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Tax Considerations >Not at ARMs Length

A sale of a house is just a sale, right? Not necessarily. If you are selling your house to your children or transferring title outside the open market, then the transaction may be characterized as "not at arm's length". Since such a transfer may have tax consequences, you should discuss it with a tax attorney or accountant before taking action.

The transfer of title to a son or daughter may cause the parents to lose favorable property tax treatment, require the payment of state gift taxes, or have other unexpected consequences. From a capital gains point of view, it may be more prudent for children to inherit property than to receive it as a gift. The disposition of any real estate should be considered within the entire framework of your tax and estate planning.

For answers to all your real estate questions, consult experienced professionals who are familiar with this area.

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Q	Which famous skilled mason laid the cornerstone of the Capitol Building in Washington, D.C. in 1793?
A	George Washington, the first President of the United States.
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The Rhodes Team, REALTOR®, real estate agents and broker for Flower Mound, Plano and Frisco Texas home listings, property and land for sale - NUMBER1EXPERT(tm)

The Rhodes Team
Keller Williams
3204 Long Prairie Road, Suite C
Flower Mound, TX 75022
18383 Preston Rd. #150 Dallas, TX 75252
Tel: 972-899-5600
Toll-free: 800-356-6659
Fax: 972-380-7971
Email: russellrhodes@NUMBER1EXPERT.com
Verna and Russell are a mother and son duo who have combined forces to provide superior services to their clients throughout Flower Mound, Lewisville, Coppell, Carrollton, Frisco, Plano, The Colony, Grapevine, Southlake, Argyle, Lantana, Double Oak, Highland Village, Corinth, Bedford, Euless, Corinth, Little Elm, Denton, Dallas, Trophy Club, Richardson, Allen and surrounding areas. They have over 30 years of combined experience and have sold over 2400 homes. Russell is dedicated to running the business in a way that pleases and brings honor to God. Their group, The Rhodes Team, is comprised of eleven licensed agents and two non-licensed members whose goal is to assist their clients with a servant’s heart. They are committed to providing first class service before, during and after the sale. They will be there when you need them. ALWAYS!

Allen, Argyle, Bedford, Carrollton, Coppell, Corinth, Dallas, Denton, Double Oak, Euless, Flower Mound, Frisco, Grapevine, Highland Village, Lantana, Lewisville, Little Elm, Plano, Richardson, Southlake, The Colony, and Trophy Club.

*Each office is independently owned and operated.

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