Theone2432
Junior Member
What is the name of your state?What is the name of your state?CA
Hello, if the desedents estate sells the real property in probate will the estate have to pay taxes? If so, will it be on the difference from amount at purchase or from court appraisal? Is there an exemption? What is the amount, if any? The property was originally purchased for $10K (1978) and is selling for $800K. However, it was apprasied at only $340K by the court probate appraiser 6 months ago. It seems to me that the appraisal must have been wrong. The contract was signed about a month after receiving the court appraisal.
Your thought...
Thanks!
Hello, if the desedents estate sells the real property in probate will the estate have to pay taxes? If so, will it be on the difference from amount at purchase or from court appraisal? Is there an exemption? What is the amount, if any? The property was originally purchased for $10K (1978) and is selling for $800K. However, it was apprasied at only $340K by the court probate appraiser 6 months ago. It seems to me that the appraisal must have been wrong. The contract was signed about a month after receiving the court appraisal.
Your thought...
Thanks!