Can you purchase a house and give it to someone else as a gift?
437923
The quick answer to your question is yes you can purchase a house and give it to anyone you desire. Are you thinking about giving the house to a family member?\n\nThe reality of the matter is that you must consult a tax or CPA and especially a real estate attorney to find out the easiest way to do this and what you should do to avoid a very difficult potential tax problem. \n\nIf nothing else the CPA or tax expert is probably the most important person in this situation.\n\nI hope this has been useful to you in some way, good luck
924595
Of course you can. When you buy something at the store, they HAD to buy it from someone.
515866
Getting something from someone you're not sure you want.
233861
Since only $250,000 PROFIT will be exempt from taxation (if she is married to a co-owner it's $500,000) she should check on taxes first. The actual cost of the residence is  subtracted from the net sales price to determine profit.\n\nThe tax responsibility for making a $200,000 gift to anyone rests with the GIVER not the recipient, so there will be gift taxes in addition to any taxes on the profit from the sale. \n\nHowever, each year an individual can gift $11,000 to another individual without any tax consequences.  That means for gifts from two parents to a married couple $44,000 a year without taxes. A single parent can gift $22,000 a year to a couple without paying any gift tax.(these figures were for 2005 and could have increased very slightly for this year)\n\nThere are some other requirements - time in residence for one.  The IRS has a guide "Selling your Home", Publication 523, which you can access on line, pick up at a local IRS office, or get through the mail.\n \nAs far as the gift taxes are concerned she should see her tax adviser, who can save her money in the long run.  \n\nIf you have a question e-mail me through Answers.
828270
Yes he can, provided he does not have any commitments under any other mortgage or secured loan.\n\nEven if he had a previous mortgage, provided he no longer has one, then he will be considered as a first time buyer.\n\nNo comments about the divorce - I see she got the house. I know that feeling only too well........\n\nWish him luck and I hope he makes a better choice next time.
55938
Chances are you can, but what would the recipient benefit from it? Not learning it,unless one does the work by oneself. Helping is one thing, but don't have someone else do it for you.
707857
To give the other person or people what they want.
289694
If you owned the property outright, you could just sign a quit-claim deed over to another person.  If this property and mortgage is in yours and another person's name, the other person will have to arrange to have the mortgage in just their name first before you can sign it over to them.  Best thing is to check with who you have the mortgage with.
626118
Gift it to someone or sell it for $1.00
227390
no they dont do that over here.you could try repossed homes
674897
YOU SHOULD BE ABLE TO, IF YOU GIVE IT TO A ORGANIZATION CAPABLE OF GIVING YOU A TAX DEDUCTION. YOU CANT DONATE IT TO YOUR WIFE OR CHILDREN, OR EVEN A HOMELESS GUY ON THE STREET AND EXPECT TO DEDUCT IT. YOU ALSO NEED TO MAKE SURE THAT YOU WILL HAVE ENOUGH DEDUCTIONS TO ITEMIZE. IF NOT, THEN IT WONT BE BENEFICIAL FOR YOU TO DONATE THEM TAX WISE.
132958
I think the gift makes it difficult here.  Probably depends on the state, ask an attorney.
306641
You can if the title to the land is separate from the house.  But I suspect the title is for the combined land and house, so you can't.  Why would you want to do this anyway?
193414
Hmmm... probably not.. very possible you can get a seller to hold a seller second.. and that is hard to get sometimes..
773934
i very much doubt that as a private exchange this will be allowed under any circumstances.........basically its ok for them to leave a family in an over crowded situation BUT for them to actually allow you because it is what you want is not the same [well WE know it is but you get my drift].................and you can sign or offer to sign ANYTHING the thing is once she turns 12 then a whole new set of laws and rules are broken so its just not going to happen.\n\nAs some one that has been there done that [council wise] is there an open property list that has all the available swaps including the private ones...............see you can have a private exchange so long ans no one has rent arrears but again this has to be approved by the council.\n\nGood luck with your search.
680211
Yes, but the gifts can't have any real value.  You could bake cookies for example, but you couldn't give them money.
833152
Well you can.Ptovided someone else wants to buy it