Legal Question in Real Estate Law in Indiana

I had a lease hold commercial property rented . i want to divide the property in 3 names in my family for the purpose of saving income tax. kindly suggest that a share of lease hold property can be gifted , petition before the court or any relinquishment for the purpose of income tax.


Asked on 9/20/11, 9:40 pm

1 Answer from Attorneys
Kenneth Wilk Rubino Ruman Crosmer & Polen

It can be gifted or deeded. No court necessary. But you should consider a trust to cover issues such as control of the property and to whom it passes after death of any of the 3.

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Answered on 9/26/11, 5:24 pm


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