If i were to buy my sisters out, would we save money?
2006-11-01 05:56:44 · 4 answers · asked by Mary S 1 in Business & Finance ➔ Taxes ➔ United States
I think that would be a good question directed to a attorney just to be safe
2006-11-01 05:59:50 · answer #1 · answered by silverearth1 7 · 0⤊ 0⤋
If you plan to sell to your friend either way, I doubt you would save anything by buying out your sisters share first. Taxes and fees should be the same selling to a friend as if you sold to a stranger. Any Real Estate Agent or Real Estate Attorney should be able to answer your questions. You need one to do the paperwork properly anyway. If you don't get the paperwork right, it is likely to cost you both more than the attorney would.
2006-11-01 20:09:02 · answer #2 · answered by STEVEN F 7 · 0⤊ 0⤋
always fees, transfer fees , escrow fees, transaction fees, wire fees just to name a few. Buying your sister out- cash out- then have your sister quick claim it over to you. This saves you transfer fees as you are related. Make sure you file the quick claim so it is in your name.
2006-11-01 14:11:10 · answer #3 · answered by sylviavnpttn 5 · 0⤊ 0⤋
You definately save money if you just buy your sister out, but the title would stay in her name. If that isn't a problem, then do it.
2006-11-01 14:00:27 · answer #4 · answered by xorosho 3 · 0⤊ 0⤋