Legal Question in Wills and Trusts in Georgia
Inheritance Tax
My mother left a house valued at $90,000 to her three grown children. Per the permission of the mother, one of the adult children has been living in the house for the past several years, rent free. She wants to buy the house from the siblings rather than selling the house. Would the siblings who received the money from the sale of the house from their sister be subject to Inheritance Tax? If the house were sold to a third party would the money from that sale be subject to inheritance tax to all three adult children?
Asked on 6/02/04, 2:27 pm
1 Answer from Attorneys
Charles W. Field
Charles W. Field, Attorney at Law
Re: Inheritance Tax
No, you have no inheritance tax problems here.
Answered on 6/02/04, 6:03 pm
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