What is the name of your state? AL
Is there a certain procedure that must be followed to transfer real estate by gift? Is a notorized letter sufficient? If the property is worth $22K for example, can one owner give $11K each to two people at once? Would it be wise to have an appraisal done prior to the gift or could the real estate tax assessed value be used? Thanks in advance for your reply.
Is there a certain procedure that must be followed to transfer real estate by gift? Is a notorized letter sufficient? If the property is worth $22K for example, can one owner give $11K each to two people at once? Would it be wise to have an appraisal done prior to the gift or could the real estate tax assessed value be used? Thanks in advance for your reply.