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GIFTING REAl ESTATE??
- Thread starter libby976
- Start date
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Say what? Is this a trick question?
The same number of times as in Punxsutawney: Once.
After it is gifted, the individual no longer owns it. Therefore, they cannot gift it again.
Gifting Realestate
Maybe you misunderstood me. the guy owns 6 houses. He's gifted 1 property to his mom already,and wants to gift a different real estate property to a friend of mine and gift another property to his sister, and he is selling the others.
How many times in Philadelphia Pa can a person gift real estate if they own multiple properties. He seems to think you can only gift 1 property even if you own several in your lifetime and I thought if you own several properties you can gift them all to anyone, but only 1 property every year.
Maybe you misunderstood me. the guy owns 6 houses. He's gifted 1 property to his mom already,and wants to gift a different real estate property to a friend of mine and gift another property to his sister, and he is selling the others.
How many times in Philadelphia Pa can a person gift real estate if they own multiple properties. He seems to think you can only gift 1 property even if you own several in your lifetime and I thought if you own several properties you can gift them all to anyone, but only 1 property every year.
Gifting Realestate
Maybe you misunderstood me. the guy owns 6 houses. He's gifted 1 property to his mom already,and wants to gift a different real estate property to a friend of mine and gift another property to his sister, and he is selling the others.
How many times in Philadelphia Pa can a person gift real estate if they own multiple properties. He seems to think you can only gift 1 property even if you own several in your lifetime and I thought if you own several properties you can gift them all to anyone, but only 1 property every year.
Maybe you misunderstood me. the guy owns 6 houses. He's gifted 1 property to his mom already,and wants to gift a different real estate property to a friend of mine and gift another property to his sister, and he is selling the others.
How many times in Philadelphia Pa can a person gift real estate if they own multiple properties. He seems to think you can only gift 1 property even if you own several in your lifetime and I thought if you own several properties you can gift them all to anyone, but only 1 property every year.
tranquility
Senior Member
I hesitate to answer because anyone who has accumulated so much property knows the rules regarding such, but a person can give away as much as he wants as long as it is not to defraud others.
Is there any reasoning beyond 1 property a year?
Is there any reasoning beyond 1 property a year?
CharlotteInvest
Member
how can someone defraud someone through a gift deed, because i am sort of curious?
tranquility
Senior Member
Even though this is a necroposting, I'll answer. If the giver owes money and gives the property away for less than fair market value, he has hurt the creditor. If intentional, it's fraud. (Medicare lookbacks and taxes can be issues too.)
CharlotteInvest
Member
i see, thanks tranquility.
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