Legal Question in Real Estate Law in Pennsylvania
My Father gifted commercial property to my siblings and I nine years ago. He filed a gift tax return proving his intention to do so. Problem is the deed was not transferred by the accounting firm that handled the transaction. Now he just transferred the deed over to a Nephew. We have the original gift tax return signed by my Father, as well as the accountant who is willing to testify his intent nine years ago. What to do?
1 Answer from Attorneys
How can you make a gift and file a gift tax return without actually making the gift? To make a gift of land it has to be conveyed to the donee by recording a deed.
If there was no deed evidencing the conveyance then there was no gift. Is your father still alive? Can he rescind the transaction to the nephew and complete the gift?
You need to see a real estate litigation attorney - maybe you can sue the nephew if your father is no longer alive.
Related Questions & Answers
-
How soon can a mortgage company evict you after a sheriff sale? Asked 6/01/13, 10:42 am in United States Pennsylvania Real Estate and Real Property