Legal Question in Tax Law in New York

Upon my grandmothers death (in ny) my mother inherited her home. I would like to buy the home now from my mother at well below market value. what if any are the tax implications

Asked on 6/09/17, 11:07 am

1 Answer from Attorneys

Richard Bryan Richard Bryan Attorney PC

Your mother would be making a gift to you of the difference between the fair market value of the house, and the amount you pay her.

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Answered on 6/12/17, 8:17 am

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