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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. See All Tips In The "Tax Considerations" Category > See Complete Library Of Hundreds Of Tips In 30+ Categories >

Q  Who received the largest land grant ever given to an English subject for only two beaver skins per year? A  William Penn, the Quaker leader, received Pennsylvania and Delaware to settle a debt owed his father by King Charles II. See More Real Estate Trivia >

Debra Zimmer and Sherry Zimmer Coldwell Banker Residential Brokerage 2151 Lemoine Avenue Fort Lee, New Jersey 07024 Cell: 201-982-2339 Fax: 201-461-6509 dzimmer@njrealestate.com szimmer@njrealestate.com " We provide top service before, during and after the sale of your home or business" www.ZimmerRealtyTeam.com is brought to you by Debra Zimmer and Sherry Zimmer NUMBER1EXPERTS™ in real estate for Fort Lee, Tenafly and Edgewater, New Jersey Read Debra Zimmer and Sherry Zimmer's Privacy Guarantee, Terms of Service, and Free & Without Obligation Pledge

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