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Subject to gift tax?

Started by gobri30
about 16 years ago
Posts: 49
Member since: Nov 2009
Discussion about
My father has inherited a coop in which he intends to put himself and myself on the lease during the transfer. Some questions arise: - Is this the same as giving me joint ownership of the shares? - Is this a taxable event subject to gift tax? - If something happens to him how is the transfer of the remaining shares handled in terms of gift vs other taxes? note: no mortgage/bank ownership. Thanks!
Response by nyc10023
about 16 years ago
Posts: 7614
Member since: Nov 2008

http://www.cooperator.com/articles/1471/1/Estate-Planning-for-Co-op-and-Condo-Owners/Page1.html

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