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Updated over 8 years ago,

Bobby Gillespie's profile image
Bobby Gillespie's profile image
Bobby Gillespie
  • from Tampa, Florida
  • Member since Mar 23, 2015
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22
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6
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Bobby Gillespie's profile image
Bobby Gillespie's profile image
Bobby Gillespie
  • from Tampa, Florida
  • Member since Mar 23, 2015
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Bobby Gillespie
  • Tampa, FL
6
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22
Posts
Tax, SDIRAs & Cost Segregation

Transfer of deed

Bobby Gillespie
  • Tampa, FL
Posted

My parents, who are UK citizens are selling their vacation home in Orlando... near Disney.

If they transferred the deeds to me and I paid them, would this be ok... legal? If so, what consequences tax wise etc?

The house was bought for about $120k back in 1993 and is valued for about $210k now. I'd hope to offer them say $180k which would net them as much as they would get if they sold it the conventional way.

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