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  1. #1
    Join Date
    Feb 2017
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    25

    Question Can a Property Owner Transfer Real Estate After Losing Permanent Residency

    I am considering gifting my real estate property to my mother who is permanent resident (green card holder)
    I am planning to quit claim deed to her and I believe I will not have to pay any excises tax as it will be considered gift?

    I believe I can do as above?

    Now if by chance my mother decides to give up her permanent residency or forced by agent at airport to abandon it or due to any reason residency is taken away from here...what will happen to property that now she owns (if I am transfer as above)

    I believe she can still remain owner but after loosing permanent residency (green card) can she still quit claim back to me in future?

  2. #2
    Join Date
    Sep 2010
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    19,901

    Default Re: Can a Property Owner Transfer Real Estate After Losing Permanent Residency

    Whether or not there is a transfer tax/recording tax depends on what state the property is in. There's good reason why we asked that. You weren't supposed to just delete it.
    Given the value of the gift exceeds $15,000, you will need to file a gift tax return, but no tax is likely due unless the property is worth millions.

    There's no reason a non-PR can't own property in the US. Nothing happens just because she gives up (or otherwise loses) her PR status.

    What makes you think she will ever give you the property back if you give it to her? What is your motivation in giving it to her? If she remains a PR, gifting the property back may disqualify her for certain services. Once you give it to her, she's free to sell it and you can't do anything about it. Also, if there is a mortgage on the property, it will be subject to being called by this transfer.

  3. #3
    Join Date
    Feb 2017
    Posts
    25

    Default Re: Can a Property Owner Transfer Real Estate After Losing Permanent Residency

    1.Sorry I must have accidentally deleted state ..its WA state.
    2. This house is worth about 100k
    3. What do you mean if she remains PR and giving it back to me may disqualify her for certain services?
    4. What services are you talking about ? when she gives back she can say I have no assets so it should make her eligible for more services ..I am confused.

  4. #4
    Join Date
    Sep 2010
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    19,901

    Default Re: Can a Property Owner Transfer Real Estate After Losing Permanent Residency

    Simple, giving away your assets can disqualify you for certain medicaid services (particularly nursing care).
    No, there is nothing you can say that allows her to dump assets that could be used to pay for her care.

    Just why do you think giving the house away to her is a good idea?

  5. #5
    Join Date
    Feb 2017
    Posts
    25

    Default Re: Can a Property Owner Transfer Real Estate After Losing Permanent Residency

    I see ...she may disqualify for medicaid ...I understand that they can claim oh ...you dumped assets to qualify for medicaid.
    But I think that should not be a problem because she is new permanent resident and as per rules she won't qualify for medicaid until she is 5 years old as PR.
    Hmm currently she is getting tax credit on premium do u think if I transfer this property to her ...she would not qualify for those premium tax credits?
    In my understanding before any agency has to exclude your home where you live in when they check your eligibility ..correct me if I am wrong.
    I think its a good idea because she never owned a home so it will make her feel good.

  6. #6
    Join Date
    Oct 2014
    Posts
    8,238

    Default Re: Can a Property Owner Transfer Real Estate After Losing Permanent Residency

    Quote Quoting flyingron
    View Post
    Given the value of the gift exceeds $15,000, you will need to file a gift tax return, but no tax is likely due unless the property is worth millions.
    Technically no gift tax will actually be owed until the total of all gifts made during the OP’s lifetime is well over $5 million. I mention this because it is important for the OP to understand that the gift tax takes into consideration all the gifts made during his lifetime, not just the current gift. What this means is that gifts to each person during the year that exceed $15,000 will reduce the amount of gifts that may be made tax free in the future, and will reduce what his estate can pass tax free at death.

  7. #7
    Join Date
    Sep 2010
    Posts
    19,901

    Default Re: Can a Property Owner Transfer Real Estate After Losing Permanent Residency

    That is true. I gave a longer explanation of the gift/estate tax exclusions with the current numbers in the thread the poster created on the other legal forum. I got lazy this time around.

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