Legal Question in Real Estate Law in Florida

My father recently passed away. he and my mother had two rental properties in Florida that are in their 5th year of a 30 year "interest only" mortgage. They are rental properties. Their estimated worth is $150-160k each. My Mother now wants to "gift" the two properties to my sister and me. Together, they might have $30 or 40k of equity. I live in Michigan. I�m very unsure of all the work and legal (taxes) costs that I might have to cover. Does a realtor have to be involved with the �gifting�? (the 7% fee) Thanks, Matt


Asked on 9/15/09, 9:46 pm

1 Answer from Attorneys
David Slater David P. Slater, Esq.

No, but speak with an accountant regarding the tax implications. The actual transfer can handled by an attorney.

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Answered on 9/16/09, 11:08 am


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