What is the name of your state (only U.S. law)? Wisconsin
Hello,
My family was living with my mother in law who passed away not too long ago. My wife and mother in law retained an attorny to file a transfer upon death dead for the house. My wife now wants a divorce and the house is up for sale. My soon to be ex wife is giving me some of the money from the sale of the house which she enhirited for the purchase of a house for myself as I will be keeping my children. My question is; what if any tax will I be forced to pay on the money or due to the fact that it came from a sale of a home and will be used to purchase a home how long do I have to do this?? There is apparently a four month waiting period before the divorce will be finalized and she wants to move out of the state before that happens, however; the mortage company tells me that I have to wait untill it is finalizd to get a new mortgage. Thanks for the time, Gforce598
Hello,
My family was living with my mother in law who passed away not too long ago. My wife and mother in law retained an attorny to file a transfer upon death dead for the house. My wife now wants a divorce and the house is up for sale. My soon to be ex wife is giving me some of the money from the sale of the house which she enhirited for the purchase of a house for myself as I will be keeping my children. My question is; what if any tax will I be forced to pay on the money or due to the fact that it came from a sale of a home and will be used to purchase a home how long do I have to do this?? There is apparently a four month waiting period before the divorce will be finalized and she wants to move out of the state before that happens, however; the mortage company tells me that I have to wait untill it is finalizd to get a new mortgage. Thanks for the time, Gforce598