Okay, my mom moved out three years ago and left a $400 phone bill at our old house, i just graduated from college and am moving in there, the phone company says they won't give me service even though I have good credit cause she has the bill unless the deed is in my name or i have a formal lease agreement; getting it deeded to me would through her into a gift tax situation and I dunno about having a lease agreement drawn up. What to do?
2007-01-17 03:28:21 · 4 answers · asked by Brad R 4 in Business & Finance ➔ Other - Business & Finance
you can buy a predone lease just fill in the blanks for the situation showing you are leasing the home and give it to them. That is the only way you will get out of it. I had the same issue with a water bill in a former home.
2007-01-17 03:36:38 · answer #1 · answered by Suzilicious 2 · 0⤊ 0⤋
Your mother certainly isn't being much of a role model to you by skipping out on a legitimate bill. Why won't she just pay the bill? A lease agreement would be easy to do but as your Mother would have to claim the lease income on her tax return the chances of her agreeing to that are probably pretty slim based on her actions with the phone bill.....If your mom will absolutely not pay it then do the right thing and pay it for her...hopefully she will pay you back but if not just consider it the cost of living in the house rent free.
2007-01-17 11:39:40 · answer #2 · answered by SmittyJ 3 · 0⤊ 1⤋
They are correct. Unless you have a new deed drawn up with you as the sole owner you are liable for her phone bill. Just pay it and be done with it. How you get your money back from your mother is a whole different kettle of fish.
2007-01-17 11:37:11 · answer #3 · answered by Anonymous · 0⤊ 0⤋
You can take a one time gift of up to 1,000,000 tax free without affecting the other gifts or the estate.
2007-01-17 11:37:22 · answer #4 · answered by AAed 3 · 0⤊ 0⤋