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If someone is 'buying' a house from her grandmother what is the minimum the selling price can be and is a lawyer needed to transfer the title?
Wiki User
∙ 6y ago
The minimum price would be $1.00, love and affection or a similar statement. However there are tax consequeces to each of you that need to be considered. Also the sale could affect your Grandmother's government benefits.
I highly recommend that you consult an elder care attorney who also handles real estate who would be able to advise you. There are also other considerations that should be taken care of at the same time such as your Grandmother's will, living will, and power of attorney.
Wiki User
∙ 6y ago
Wiki User
∙ 7y agoYou need to seek the advice of a local attorney who specializes in real estate law and who knows the laws in your jurisdiction. Deeds should never be drafted by a non-professional and a real estate attorney will draft a proper deed for your purposes and jurisdiction.
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