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School Reports in Long Valley, Hackettstown, Mount Olive and Morristown, New Jersey
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Real Estate Tips
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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Real Estate Trivia
Q 
What is the world's longest frontier?

A 
At 3,987 kilometers (3,987 miles), the border between Canada and the U.S. is the longest in the world.
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Ron Karcich, REALTOR®, real estate agent and broker for Long Valley, Hackettstown, Mount Olive and Morristown, New Jersey home listings, property and land for sale - NUMBER1EXPERT

Ron Karcich
RE/MAX Properties Unlimited

One Madison Ave
Morristown, NJ 07960
Direct: 908-310-6283
Fax: 973-539-6888
RonKarcich@NUMBER1EXPERT.com

Ron Karcich is a knowledgeable, full time agent with 12 years of real estate experience in the areas of sales and management. His strengths lie in negotiation and honesty with his clients. He always puts his clients' best interest above all others.


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