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Old 10-22-2012, 09:01 AM
 
38 posts, read 70,691 times
Reputation: 24

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Long story short... we are not able to buy a house so family is going to try and help us out with this.
Basically they will buy the house and we will pay the monthly bills.

We are aware of situations where relatives have owned a home and all parties are listed on the deed, but when one of them dies the others have to pay inheritance tax.

In Indiana is there a way to get around this? A special way to put names on the deed or some right of survivor, land contract?

Any tips would be very helpful.

Thanks
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Old 10-22-2012, 10:32 AM
 
Location: Bloomington IN
8,590 posts, read 12,355,682 times
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You really need an attorney, but I suspect what you want is a deed where all parties are joint tenants with rights of survivorship. There maybe a type of trust that would hold the property that would also accomplish this. Again, you need some legal advice.

Free advice on legal/tax issues is worth what you paid for it.

A land contract is one way property can be sold.
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Old 10-22-2012, 10:52 AM
 
38 posts, read 70,691 times
Reputation: 24
I agree 100% that I need to consult a lawyer on this...just trying to gather ideas of what might work since just talking to a lawyer can be very expensive. I don't currently live in IN so trying to understand a bit better how laws there work.

Thanks for the reply.
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