Home Selling in USA>Question Details

Josh, Home Seller in USA, Mobile, AL

If a foreigner owned a home out-right in the USA, what are the associated costs of giving away the home to a family in need?

Asked by Josh, USA, Mobile, AL Wed Apr 7, 2010

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I would suggest contacting a lawyer to help identify if the deed is clear not air property, and in my opinion it could be gifted to the other family member or sold to the other family member at a lower price than the actual value, but iI would consult with an attorney
2 votes Thank Flag Link Thu Apr 8, 2010
Hello Josh,
In real estate everything is negotiable, so you could negotiate with the new owner to pay all the transfer fees involved. (Those will vary depending on the location of the property & may include city, county, state transfer taxes & recording fees).
I would also speak to a CPA (accountant) to cover all the bases. (Have you considered gifting it to a charity? Then you would probably get a tax benefit).
Have a great day!
1 vote Thank Flag Link Thu Apr 8, 2010
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