Legal Question in Wills and Trusts in New Jersey
Selling house to neice before Aunt passes away
My Aunt and I have been very close and I have been helping her for many years. She is sick now and does not have very long to live .
She would like me to give her house to me before she passes.
away rather than leaving it to me in her will.
If this is not possible what is the smallest amount of money she can sell it to me for in the State of New Jersey.
2 Answers from Attorneys
Re: Selling house to neice before Aunt passes away
She can do it either way. However, there are tax consequences that need to be discussed with an accountant and legal issues that need to be discussed with a lawyer. Issues include other relatives and value of her estate. Does she have a will now?
Call my office and I can give you better advise either on the phone or in person. Mention LawGuru and the first meeting or call is free.
Re: Selling house to neice before Aunt passes away
You need to sit down with a lawyer and see whether it is better if she makes a gift to you, or better by Will. probably by gift, but I need more info to advise her. And there are other things to think about too, other relatives may be an issue.
If you would like, give me a call; I am in Hackensack (northern New Jersey). I will be happy to discuss
this with you; a brief telephone consultation will be free.
My contact information can be obtained from the links below, just click on the Attorney Profile link. Let my secretary know you found me through LawGuru.
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