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Peter Dus Jr

Premier Agent

2 Recent Sales (last 12 months)

Realtor (6 years experience)

Specialties:
Buyer's Agent,
Listing Agent,
Relocation,
Foreclosure

Advice

  • (2 Contributions,
  • 0 Best Answers,
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giving a house to a friend?

Answer

I am not an attorney or tax professional, but did recently personally deal with the exact same situation. Your boss should sign deed over to you in a living trust. If he dies within the next five years you would still be responsible for the tax. If he dies after the five years you would own the home scot free. At least that's what I have learned from my experience.Hope this helps some, but your attorney should be able to help you more.

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