Please register to participate in our discussions with 2 million other members - it's free and quick! Some forums can only be seen by registered members. After you create your account, you'll be able to customize options and access all our 15,000 new posts/day with fewer ads.
I know nothing of real estate, taxes, etc. I own a second home (not our primary residence) that is paid for, and is vacant. My daughter and son-in-law own another home a few miles away and are paying off their mortgage. I'd like to trade homes. Do we need to treat this as sales? Or, is there anyway to avoid taxing, etc. The property values are approximately $50,000 difference. This would allow my daughter & husband to upgrade to a better home, and I could then rent their home out to our other daughter. Just wanted to know the legal issues.
{I think you can 'buy' each other's for like a $1.00. Another lifetime ago my ex & I sold some land to my Dad for just a buck, after he paid off the balloon we owed....}
Please register to post and access all features of our very popular forum. It is free and quick. Over $68,000 in prizes has already been given out to active posters on our forum. Additional giveaways are planned.
Detailed information about all U.S. cities, counties, and zip codes on our site: City-data.com.