Posted by
Message
makersmark1
Auburn Fan
earth
Member since Oct 2011
6133 posts

Land transfers among family
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.



ALTiger
LSU Fan
Birmingham, AL
Member since Nov 2009
1699 posts

re: Land transfers among family
quote:

Timberland




Replies (0)
Replies (0)
30
hungryone
LSU Fan
river parishes
Member since Sep 2010
7703 posts

re: Land transfers among family
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.


Replies (0)
Replies (0)
21
lsujro
LSU Fan
BR
Member since Jul 2007
3022 posts

re: Land transfers among family
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?


Replies (0)
Replies (0)
00
first pageprev pagePage 1 of 1next pagelast page
refresh

Back to top

logoFollow TigerDroppings for LSU Football News
Follow us on Twitter, Facebook and Instagram to get the latest updates on LSU Football and Recruiting.

FacebookTwitterInstagram