Installment sale to minimize taxes?Master lease?Option contract?

[Daniel S.]

I have a wealthy client that would consider selling me a building in the East Bay Area. Currently it’s in a trust that will go to a family member for a life estate. Once that family member passes it will go to charity. Another property will go to a friend (same situation). This person is open to taking this one I want out of the trust and selling to me potentially as an installment sale if it helps her avoid paying taxes. I’m looking for a win-win scenario for both parties. Could the installments go to her until death and then go to a family member after that without a taxable event? (Or at least much lower taxes?) One person gave me a different idea of doing a master lease on the property along with a lease option contract to purchase for a set price upon death. For example, I could offer to pay the same amount she is currently collecting in rent (or more depending on what we negotiate). I can control the property and do improvements knowing I am protected by my lease option contract. I would prefer that any payments I make would go to paying down principal. Thoughts? Thanks in advance!