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Canadian with property in the US (gift?)

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C

cottager

Guest
Both parents very ill (I'm the only child). They have had a cottage in the US (Vermont) for 26 years but still live in Canada. Want to transfer property before death. 1) how do they transfer property? 2) Is there a tax that I will have to pay? 3) could it be a gift? 4) do I need a US lawyer to change deed? 5) how much would I expect a lawyer to charge me for this service? Would I have to go to a Canadian lawyer also? Any other info would be of big help.. I'm really all alone on this one... Thx.
 


T

Taxguy

Guest
>>4) do I need a US lawyer to change deed? 5) how much would I expect a lawyer to charge me for this service? Would I have to go to a Canadian lawyer also? <<

Yes.
Varies, but about $200-$300 (US)
Yes,...if you are concerned with Canadian legal/tax issues also.
 

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