S
Seadog57
Guest
Several years back our Mother had a Warranty of Deed transacted which put my sister and myself as legal owners of her hours. This was done for the purposes of making things easier when she passed away. She had a stipulation put in that stated she could remain living in her home, until her death.
My mother is getting older and wishes to sell her home and move to duplex. We have been told that since legally the house in myself and my sisters names AND since we were not primary residents that we are out of luck on any capital gains advantage. And even if we do a Quick Deed or Warranty Deed back to our mother, technically they will say that mom just became of the owner of the home and the past 30 years count for nothing towards the capitol gains forgiveness.
Are our hands really tied?
My mother is getting older and wishes to sell her home and move to duplex. We have been told that since legally the house in myself and my sisters names AND since we were not primary residents that we are out of luck on any capital gains advantage. And even if we do a Quick Deed or Warranty Deed back to our mother, technically they will say that mom just became of the owner of the home and the past 30 years count for nothing towards the capitol gains forgiveness.
Are our hands really tied?