Legal Question in Real Estate Law in Pennsylvania

Re: Quick Sales

The transaction as you describe it would be considered a gift as the consideration paid is not fair market value. This has possible tax implications for a future sale. the real question is why you made the transfer. If it was done to avoid certain legal obligations to avoid creditors etc it may be considered a fraudulant transfer which could have serious legal consequences. I do not have sufficent information therefore to answer your question other then to say it appears that the transactions was done in a legal manner. Whether it could be challenged as a transfer to avoid some other obligation goes beyond the facts presented.