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Valuation of propterty transferred with a Life Interest and recipient dies

Posted on: 09th Oct, 2008 03:26 am
My wife inherited property from her father. She in turn Quit Claim Deeded the property back to her mother so she could live on the property and pay the taxes. The property was valued at the time of transfer from father to daughter. Mother died. How is the property transfered back to my wife and when and how is it valued after mothers death?
File a certified copy of the death certificate with the county where the property is located.

Property valuation is a difficult concept. For what reason are you valuing the property?
Posted on: 09th Oct, 2008 07:29 am
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