What is the name of your state (only U.S. law)? NV
My parents are foreign nationals from Europe and they want to purchase a home here in NV with no mortgage (cash offer).
I will mostly be the one living in the house while they visit a couple times a year.
What would be the procedure for them to transfer the property over to me when they decide to do so? Would this be considered an inheritance and would I or would they have to pay any inheritance tax?
Thank you for your help!
My parents are foreign nationals from Europe and they want to purchase a home here in NV with no mortgage (cash offer).
I will mostly be the one living in the house while they visit a couple times a year.
What would be the procedure for them to transfer the property over to me when they decide to do so? Would this be considered an inheritance and would I or would they have to pay any inheritance tax?
Thank you for your help!