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Author: Zoe2k One star, 50 posts Add to my Favorite Fools Ignore this person (you won't see their posts anymore) Number: of 123153  
Subject: Re: Gift (update) Date: 8/21/2001 3:26 PM
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Well, my father's attorney responded via e-mail (I am astounded by lawyers who communicate!), telling me he no longer represesnts my father. So, not helpful. He suggested I could talk to my father (not an option) or see a tax professional... I've sent a note to a real estate agent locally to see if she can estimate the value of the property when my grandfather died, I guess we start there and work our way forward.

I don't see how that could have happened, since fair market value is virtually defined by the amount she could have realized upon sale. If anything, this method would tend to exaggerate the basis of your interest in the land (which was worth less than the land, because you had only a future interest), on the theory that your mother was more likely to have overpaid your father than underpaid him. --Bob
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