- My Forums
- Tiger Rant
- LSU Recruiting
- SEC Rant
- Saints Talk
- Pelicans Talk
- More Sports Board
- Fantasy Sports
- Golf Board
- Soccer Board
- O-T Lounge
- Tech Board
- Home/Garden Board
- Outdoor Board
- Health/Fitness Board
- Movie/TV Board
- Book Board
- Music Board
- Political Talk
- Money Talk
- Fark Board
- Gaming Board
- Travel Board
- Food/Drink Board
- Ticket Exchange
- TD Help Board
Customize My Forums- View All Forums
- Show Left Links
- Topic Sort Options
- Trending Topics
- Recent Topics
- Active Topics
Started By
Message
Land transfers among family
Posted on 12/7/18 at 9:04 am
Posted on 12/7/18 at 9:04 am
1. Any tax implications? This is brother to sister, but complicated by mother signing over to brother’s wife prior to death. So technically, it’s deeded in her name.
2. Insurance for raw land? I could see a hunting or ATV accident.
3. Out of state ownership hassles?
Property valued at $100K. Timberland.
2. Insurance for raw land? I could see a hunting or ATV accident.
3. Out of state ownership hassles?
Property valued at $100K. Timberland.
3
Posted on 12/7/18 at 9:23 am to makersmark1
quote:
Timberland
Posted on 12/7/18 at 10:19 am to makersmark1
There is no “technically”.....if indeed ownership was transferred to brother’s wife (is this what you mean by “signed over”?), then she has an ownership in the property. Figure out this part first.
Posted on 12/7/18 at 10:40 am to makersmark1
1. Yes, there are tax implications. Could be a gift. How was it "signed over" to the brother's wife? That's not really a thing.
2. I would always recommend insurance. Should be cheap.
3. No issue for out of state other than doing everything by mail. You need a local attorney. Where is the property located?
2. I would always recommend insurance. Should be cheap.
3. No issue for out of state other than doing everything by mail. You need a local attorney. Where is the property located?
Page 1 of 1
Popular
Back to top
Follow TigerDroppings for LSU Football News