Posted on: 01st Dec, 2009 01:42 pm
there are an unkown number of heirs and the property is worth $53,000.
Hi veemtaylor,
If you are transferring the property as a gift to your brother, then you would incur the gift tax liability. However, there are certain exemptions. To know more about gift tax exemptions, check out the given link:
http://www.mortgagefit.com/gift.html#111114
If you are transferring the property as a gift to your brother, then you would incur the gift tax liability. However, there are certain exemptions. To know more about gift tax exemptions, check out the given link:
http://www.mortgagefit.com/gift.html#111114