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Updated over 5 years ago,
Tax question on Gift
First post here,
My fiancé owned a home with her ex husband. Her parents needed to take title in order for her to keep the home as she had no income at the time of divorce . Fiancé has made all of the mortgage payments, lived there, kept it up, etc.
I have been splitting the mortgage with her since I’ve moved in. We are now looking to upgrade.
My question is this: What is the easiest way to transfer title to my fiancé (parents are on board as they see it as her house), then Use roughly 200k of equity on the purchase of our new home with as little to no tax implications?
Any advice is welcome and we love in Los Angeles county, California.
Thanks