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.

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Answered on 5/16/09, 1:48 pm


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