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[ Follow Ups ] [ Post Followup ] [ The Forum Board ] [ FAQ ] Re: Title Holding Trust Posted by Ward-CA0 on February 07, 2002 at 1:29 PM In Reply to: Title Holding Trust posted by George on February 05, 2002 at 9:57 PM : If the title to your home is held in a title holding trust, can you avoid IRS capital gains tax, transfer tax, and reassessment when selling your property to annother individual by simply adding the buyer as a beneficiary, removing the other beneficiaries from the trust, and then assigning all of the beneficial interest to the buyer? : Do you know if the IRS has specific provisions for this sort of thing? ============== George, because the property is being sold, then by law you'd be obligated for both the transfer tax, the reassessment and the income tax on your gain in the property. A trust setup doesn't help you avoid taxes. It gives you a lot more privacy regarding ownership, and allows you to avoid any clouds against your property. Follow Ups: Post a Followup: Name : E-Mail : Subject : Comments: : : If the title to your home is held in a title holding trust, can you avoid IRS capital gains tax, transfer tax, and reassessment when selling your property to annother individual by simply adding the buyer as a beneficiary, removing the other beneficiaries from the trust, and then assigning all of the beneficial interest to the buyer? : : Do you know if the IRS has specific provisions for this sort of thing? : ============== : George, because the property is being sold, then by law you'd be obligated for both the transfer tax, the reassessment and the income tax on your gain in the property. A trust setup doesn't help you avoid taxes. It gives you a lot more privacy regarding ownership, and allows you to avoid any clouds against your property. Optional Link URL: Link Title: Optional Image URL: [ Follow Ups ] [ Post Followup ] [ The Forum Board ] [ FAQ ] WWWAdmin 2.0a © 1997 Matt Wright and DBasics Software Company, All Rights Reserved

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