The Money Mustache Community
Learning, Sharing, and Teaching => Real Estate and Landlording => Topic started by: JDsNova on November 09, 2019, 02:34:50 PM
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So quick background, I helped purchase a home for my parents approx 4 years ago because they had gone through BK and couldn’t do it with their credit. Their name is on the deed but not on the mortgage. They used their money, and my credit, so it’s technically my house and they rent it from me. I’ve never lived there.
If we were to sell, and they take the equity and buy another home on their own (without my help) what would be the tax repercussions on my end?
With all that said, and assuming I’d take a tax hit, is there a way to “deed” the house and loan over to them to takeover?
Thanks!
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