posted: Mar. 27, 2008 @ 12:37p 
my dad give me a house and i want to know if i need somebody to do paper work for me or i can do it myself. Thanks
my dad give me a house and i want to know if i need somebody to do paper work for me or i can do it myself. Thanks
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dealkk said:my dad give me a house and i want to know if i need somebody to do paper work for me or i can do it myself. ThanksU seim liek u rite go0d.
d0 !t yerself.
Send over the paperwork, I'll do it for free.
Ok it sounds like what you are asking is
"My Dad wants to give me a house I'm wondering what paperwork needs to be done?"
Well you need at the very least a real estate lawyer and a title company in order to transfer the title into your name. Also the tax implications will be there since the house is likely valued at too much for a gift. If dad has passed then even more ensues. Basically get a great real estate lawyer and be prepared to pay taxes on the income you are being given on the house value (think 25% of the house value)You need to leaglly transfer the place and also avoid the max legal amount of tax.
Children can't own homes. Tell him to wait another 6-8 years.
dealkk said:my dad give me a house and i want to know if i need somebody to do paper work for me or i can do it myself. Thanks
Did your dad gave you this house:
dealkk said:my dad give me a house and i want to know if i need somebody to do paper work for me or i can do it myself. Thanks
you can do paperwork
1. Learn english
2. Do paperwork
3. Profit!
Firedrake said:1. Learn english
2. Do paperwork
3. Profit!
Hey, all three steps! I'm writing this down, usually I have to fill in the "???" gap and end up using hookers, but never get to the last step for some reason...!
afeld said:Firedrake said: 1. Learn english
2. Do paperwork
3. Profit!
Hey, all three steps! I'm writing this down, usually I have to fill in the "???" gap and end up using hookers, but never get to the last step for some reason...!
1. Learn english
2. Hookers
3. Profit!
Step 1 must be tough, pimpin aint easy after all.
I thought this would be a thread about adoption, foster parenting etc.
Oh, well, I guess it's because I am not a native speaker and my English is limited...
dealkk said:my dad give me a house and i want to know if i need somebody to do paper work for me or i can do it myself. Thanks
Just ask your dad to take care of it for you.
Ecuadorgr said:I thought this would be a thread about adoption, foster parenting etc.
Oh, well, I guess it's because I am not a native speaker and my English is limited...
I thought the same thing too, I hope this guy's dad only gave him a play house...
if anyone is seriously knowledgeable on the topic, I have always wondered what the best way to plan a transfer/inheritance (regarding a home) from a parent to child to maximize financial wealth:
1) If you hold in joint tenancy, can you use a stepped up cost basis on the home upon the death of one joint owner (in this hypothetical the parent)? hoping this would avoid probate
1.5) If not, how do you plan so that one will receive the stepped up cost basis upon death?
2) Does a stepped up cost basis result in a reassessment for property tax values (which offsets part of the benefit of stepped up basis)?
3) Does the $250k/$500k cap gains exclusion apply when sold from a parent to a child?
Still going at it eh?
gizmoduck said:Still going at it eh?
archived thread
Busted!
win333 said:gizmoduck said:Still going at it eh?
archived thread
Busted!
yah just ask your friend how he worked it out.
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