Brian Gerace after the close it’s sorta like a the day after the wedding in a marriage.

You will need to live In a state with community property state, be marriage, and it Won't work on a IRA account.

—The doctrine of the right of survivorship in cases of real estate and personal property held by joint tenants shall not prevail in this state; that is to say, except in cases of estates by entirety, a devise, transfer or conveyance heretofore or hereafter made to two or more shall create a tenancy in common, unless the instrument creating the estate shall expressly provide for the right of survivorship; and in cases of estates by entirety, the tenants, upon dissolution of marriage, shall become tenants in common.History.

It may have been inherited and that was when the change of ownership took place, it could have been a divorce and one person quit claimed off, or marriage where one was added to title.

I would definitely want proof of the marriage though; you might have a case where the marriage is just to give the foreign born person legal entry and once here in the USA they split up and guess who might be living in your unit all alone now ...

Check on that FHA thing... pretty certain that FHA limits you to having one (1) FHA insured loan at a time... http://portalapps.hud.gov/FHAFAQ/controllerServlet....As for living in a flip... a great way to test the marriage!

Hi guys, My question is about marriage and property given as a gift.

Now, I'm not sure exactly how marriage will fall into this, but it might be wise to seek the council of good tax and/or financial advisor - there may be certain tax advantages based upon when you purchase the properties in relationship to which tax year you get married and there may be certain advantages/disadvantages to purchasing property jointly vs individually. 

My question is would this be considered prohibited transactions by the IRS since I am technically related to her by marriage?

I have found in my marriage that communication and trust is everything.