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Tax Considerations >Not at ARMs Length

A sale of a house is just a sale, right? Not necessarily. If you are selling your house to your children or transferring title outside the open market, then the transaction may be characterized as "not at arm's length". Since such a transfer may have tax consequences, you should discuss it with a tax attorney or accountant before taking action.

The transfer of title to a son or daughter may cause the parents to lose favorable property tax treatment, require the payment of state gift taxes, or have other unexpected consequences. From a capital gains point of view, it may be more prudent for children to inherit property than to receive it as a gift. The disposition of any real estate should be considered within the entire framework of your tax and estate planning.

For answers to all your real estate questions, consult experienced professionals who are familiar with this area.

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Q	What U.S. state is home to the world's richest woman?
A	Alice Walton, daughter of WalMart's founder and heiress to $16.5 billion, lives on a ranch in the state of Texas.
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Jackie Lovett, REALTORŽ, real estate agent and broker for Marlborough, Hebron and Glastonbury Connecticut home listings, property and land for sale - NUMBER1EXPERT(tm)

Jackie Lovett
William Raveis Real Estate
218 New London Turnpike
Glastonbury, CT. 06033
Voice Mail: 860-760-3637
Office: 860-633-0111
Fax: 860-657-2039
Email: jackielovett@NUMBER1EXPERT.com
Email: lovettj@raveisre.com
Jackies years of experience in buying and selling real estate in all markets include first time buyers, luxury homes, new construction and antique homes. Jackie has consistently received the highest awards for Top Producer, Excellence in Customer Service, Top Listing and Selling Agent and Circle of Excellence in Relocation. She is proud of her coveted designations: GRI, Graduate of Real Estate Institute, CRS, Certified Real Estate Specialist, and SRES, Senior Real Estate Specialist. Customer Service at its best, knowledge, experience and integrity are what sellers and buyers are looking for in a real estate agent. That is what Jackie graciously delivers. Let Jackie help with all your real estate needs.

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