T
teekee_13
Guest
I live in California, my parents would like to transer the title of their home to me. I was wondering what the tax implications were and what legal documents were necessary to complete this transaction. Also, are their any pros and/or cons to transferring the title as opposed to inheriting it.
The value of the house is approx. $500K. It was purchased by my parents in 1980 for $120K. We all reside in the house. I am over 21 and am employed.
Thanks!
The value of the house is approx. $500K. It was purchased by my parents in 1980 for $120K. We all reside in the house. I am over 21 and am employed.
Thanks!