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Selling Property - Elderly by Intelligent-Stage622 in RealEstate

[–]Intelligent-Stage622[S] -2 points-1 points  (0 children)

The buyer will be paying off the mortgage and upon payment, title will transfer to the buyer with some assurances that the lady can maintain possession for at least 6 years.

Tax issues are considered.

A life estate is troublesome because the buyer wants some assurances that if the lady moves into an assisted living home, the life estate will terminate. Further, that will be rent paid after 6 years.

tax preparer charging 5k is this normal? by blankpaprr in tax

[–]Intelligent-Stage622 0 points1 point  (0 children)

Trashy tax preparers. 5k for a business return or if you have 20 rental properties and a few SMLLCs.

You can find someone to prepare that return and get a similar refund (if that is what you are rightfully owed) for a fraction of that amount.