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Old 07-07-2005, 09:06 AM
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Join Date: Jul 2005
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HELP! Cash Sale- gift deed??

What is the name of your state? Georgia
I am selling my home to my brother-in-law who lives in California. He is paying cash for the home- sending a check to my mortgage company- then giving me cash on the side as my profit. My question is-
would it be legal for him to mail me a check- and for me to mail the money in to pay off the mortgage- and then do a gift deed to him so neither of us have to pay sales taxes?? I am completley oblivious to the whole sale of property thing- and dont want to do anything illeagal- but would also like to keep as much profit as I can.
any advice would be great!
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Old 07-07-2005, 10:21 AM
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Join Date: May 2000
Location: Catatonic State
Posts: 75,781
Quote:
Originally Posted by fairyprncesleah
What is the name of your state? Georgia
I am selling my home to my brother-in-law who lives in California. He is paying cash for the home- sending a check to my mortgage company- then giving me cash on the side as my profit. My question is-
would it be legal for him to mail me a check- and for me to mail the money in to pay off the mortgage- and then do a gift deed to him so neither of us have to pay sales taxes?? I am completley oblivious to the whole sale of property thing- and dont want to do anything illeagal- but would also like to keep as much profit as I can.
any advice would be great!

**A: oh brother, use an escrow and title co.
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