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Join Date: Mar 2001
Location: Rocky Top, TN
Posts: 6,937
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Mommy giving me her house?

Mommy just bought a house in FL a few months ago.
Daddy in law just passed.
So Mommy is moving in with me in TN.
That leaves an empty house in FL.
House is not paid off and she still owes about what they paid for it.
We could sell it, but with real estate fees, closing, plus the ~$10k in closing she just paid, she would most likely take a loss on it.
We are considering renting out the house, with or without a property manager.
I am trying to decide if it is worth it to put the house in my name, or keep it in her name.
Inheritance versus gifting, seems inheritance is better?
My google fu is confusing me.
Anybody deal with this?
Any advice?
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Old 01-06-2021, 11:29 AM
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