qprt: Creative Financing
- 06/09/10 06:59 AM
Under current tax law, an individual can gift up to $13,000 each year to any individual with no taxable consequences to anyone. If you and your spouse gift to your child and his or her spouse, that gift can total $52,000-a sizeable down payment. Couple this notion with one of the options below for creative financing: Life Estate:An estate whose duration is limited to the life of an individual (usually the party holding the life estate), and a legal arrangement whereby the "life tenant" during his or her life retains use (the rights to rents and profits), possession of the property … (3 comments)
Under current tax law, an individual can gift up to $13,000 each year to any individual with no taxable consequences to anyone. If you and your spouse gift to your child and his or her spouse, that gift can total $52,000-a sizeable down payment.
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