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ESTAPLACE.COM REAL ESTATE - FREE LISTING SERVICE -
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Nesgroup address: misc.consumers.house - Date & Time for the message: 12 Mar 2005 15:45:10 -0800
/ Author of the message: "Caledonia" |
Title of the message: |
Re: Advice about selling house
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Text of the message: |
v wrote: > On 11 Mar 2005 19:55:19 -0800, someone wrote: > > >1) Make darn sure you understand the financial and tax consequences > >first, no matter what you do. For example, is a deceased person's > >estate able to claim the $250,000 exemption on net gain ? > > > No because there is no gain. The "estate" doesn't belong to the > deceased any more. It belongs to the devisees and legatees > (technically, "heirs" is often the wrong term). The value of the > house on the date of death is what is inherited, there is no "gain". > These "consequences" are vastly overstated out of ignorance. The sibs > are not keeping the house; if they were they'd want to establish its > FMV as the basis steps up upon DoD, for any future sale. > > If the sale is soon after death, and without a bubble market, there is > no gain. The value of the house is what is subject to estate tax |
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Estaplace.com is one the Ceglia Giovanni projects, started on 20 July 2005, and online since 20 August as a real estate platform for listings, mainly operating on the Italian and American/English market in the Internet, Estaplace would like to become the point of referiment for home sellers and home buyers, a site where private owners or real estate agencies can have the possibility to show their offers to the world. Estaplace.com is only one of the Giovanni Ceglia's sites. Everyday Giovanni Ceglia works to improve new Internet tools and services for online marketing and business. Estaplace.com will become the biggest portal for real estate business and investments online.