can dad sell me his house for $1.00 ?

[pmiller]

My dad has left Florida where he and wants to sell his home to my son.(he now resides in NJ with my sister) My son is trying to arrange financing and is taking too long for my father's liking. Can my Dad sell me the house for one dollar, so I can take it off his hands?(or can he just give me the house?) I will then resell to my son. This(between us)would be considered part of my inheritance. Thanks

 

[loku]

Gift of house

As you mentioned, your father can give you the house as a gift.