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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Carol O'Brien, Danny Sneade and Beth Saifman
Keller Williams Realty
12008 South Shore Blvd., Suite 101
Wellington, FL 33414
Cell: 561-758-8593
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Carol and Danny have spent the last fourteen years dedicated to real estate sales, leasing and property management in Wellington, Royal Palm Beach, West Palm Beach and Lakeworth, Florida.

Beth Saifman serves as the Team's Buyers Agent. Beth has over five years real estate sales and leasing experience.

So, if you are considering buying or selling a home or would just like to have additional information about real estate, please do not hesitate to call or e-mail them.

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