Also, I’d be sure to understand the implications of the transfer of the title on tax base. I believe that you should be able to assume their tax base, which would be a very good thing, but I’d be sure to read all the rules to make sure that I didn’t miss something and fail to qualify for that tax base transfer.[/quote]
Really good points. $$ can really ruin relationships!
As far as the tax base you are talking about…
Can you fill me in on that? I think what you are saying is there is a way to pay taxes based off what my in-laws pay instead of the higher rate I would be paying as if I was any random buyer?
