Legal Question in Real Estate Law in Ohio

home

can i sell my paid off house , no liens, no divorce , to my kids for a dollar


Asked on 3/03/07, 8:47 am

1 Answer from Attorneys
Robert Rosplock Rosplock & Perez

Re: home

Yes, but you should not without defining your goals. There are:

1. Gift tax implications.

2. Liability issues.

3. Capital gains issues when your children sell.

4. Potential Medicaid issues.

DO NOT do this without an explanation of the above issues.

Read more
Answered on 3/03/07, 1:46 pm


Related Questions & Answers

More Real Estate and Real Property questions and answers in Ohio