My sister and I inherited my mother's house after her death two years ago.
The home is paid for. The final estate taxes were done last year. The title is now under my sister and myself. I am now proceeding with the buyout, giving my sister half the value of the home.
My husband and I have spoken to a loan officer who says that the government will tax this type of transaction, and that I should speak with an attorney to be sure those fees are taken off the top of the estate.
My sister says that all of the States fees should have been done when probate ended last year, and the final estate taxes were completed, and that this is just a transaction between the two of us. My sister spoke with someone in finance and said we should be able to refinance the home and only be responsible for transfer of title, and lender fees.
I am trying to reach the attorney to confirm this, but he seems to be constantly in meetings or out of town. Hope someone can help.
The home is paid for. The final estate taxes were done last year. The title is now under my sister and myself. I am now proceeding with the buyout, giving my sister half the value of the home.
My husband and I have spoken to a loan officer who says that the government will tax this type of transaction, and that I should speak with an attorney to be sure those fees are taken off the top of the estate.
My sister says that all of the States fees should have been done when probate ended last year, and the final estate taxes were completed, and that this is just a transaction between the two of us. My sister spoke with someone in finance and said we should be able to refinance the home and only be responsible for transfer of title, and lender fees.
I am trying to reach the attorney to confirm this, but he seems to be constantly in meetings or out of town. Hope someone can help.
