Legal Question in Real Estate Law in California
Grant Deed a short sell house back to owners
My friends want to help us by buying our short sell house but intend to deed the house back to us in 5 years.
- Will they or we have Tax consequences?
- Will we have problems with the lender when they know that we get the house back?
Asked on 5/16/09, 12:14 pm
1 Answer from Attorneys
George Shers
Law Offices of Georges H. Shers
Re: Grant Deed a short sell house back to owners
Certainly the lender will have a valid complaint that you tried to cheat them out of the balance of the loan by making a phoney short sale. You and your friends have committed a fraud if you do these. And yes there would be tax consequences but I will not go into them because you are asking us to approve an illegal act.
Answered on 5/16/09, 1:48 pm
Related Questions & Answers
Looking for something else?
10,200 active attorneys ready to answer your legal questions today.
Featured Attorneys
Earn additional revenue and grow your business.
