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Author: tm55 Add to my Favorite Fools Ignore this person (you won't see their posts anymore) Number: of 121570  
Subject: Hunting Land, Inheritance, & Taxes Date: 4/23/2004 11:01 AM
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Here is my question:

My Grandfather (who passed away last week) bought some land in the "country" back in the 70's. A few years ago he put the property in both of our names.

What do I do now?

Also, if I want to sell it, or a portion of it, how will the tax from the sale be figured? From the time my name was added to the deed? From the date he died?

He told me I could sell the land anytime I wanted to after he put my name on it, but he loved going out there to "tinker around". I couldn't sell it then & I really don't want to sell it now but it isn't a good piece of property to build & really only good for hunting or "tinkering around". I do hunt there (a lot), but it isn't fair to my wife & kids to keep the property, they don't use it and we could use the money for college, retirement investing...

I would appreciate it if someone could get me started in the right direction.

Thanks
Tom (in Michigan, if it make a difference)
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