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Tax Considerations >Not at ARMs Length

A sale of a house is just a sale, right? Not necessarily. If you are selling your house to your children or transferring title outside the open market, then the transaction may be characterized as "not at arm's length". Since such a transfer may have tax consequences, you should discuss it with a tax attorney or accountant before taking action.

The transfer of title to a son or daughter may cause the parents to lose favorable property tax treatment, require the payment of state gift taxes, or have other unexpected consequences. From a capital gains point of view, it may be more prudent for children to inherit property than to receive it as a gift. The disposition of any real estate should be considered within the entire framework of your tax and estate planning.

For answers to all your real estate questions, consult experienced professionals who are familiar with this area.

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Henry 'Hank' Correa, REALTORŽ, real estate agent and broker for Hilo, Hamakua and Puna Hawaii home listings, property and land for sale - NUMBER1EXPERT(tm)

Henry 'Hank' Correa
Hank Correa Realty LLC
630 Kilauea Ave, Unit 101
Hilo, HI 96720
Office: (808) 961-3300
Mobile: (808) 960-2626
Toll Free: (877) 500-HANK (4265)
Fax: (808) 934-8865
Email: Info@HankCorrea.com
For over 15 years, Hank Correa has specialized in finding his clients that special piece of paradise that they need and desire. Hank guides you through the entire process, seamlessly, to ensure smooth sailing ... from Oceanfront to Farms & Ranches, from Residential to Rentals to Commercial & Investments, all within and around the areas of Hilo, Puna, and Hamakua on the 'Big Island' of Hawaii. He prides himself on his reputation for high customer satisfaction/real estate expertise and at age 20 was one of the youngest real estate agents to receive the Certified Residential Specialist designation which is why his past clients say ... 'All You Need To Know About Real Estate ... Hank Correa.'

www.HankCorrea.com is brought to you by Henry 'Hank' Correa
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