Would there be any legal issues if I was to sell my house to my sister-in-law for $100 bucks then rebuy it back to avoid paing the taxes on the big gain i've had so far?

My sister-in-law told me that there are lots of properties for sale and a few large developments that look like they've halted construction (she does not know why).

my sister was talking about this when she bought her house & i wanted to know how it all works any info would help.

I have a sister and 7 nieces and nephews that live in Alaska.

And Loki005, it was an honor to serve.Thanks for the reply and I talked to my dad and he said "that it is an honor to have his brothers and sisters in arms working togethere to keep america a safer place"!

Even though there is one PR, all three sisters are on the title, therefore all three have to agree to the sale.

I used to live with my sister's apartment without knowing that the real landlord of that house she rented was dead...sometimes we hear of a child laughing at 12 midnight,we haven't any baby or child in the house and we even experienced that there is someone's watching us....our apartment has 4 bedroom, with basement.

:wink: noticed your sig....my mom is interested in buying near portland (i think an hour north last time i checked)...i don't think she's going to be able to go right away but i might have to look you up whenever she gets to that point. which actually reminds me of a thought i had earlier. my mother and sister i HOPE HOPE HOPE are moving out here to tucson for a couple of years or until she sells her home in MO and she is a stay at home mom even though i am married and my sister is in college so i am hoping to hire her on as my project manager and benefit us both!

My mother is executor and the money from the sale will be divided up amongst her and her sister.

My 2 sisters and I inherited our mothers condo in 2005, put the property into our names in 2006, we decided to form a LLC in 2007 for tax purposes, now we need to file taxes for 2006, 2007 can 2006 be filed under the LLC.