Posted on: 13th Dec, 2010 11:47 am
My mother has a fee tail estate. She wants to sell this property and divide up with my sister and I (heirs of her body?) Is there any way to do it. the lawyers say yes the title company says no.
Hi lucygirl!
Welcome to forums!
Once your mother sells off the property, she will receive a cash amount from the new buyer which can be divided between you and your sister. However, if your mother makes a profit from the sale of the property, she will be liable for paying capital gains tax.
Feel free to ask if you've further queries.
Sussane
Welcome to forums!
Once your mother sells off the property, she will receive a cash amount from the new buyer which can be divided between you and your sister. However, if your mother makes a profit from the sale of the property, she will be liable for paying capital gains tax.
Feel free to ask if you've further queries.
Sussane