I have a tenant that has violated the rental agreement two too many times. I certainly have enough reason to evict him, but would like him to think it is his idea rather than risk evicting him and ...
The house is listed at 88K. I have been out of college for 1 1/2 years. My credit score is around 630 and have been employed with the same company for over a year. My gross income from my full ...
I am 15 turning 16 on march 28. My fiance is 14 turning 15 june 17 we want to have a apartment payed for by the time im 18 because thats when we are planning on getting married so thats like 2 years ...
I signed a contract with a real estate agent 4 months ago to sell my house.(It is a 1 year contract) She has not been showing the property. No open house and the information on line is not accurate, I...
think about it most 18 years old are not gonna have 2 years of credit history...and alot don't have good terms with there parents....i know alot of timesthey get roomates...so if one person ...
My husband is in the military, and so right now we are living on base housing. We both work, so we can save some money for our down payment on a house. We both have pretty good credit and were not to ...
I recently moved into a 3 bedroom terrace house (rented from Leeds City Council) and am having difficulties with my television reception. Upon inspection of the aerial on the roof of my house, I ...
Figuring out if a bank will finance me to buy a second home for investment purposes. I know of a rental for sale. I don't have a lot of liquid assets and not a lot of equity in my current home....
Somebody please help. My older sister has a severe neurological disorder. She has to move into an assisted living facility because she cannot live alone. She has been living at UNT in a dorm while ...
I bought a house 2 years ago. At the time I didn't even notice that there is a power pole in the backyard. Is this something I can collect rent for? I have a friend who negotiates with ...
I am in Georgia and I am looking to buy my first home. I have really bad credit, and no money to put down. Is there any place out there that can help me?...
YOu will be responsible for any sales or transfer tax. Dad could incur some heat from the IRS at tax time, it would be in his best interests to talk with an acountant about the best way to convey title to you without creating a hefty income tax burden for himself.
sandra g
If taxes are owed one of you will have to pay them. Any taxes after the sale you will have to pay yearly since will be in your name.
Marysue
He would have to pay the property taxes up until the day the sale closes.
PJ
You would be responsible for the taxes.
b_plenge
You would be responsible for taxes on the home, which the IRS would take as the houses market value not the sale price.
Your dad would be liable for taxes on the additional $1 income, unless he got the home for free then current tax law allows him up to a $500K nontaxable profit on the sale of his primary residence. Odds are the $1 won't change his income taxes at all.
Little Tyme
Yes taxes are always included in the sale of a home.
like_ceriously
they have taxes for everything, even those little machine-gumball things hahaha
TeriAnn
Check and make sure that he can sell it to you for $1.00, banks may frown upon the amount ??
Debra Erics
That's why a home is never truly owned. As long there are annual taxes being paid it's not really purchased. You continue to make payments.
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