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Subject:
Transferring or putting the land back in my name
Category: Business and Money > Finance Asked by: cozycactus-ga List Price: $25.00 |
Posted:
21 Dec 2005 15:34 PST
Expires: 20 Jan 2006 15:34 PST Question ID: 608657 |
I bought a 40 acre parcel of land at Stagecoach trails in Arizona back in 1998. I doing ok when I bought it but then after 9/11 work was hard to find and was having a hard time and had my mother in Oklahoma pay off the second half. She just bought it and put it in her name. I just wanted to save it is all. Later I found out that I would have to claim personal BK. I was discharged almost a year ago, and we both are trying to figure out how to put it back in my name wihtout it being a big deal. 1. How does she do it or how is it done? 2. And without incurring gift taxes or other taxes? 3. can she sell it for dollar? I have no idea. 4. A living will? 5. Is there a simple way of going abou this? It was around $26,000 for the parcel and has gone up to I think around a little over a hunrded thousand. I live in CA |
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