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Updated about 1 year ago,
Tax in a Life Estate Sale
This is not a situation I have in front of me but I'm doing some exploratory thinking.
What if I was talking to an elderly couple that were concerned they would run out of money but want to continue living in the house, so they want to sell to me in a life estate. I do the actuarial math and we agree on a purchase price. How do the taxes work on this?