The money in the checking account can be used for a new sweater, a Christmas gift for your mom, taking your girlfriend out to Mcdonald's (Things like that)- so be mindful of how much is in that budget and don't overspend it.

I would then quitclaim to him a portion equal to the annual financial gift exemptiion ($17k in 2023) every year he operates it effectively.

If they want to pay with a credit card, debit card, or gift card, there is a 2.75% transaction fee imposed by Visa or Mastercard. 

I bought this home as a Christmas Gift for my Wife who has always wanted to Flip Homes How did you find this deal and how did you negotiate it?

All contracts, options, or other devices not based upon a substantial consideration, or that are otherwise employed to permit an unlicensed person to sell, lease, or let real estate, the beneficial title to which has not, in good faith, passed to such party for a substantial consideration, are hereby declared void and ineffective in all cases, suits, or proceedings had or taken under this chapter; however, this section shall not apply to irrevocable gifts, to unconditional contracts to purchase, or to options based upon a substantial consideration actually paid and not subject to any agreements to return or right of return reserved.

I’ve been looking over reviews in our area and the highly reviewed places seem to speak of a gift basket about 50% of the time or so.

What kind of welcome gift do you leave for guests?

But oh man, when I think about some of the stuff I did after college with all the cash gifts we received, I have to cringe.

This could include decorations, special welcome gifts, or access to holiday events.5.

I could see that if the parents are say 95 and moving into assisted living and have sufficient assets to live on for the rest of their live then providing their heirs with a gift now wouldn’t seem like such a bad idea.