Legal Question in Real Estate Law in New York
Question regarding real property transfer in New York City
I am carrying a $600k mortgage on my primary residence, which has an estimated market value of $700k. I would like to transfer the property to my adult daughter while minimizing the cost of transaction, ie property transfer tax, mortgage recording tax, gift tax, etc. Please let me know if you have any advice or suggestions. Thank you!
1 Answer from Attorneys
Re: Question regarding real property transfer in New York City
We handle these types of matters regularly, however, we would need some more information before making a complete and proper determination. You are welcome to contact us for a free consultation.
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