Property inheritance?
831681
Generally the probate must be opened, for it is the probate court that gives authority to those executing the documents of conveyance.
20303
NO! YOU CAN'T .THE HOUSE HAS BEEN COUNTED AS PROPERTY THAT BELONGS TO BOOTH OF YOU (RIGHT!)THEN IF YOU SELL THE HOUSE YOU HAVE TO GIVE HALF OF THAT MONEY TO YOUR  EX HUSBAND AND YOU WILL GET STUCK WITH ANY MONEY YOU SPENT TO SELL THE HOUSE. SORRY!
1008273
You can do a like-kind exchange, where you trade the property for another, and defer your gain until you sell the new property. The rules are complicated--you should talk to a CPA.
72470
You make them a member of the company and will them your membership shares.  The basis of the transfer is based on your original basis in the stock (the cost).  Your childs basis becomes the value on the date of the inheritance/transfer.\n\nI believe this is how it will work (i could be wrong here), so you should check with a tax professional.
1075594
incomplete detail.\n\nIt was ancestral property ? When your father left India? When did he die.  it is a complicated issue. You may be entitled for share. \nHindu joint family acts like a trust. All the members are like members of the trust.  But succession law is quite complicated. \n\nyou need a real lawyer.
896356
Yep.  Property Taxes, Whether back or future.  Inheritance tax
50886
The cost basis is reset, but just on half of the stock.  Treat it as if each party owned half.  Half stays at the original cost basis and the other half is stepped up to date of death value of the portion (half) the surviving tenant "inherited."\n\nThere may be state inheritance taxes to be paid on half the fair market value at date of death, but other than that, no income taxes until the stock is sold.\n\nHowever, relying on Yahoo Answers for tax advice is. . well. . just look at the spelling and the caliber of most of the questions up here.
200714
The court's have contingencies for most problems....but it would be worth your time to talk to an attorney.  You may be able to petition the family law judge for a specific order authorizing you to transfer title to the home and sell the property without her signature.  Do it right the first time....it could be a legal nightmare if you sell the property without proper legal authority.
812345
I'm just going off the top of my head here without looking anything up, so just use my answer as a guide and not fact.  (Because staring at the code is factual, but sometimes doesn't get you very far in thought.)\n\nThe rental property.  Chop this up into three components - land, building and personal property.\n\nLand, as you know, is not depreciable.  But it should be listed as a separate component of the sale.  \nThe building is depreciable, but will also be under an additional code section, 1250.\n\nThe general rule starts with section 1231 property.  Then, depending on what it is, it might ALSO be 1245 property or 1250 property.  But just to keep things simple, think 1245 = equipment and 1250=buildings.\n\nBoth 1245 and 1250 pretty much say this: When you sell the asset, the amount over adjusted basis, up to the extent of depreciation taken, is ordinary gain.\n\nFor example.  I bought a piece of equipment a few years back for 10,000.  Tuesday, when I sold it, it had a tax adjusted basis of 1,000 (10,000 historical value less 9,000 of accumulated tax depreciation taken).  I collected 5,000.  In this case, ALL of my 4,000 gain (5,000 sales price less 1,000 adjusted basis) will be ordinary income.  \nLet's say I sold it for 12,000.  9,000 of my gain would be ordinary and 3,000 capital gains.  \nNow I'm babbling.  But in a nutshell, you are recapturing the depreciation expense at ordinary, just like you took the expense (over time).\n1250 for buildings has something similar, but not many have that issue anymore (unless they were purchased over a decade ago or so).  There is some special additional tax on the gain or special rate.\nBut the losses are ordinary, thankfully.\nAnd I feel like I'm getting off track here, but I'm trying.  :)\n\nBut onto the land.  It depends.  And perhaps this is where saying more info is needed might help.\nIf this is a separate piece of land accounted for seperately and Mary can prove that she wasn't going to improve anything, then there might be support for the claim that it is a capital asset and the gains are capital.\nHowever, that would be really agressive to me considering it saysing "holding for future development" and if there has been anything substantial done to the property.\nIn short, you will want to check out code section 1237 for reference too although it doesn't exactly fit your problem.\n\nAnd last but not least, I'll clog this answer with an Explanation nabbed from my own stuff.  Good luck on your research and forgive me for such a lengthy answer.  Usually I hate stuffed answers.  Cheers!\n\nReal property produces capital gain or loss on its sale or exchange if it's a capital asset. The main reasons for the exclusion of real property from the capital asset category are (1) that it's property held by the taxpayer primarily for sale to customers in the ordinary course of his business, and (2) that it's real property used in his business. Code Sec. 1221(a)(1) , Code Sec. 1221(a)(2) . However, the sale or exchange of real property used in a business (including rental realty), or the involuntary conversion of such property or real property that is a capital asset, can produce a Code Sec. 1231 gain or loss. \n\nThe fact that real property is held primarily for sale to customers in the ordinary course of a taxpayer's business precludes it from being either a capital asset or a Code Sec. 1231 asset (business-use property). Code Sec. 1221(a)(1) ; Code Sec. 1231(b)(1)(B) . The factual question of whether real property was so held gave rise to intensive litigation. Cases decided under Code Sec. 1231 are covered as part of the question of what property is used in a business. Decisions delineating property that is a capital asset are covered in this subdivision. The special rules of Code Sec. 1237 , allow taxpayers other than C corporations to obtain limited capital gain as to property subdivided for sale under certain circumstance
827647
Your best option would be to contact a local Title company or Real Estate Attorney.  Sorry I couldn't be of further help!
408396
Inheritance, and that is all by chance.
431814
No you cannot. In order to inherit from a person you must have a blood or legal relationship with him/her. When you divorce a spouse your legal relationship is void.
180903
A "grant deed" is the common form for this. There may tax implications by changing title. Consult a Real Estate Lawyer.
15765
Your father didn't inherit the house from probate  --  someone left it to him in a will, and it has come out of probate, he now has title, and wants to convert it to cash.  The house would probably be worth more to a prospective buyer, so they wouldn't have to go through the trouble of evicting you should you decide not to move.  Given your father's  inheritence windfall, he might be willing to pay your moving expenses (and more) to get you to mpve.  Laws vary by City and State.  Contact a local or nearby renters rights organization.  Sorry I can't help you more.  Good Luck.
898195
the result of fl is barr(if it is dominant) or else white.one main ground rule of inheritance is that it may be white or barr but one can be dominant only for 2 generations it's not the matter but in  the third gen.the recessive will take the turn
847980
Depending on how large the estate is, there could be estate taxes (but only if it's in the millions for federal) - if there are, those would be paid by the estate, not you.  There might also be state taxes involved, which again would be paid by the estate.\n\nIf you inherit assets, like stock or property, when you sell them you'd owe capital gains taxes on how much they've appreciated since you inherited them.  You should be given some sort of paperwork to show what the assets were valued at, at the time of death.  That becomes your basis.
654088
you'll have to take it before a probate judge or seek legal counsel first. more than likely it will be set that the house be sold at market value and the money be split between yall,but if there is any outstanding debts they have to be paid first then what ever is left be split