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The Water Cooler
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Where's your best place to live and why?
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<blockquote data-quote="Parks 788" data-source="post: 3508454" data-attributes="member: 14646"><p>The home is not that remote, really. For full disclosure, my brother and I inherited the home from our parents. My parents are still alive and live in the home as if they still own it but are technically renters. It took about a 10 years but was legally transfered to us so when my parents pass on the home will not be part of their estate thus not having any death tax implications as it will have already been in our ownership. </p><p></p><p>It's an incredible home in a fantastic location but i could never live there full time. Local law does not allow for any more vacation rental properties in the area. When my parents pass we will rent to family and friends under the table. Dependent on cost to own and maintain we are not sure whether we will continue to own or end up selling down the line.</p></blockquote><p></p>
[QUOTE="Parks 788, post: 3508454, member: 14646"] The home is not that remote, really. For full disclosure, my brother and I inherited the home from our parents. My parents are still alive and live in the home as if they still own it but are technically renters. It took about a 10 years but was legally transfered to us so when my parents pass on the home will not be part of their estate thus not having any death tax implications as it will have already been in our ownership. It's an incredible home in a fantastic location but i could never live there full time. Local law does not allow for any more vacation rental properties in the area. When my parents pass we will rent to family and friends under the table. Dependent on cost to own and maintain we are not sure whether we will continue to own or end up selling down the line. [/QUOTE]
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