Gifting Land - how is this done |
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foodeefish
Contributing Member
Cash: $ 6.00
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Joined: 07 Feb 2004
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Gifting Land - how is this done |
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My wife and I would like to gift to a relative and his wife a piece of land. We paid $44,000 3 years ago for the land. It is now worth $58,000.
I know we can gift $12,000 to each of them which menas gifts of $48,000 per year. How and when do we sign the land over to them and how is this done.
Thnx
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Wed Jan 23, 2008 9:28 pm |
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pf101
Senior Member
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Location: Portland, OR |
Yeah $48k is right. 12k to each from each.
But the land part makes it complicated. I'd talk to an expert on that one.
Personal Finance 101
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Wed Jan 23, 2008 11:34 pm |
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joshonjoice
New Member
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Joined: 02 May 2011
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Other may be simply to attract a written permission from the family / write partition. Then submit this document to the land registration office premises. I do not think there is any problem. A copy of the saved document may be given to the registration fee for the entry of people of the land to its name.
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Mon May 02, 2011 1:48 pm |
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