Legal Question in Real Estate Law in Massachusetts
Can a piece of real estate be transferred, rather than sold, to someone other a relative?
Asked on 4/26/17, 5:15 am
1 Answer from Attorneys
Yes, but it will be a deemed a gift and a gift tax return should be filed as a result of the transfer. Depending upon the age and the mental state of the grantor, the transfer could be challenged by the family assuming there are children or grandchildren or siblings who have a reasonably good relationship with the grantor of the property. I would consult with an attorney before doing anything to make sure what you intend to do is proper.
Answered on 5/05/17, 1:12 pm