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Selling House To Son For $1

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bicool

Junior Member
transfering title of fathers house to son

What is the name of your state?ILLINOIS/FLORIDA
IF MY FATHER WHO LIVES IN ILLINOIS, WAS TO GIVE ME (AS A GIFT), THE HOUSE THAT HE HAS IN FLORIDA, WHERE I HAVE BEEN LIVING FO 14 YEARS PAYING PROPERTY TAX, INSURANCE, UP-KEEP AND MONTHLY RENT, WOULD WE HAVE TO PAY GIFT TAX OR ANY OTHER TAX?
THE MARKET VALUE IS $140,000.
i have had this quesrion out here for about a month and gotten no responces if you know why please tell me.
 
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