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Personal Finance and Investing

Cicada

(4,533 posts)

10. You can decide what's fair

Reply to 3Hotdogs (Original post)

Mon Dec 14, 2020, 10:29 PM

Dec 2020

And there is no requirement that you be fair. If this were an exchange among unrelated parties the value of your retained life estate would depend on your life expectancies. How much would you pay for the upstairs? For the downstairs? After that valuation you can ca,curate the lesser value of downstairs limited to use for your joint lifetime.

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Fair price sell house to daughter? [View all] 3Hotdogs Dec 2020 OP

Anything More Than 20% Below Appraisal Is Risky sfstaxprep Dec 2020 #1

How about going on Zillow or Realtor.com and see other comparable homes..Look and see mitch96 Dec 2020 #3

Zillow & Realtor.Com Are Famously Unreliable At Times sfstaxprep Dec 2020 #6

Unreliable, yes and they have a section where you can see "sold home" and get those prices. mitch96 Dec 2020 #7

sell it at the fair market price. it will go up in value for them over time nt msongs Dec 2020 #2

Don't Forget About The Annual Gift Allowance sfstaxprep Dec 2020 #4

Not enough info FBaggins Dec 2020 #5

Two of my spouse's siblings bought the family cabin for fair market value LakeArenal Dec 2020 #8

Daughter stays upstairs, rent out downstairs... turtleblossom Dec 2020 #9

You can decide what's fair Cicada Dec 2020 #10