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re: What happens to homes when occupant passes?
Posted on 5/7/24 at 3:14 pm to Dawgfanman
Posted on 5/7/24 at 3:14 pm to Dawgfanman
quote:
There is a “stepped up basis” upon their death. It’s the value the day they died.
This is correct. We sold mothers house a few years ago. We didn't use a real estate agent. There was a 3 month difference between when we went under contract and closing. Kept it insured and utlities on until closing. We had no tax liabilty.
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