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?

Some late comments.DOS - Legally an option might trigger DOS depending on the DOS clause.

Attention;It is my pleasure to introduce my self, first am Hon.Dr.Kwabena Duffour, the current Minister of Finance and Ecomice Planing (M.O.F.E.P.)Republic of Ghana West Africa.I want to used this medium to inform you that at the moment i have $3.5,Million United State Dollars, that is already in a bank in London awaiting to be invest in any profitable business legitmatly in any part of the world.So therefore do not hesitate to notifly me with numbers of any profitable business that i can invest this fund into and i will get back to you after my proper verrification, then i shall choose the one to invest my fund into legally with the assistance of my lawyer.N.B.Please do forward all reply to this E-mail address; [email protected] Regard,Hon.Dr.Kwabena Duffour.

Originally posted by "REI":In some states judges have overturned deals where the investor buys from the borrower and then rents it back to the (now past) owner.Any more details you can share on the legal grounds for overturningthese deals?

What legal recourses could the sellers possibly take against me?

Is there a way to set it up so that I get taxed pertaining to whichever state that I decide to establish my LLC and not California, and is this even legal to do so?

This deal is not much money in terms of a loan, so I don't see why you couldn't do it that way, excluding any legal restrictions on the load.I'll let the mortgage experts weigh in on that point.Good Luck,Jason

A short is your best bet because even though all the fines and legal charges have been accumulating the lender will normally go short to keep it from going into inventory.

How much interest can you legally deduct?

Well, I honestly dont know what sparker my interest, but since I can remember, i wanted to be a realtor.Then i read the E-book "Rich jerk real estate investing"I was a pretty cool thing to me, i could work with real estate before being 18 and getting myself a license(with my mom doing all the legal work, of course)I dont have a specific deal yet, im still trying to convince somone to let me wholesale their property, no one really seems interested :blush: Also, thank you very much for all your kindness, i can tell this will be a very helpful place.