Transfer real estate property from parent to child

Oct 01, 2007 0 Replies

Hello all, I have a question about transferring property from my parent to me. The house we live at is joint-owned by my parents. My dad is a permanent resident (greencard) while my mom is a non-resident. If my parents want to transfer the house to my name (I am also a non- resident, have applied and currently waiting for greencard), how should I do it and will I (or my parents) be taxed? Both of my parents are retired, my dad live with me and my mom lives oversea. Thanks in advance!



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