Message Font: Serif | Sans-Serif
No. of Recommendations: 0
Thanks a lot for your previous responses to my various

At this time my husband and I are considering taking advantage of the gift tax laws to transfer assets to our son and his wife. The asset in question is appreciated real estate which they are presently renting from us. I understand an appraisal is necessary before issuing a grant deed for a percentage ownership
equivalent to $ 40'000. max. per year. If we continue
this pattern in subsequent years, will it be necessary
to have appraisals each year, so the percentage reflects the latest and possibly changed value of the

In our area with high real estate values, this process
may take quite a number of years before they are 100%
owners and we have successfully transferred an entire
asset without incurring capital gains tax on the appreciation. Do you have any other suggestions on
accomplishing this goal (we don't want to move into it
ourselves for two years!)?

Thanks very much.
Print the post  


In accordance with IRS Circular 230, you cannot use the contents of any post on The Motley Fool's message boards to avoid tax-related penalties under the Internal Revenue Code or applicable state or local tax law provisions.
When Life Gives You Lemons
We all have had hardships and made poor decisions. The important thing is how we respond and grow. Read the story of a Fool who started from nothing, and looks to gain everything.
Contact Us
Contact Customer Service and other Fool departments here.
Work for Fools?
Winner of the Washingtonian great places to work, and Glassdoor #1 Company to Work For 2015! Have access to all of TMF's online and email products for FREE, and be paid for your contributions to TMF! Click the link and start your Fool career.