12:11 pm
lady bird deed in florida
Will we have to pay taxes on the gains of the property value from the orginal cost of the property, or will we be taxed on the capital gains from the current assessed valuation of the property.
Will we have to pay taxes on the gains of the property value from the orginal cost of the property, or will we be taxed on the capital gains from the current assessed valuation of the property.
is a ladybird deed legal in michigan?
Hi jackson,
As far as I know, ladybird deed is legal in Michigan. However, you should contact a real estate attorney in this regard and take his opinion.
Thanks
As far as I know, ladybird deed is legal in Michigan. However, you should contact a real estate attorney in this regard and take his opinion.
Thanks
For 2010, an individual who acquires property from a decedent (who died in 2010) can exclude $250,000 gain from sale of the residence. This assumes the deceased lived in the house 2 of 5 years. Presumably this is available to remainder of lady bird deed arrangement. See Internal Revenue Code section 121(d)(11).
Does NC allow the use of LADY BIRD DEED and if not what is the typical time and cost of a probate
Hi SandyA,
As far as I know, ladybird deed is acceptable only in the states of Florida, Texas, Ohio, California, and Kansas. It is not acceptable in North Carolina. In order to probate the will, you'll have to contact your attorney and he will let you know how much it will cost in your state and the required time to complete the process.
Thanks,
Jerry
As far as I know, ladybird deed is acceptable only in the states of Florida, Texas, Ohio, California, and Kansas. It is not acceptable in North Carolina. In order to probate the will, you'll have to contact your attorney and he will let you know how much it will cost in your state and the required time to complete the process.
Thanks,
Jerry
I am a Florida resident with a vacation home in Missouri. My mother transferred the deed of a farm to me in 2006 and I hope to sell it in 2010. Will I have to pay Missouri & Federal capital gains. She had owned the property for 40 years. The sales price is 300,000.
Hi precious,
If you are the present owner of the property and receive a profit from the sale of the property, then you will be liable for paying the capital gains tax.
Thanks
If you are the present owner of the property and receive a profit from the sale of the property, then you will be liable for paying the capital gains tax.
Thanks
Are these forms available on line - if so where?
Are they free or is there a fee?
Are they free or is there a fee?
Hi shadow,
Rather than going for the online forms, it will be better if you could contact an attorney and get the ladybird deed drafted from him.
Rather than going for the online forms, it will be better if you could contact an attorney and get the ladybird deed drafted from him.
Is the Lady Bird deed applicable in NJ? Is there any way to avoid probate in NJ? Also, have you heard of Lady Bird funds?? Thanks
Your query has been replied to in the given page:
http://www.mortgagefit.com/know-how/about49449.html
Take a look at it. Hope it helps you.
http://www.mortgagefit.com/know-how/about49449.html
Take a look at it. Hope it helps you.
is lady bird deed good in mich?
Hi may,
As far as I know, ladybird deed is not legal in Michigan. Nevertheless, you should contact a real estate attorney and take his opinion in this matter.
As far as I know, ladybird deed is not legal in Michigan. Nevertheless, you should contact a real estate attorney and take his opinion in this matter.
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