J
Joe T
Guest
Hi, thanks for your time.
I am considering making an offer on a piece of property located in the Indianapolis area that will be presented as a land contract. The property is coming out of probate in a few weeks and the executor would like to sell. My question is: what tax ramifications does he face on a contract sale? will the estate tax be imposed at the time the contract is signed or postponed until the contract is satisfied. Also, is ther any benefit (tax wise)to the seller to sell via contract deed.
thanks, JT
I am considering making an offer on a piece of property located in the Indianapolis area that will be presented as a land contract. The property is coming out of probate in a few weeks and the executor would like to sell. My question is: what tax ramifications does he face on a contract sale? will the estate tax be imposed at the time the contract is signed or postponed until the contract is satisfied. Also, is ther any benefit (tax wise)to the seller to sell via contract deed.
thanks, JT