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Folly in 50 States and the World / Folly in Alabama

URL:  http://boards.fool.com/estate-transfer-and-tax--22808431.aspx

Subject:  ESTATE TRANSFER AND TAX ? Date:  7/27/2005  9:23 PM
Author:  math999man Number:  445 of 462

By this time - half of the people that are members of fool.com know that I am considering going into a property investment with my mother. My brother is also going to be a co-owner and he will be the only one living there. Myself and my mother will not live at the home.

The question comes up - what are the laws in AL regarding a home where there are several owners and one passes away.

In other states, the remaining owners take over full ownership. No issues.

However, in the same practice in AL ? - would the remaining owners take over the ownership ? Are any estate taxes that must be paid to the state of AL ?

Thanks for any input.

math999man
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