Travel and Leisure Travel and Leisure

My parents own a home that's jumped 600% in value and is worth $500K. I want them to sell it to me for cheaper and avoid tax issues. Who can help?


Published on 2025-03-20 10:21:38 - MarketWatch
  Print publication without navigation

  • Have an issue with your financial adviser or looking for a new one? Email questions or concerns to picks@marketwatch.com.

The article discusses a scenario where an individual wants to buy their parents' home, which has significantly appreciated in value from $75,000 to $500,000, at a price lower than its current market value to help them avoid capital gains tax. The parents, who have lived in the house for over 50 years, are considering selling due to their age and the maintenance costs of the property. The individual seeks advice on how to legally and financially manage this transaction. The article suggests consulting with a real estate attorney or a financial advisor to navigate the tax implications, explore options like a family sale at a reduced price, or consider estate planning strategies such as a life estate or a trust to minimize tax burdens while transferring the property.

Read the Full MarketWatch Article at:
[ https://www.msn.com/en-us/money/real-estate/my-parents-own-a-home-that-s-jumped-600-in-value-and-is-worth-500k-i-want-them-to-sell-it-to-me-for-cheaper-and-avoid-tax-issues-who-can-help/ar-AA1BiDrj ]