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.
Answered on 3/03/07, 1:46 pm