What is the name of your state? I live in WA state. Mother CA.
My father passed away in April 2004. my mother paid off his mercedes that is registered in both of their names. I have been driving the vehicle in WA, alhtough it is registered in CA. I am trading in the vehicle in WA to purchase another vehicle and my mother has signed the vehicle over to the dealership. Should she be on my car loan of the car I am purchasing to avoid the gift tax? Will she have a gift tax for signing over the vehicle to a dealership? What is the best route. Please help me!
Carisa
My father passed away in April 2004. my mother paid off his mercedes that is registered in both of their names. I have been driving the vehicle in WA, alhtough it is registered in CA. I am trading in the vehicle in WA to purchase another vehicle and my mother has signed the vehicle over to the dealership. Should she be on my car loan of the car I am purchasing to avoid the gift tax? Will she have a gift tax for signing over the vehicle to a dealership? What is the best route. Please help me!
Carisa