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Tax Considerations >Not at ARMs Length
A sale of a house is just a sale, right? Not necessarily. If you are selling your house to your children or transferring title outside the open market, then the transaction may be characterized as "not at arm's length". Since such a transfer may have tax consequences, you should discuss it with a tax attorney or accountant before taking action.
The transfer of title to a son or daughter may cause the parents to lose favorable property tax treatment, require the payment of state gift taxes, or have other unexpected consequences. From a capital gains point of view, it may be more prudent for children to inherit property than to receive it as a gift. The disposition of any real estate should be considered within the entire framework of your tax and estate planning.
For answers to all your real estate questions, consult experienced professionals who are familiar with this area.
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What was the location for the classic silent movie scene where Harold LLoyd dangles from a huge clock high above the city?
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That scene from "Safety Last"was filmed at the Brockman Building, one block south of the Biltmore Hotel in Los Angeles. |
 See More Real Estate Trivia > |
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The Hokanson Group
Keller Williams Realty Southern Oregon
1025 Court St.
Medford, OR 97501
Direct: 541-772-SOLD (7653)
Text: 541-772-7653
Fax: 541-608-0448
Office: 541-608-0447
Jared@TopSouthernOregonAgent.com
Relax! Let Jared and his team do the work for you. The Hokanson Group is one of the top realtors in the Medford, Jackson County, Rogue Valley Area because they does business the old fashioned way, they take care of their clients and their clients refer their friends. We are continually in the pursuit of WOW for our clients.   
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