The Motley Fool Discussion Boards

Previous Page

Financial Planning / Tax Strategies

URL:  http://boards.fool.com/the-answer-may-depend-on-the-state-if-it-doesnt-30118370.aspx

Subject:  Re: Amateur legal opinions requested Date:  6/27/2012  10:38 AM
Author:  vkg Number:  116350 of 121095

The answer may depend on the state.

If it doesn't matter, then reporting it doesn't matter. Half interest in an older mobile home isn't going to be much.

I doubt that the transfer is exempt. States are very aggressive about equity in a primary residence. The claim is often deferred until the surviving spouse no longer lives in the house, but that is it.
Copyright 1996-2014 trademark and the "Fool" logo is a trademark of The Motley Fool, Inc. Contact Us