2nd house as a gift

[Allan]

I am in California. My parents want to give their 2nd home to me and my sister as a gift the property is free and clear and is worth $180,000 what is the best way to do this to avoid or minimize any taxes.

 

[HomeGuru]

<BLOCKQUOTE><font size="1" face="Verdana, Arial">quote:</font><HR>Originally posted by Allan:
I am in California. My parents want to give their 2nd home to me and my sister as a gift the property is free and clear and is worth $180,000 what is the best way to do this to avoid or minimize any taxes. <HR></BLOCKQUOTE>

You need to consult with a tax attorney or CPA.