My wife and I have agreed to sell our house to our son. The bank-appraised value of the property is $700,000 and we are selling it to him for $340,000, which is the amount of the mortgage. How will the $360,000 be treated and are there tax consequences?
- What Estate Planning Documents Should I Have for My Child Who’s at College? November 15, 2019
- Steps to Take as a Parent’s Condition Takes a Turn November 14, 2019
- How Do I Change My Will? November 13, 2019
- Busy Professionals Need to Make Time for Retirement Planning November 12, 2019
- Be Prepared: Death Happens when We’re Not Looking November 11, 2019