Thank you, Nancy.
The information on selling for a dollar was taught in a law class I had
perhaps thirty years ago. I would suggest that anyone needing to do it now,
check with an estate expert lawyer and see what is involved. At that time
there was no limit of $1,000,000.
Again, good estate planning with an insurance agent through the life of a
property owner can provide funds to pay any taxes. There would be a problem
if the property soars in value during the last years of a very long life,
but not a problem in normal real estate markets.
In any event, I suggest we find an estate lawyer among us and let him answer
the questions. Estate taxes serve a valuable purpose in keeping land
ownership available to all citizens.
Anne
Anne Pemberton
[log in to unmask]http://www.erols.com/stevepemhttp://www.erols.com/apemberthttp://www.educationalsynthesis.org
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