Homeowner sold personal residence. The deed had her and her two parents on it. She was the only one who lived there for 10 years as her personal residence. Does she still qualify for the whole exemption on the sale?
Thank you, Colmatt
Did the parents (1) pay for any of the house, (2) use the house, or (3) receive any of the proceeds?
Time for another round of "I've Got A Secret." How did the three parties take title? Joint tenants? Life estate and remainder? Tenants in common, with 10% to her and 90% to the parents? Or vice versa? How much of the sales proceeds did she receive? If not 100%, how much did the parents get?
Parents did not pay for any, did not use, and did not take any of the proceeds.
Thanks
You have clicked a link to a site outside of the ProConnect Community. By clicking "Continue", you will leave the Community and be taken to that site instead.