Q: My mother wants to transfer her property to me. We're unsure of how to proceed with that. Is it easiest to sell it?
It was surveyed when my grandfather sold it to her. Does it need to be done again? There are no liens or judgements against the property. She owns it free and clear we just don't know where to start or what the simplest method would be. Thanks in advance.
A: She could have a new deed prepared conveying her 100% interest in the property to you. Your question doesn't provide any information as to why she would want to do that. 1) If she is wanting to transfer her property in anticipation of entering a nursing home, she can have a deed prepared that gives her a life estate in the property until her death then the property would be yours. A life estate would permit her to continue living in the home and she would continue to be financially responsible for it, but would not be able to sell it. 2) if she wants to transfer her property to you to avoid estate tax upon her death, South Carolina has no estate tax. For federal estate tax, her estate would have to be valued at greater than $11million for any tax to be owed.
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