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    81288's Avatar
    81288 Posts: 1, Reputation: 1
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    #1

    Nov 13, 2009, 01:49 PM
    Father wants to give husband home as a gift.
    My Father In Law is moving to Alabama from Chicago. He wants to give my husband the house here in Chicago before he leaves.

    My husbands Mother passed away last year and had 1/2 ownership in the house and wanted my husband to have the home as well.

    We are not aware of a will that his Mother would have owned, but we know that the Mother and Father had discuss this before she passed that the house would go to my husband.

    What specific concerns or questions should I find out from the Father In Law before seeking a Real Estate Attorney to handle the transfer?

    We will meet with the father to discuss certain issues regarding this transfer.
    excon's Avatar
    excon Posts: 21,482, Reputation: 2992
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    #2

    Nov 15, 2009, 05:25 AM

    Hello 8:

    I don't see ANY concerns for you to be worried about.

    excon
    J_9's Avatar
    J_9 Posts: 40,298, Reputation: 5646
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    #3

    Nov 15, 2009, 08:58 AM
    Quote Originally Posted by excon View Post
    Hello 8:

    I don't see ANY concerns for you to be worried about.

    excon
    What about a gift tax?
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    excon Posts: 21,482, Reputation: 2992
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    #4

    Nov 15, 2009, 09:05 AM
    Quote Originally Posted by J_9 View Post
    What about a gift tax?
    Hello J:

    Well, of course, there are DETAILS to be attended to, but since he's represented by counsel, he shouldn't have any CONCERNS. That was what he asked about.

    excon
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    J_9 Posts: 40,298, Reputation: 5646
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    #5

    Nov 15, 2009, 09:06 AM
    Exy, love, this is where I based my answer.

    What specific concerns or questions should I find out from the Father In Law before seeking a Real Estate Attorney to handle the transfer?
    He's not represented yet, so this is a question he will have to ask.
    excon's Avatar
    excon Posts: 21,482, Reputation: 2992
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    #6

    Nov 15, 2009, 09:11 AM
    Quote Originally Posted by J_9 View Post
    He's not represented yet, so this is a question he will have to ask.
    Hello again, J:

    I don't disagree. But, it's not a question he has to ask his father. It's one for the lawyer. Why would the father know anything about gift tax? I don't think he has to ask his dad anything.

    If there are questions, and of course there will be, the lawyer will ask.

    excon

    PS> I see that he's the father in law and not the dad.. But, that makes no difference.
    J_9's Avatar
    J_9 Posts: 40,298, Reputation: 5646
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    #7

    Nov 15, 2009, 09:12 AM
    Sorry Exy, you are right. I misread that portion of the question. I stand corrected.
    excon's Avatar
    excon Posts: 21,482, Reputation: 2992
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    #8

    Nov 15, 2009, 09:16 AM
    Quote Originally Posted by J_9 View Post
    I stand corrected.
    Hello again, J:

    I read about the baby in the lobby.. You're to be forgiven... Now go to bed.

    excon
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    J_9 Posts: 40,298, Reputation: 5646
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    #9

    Nov 15, 2009, 09:18 AM
    Quote Originally Posted by excon View Post
    Hello again, J:

    I read about the baby in the lobby.. You're to be forgiven... Now go to bed.

    excon
    You're right Exy... J needs sleep... the adrenaline has worn off about not. Xoxo Thanks for understanding me. ;)
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