Is there any consequences to selling your property way below market value?

Tips and Deals Forums Buying Your Home Buying Your Home Is there any consequences to selling your property way below market value?

This topic contains 0 replies, has 1 voice, and was last updated by  Anonymous 6 years, 2 months ago.

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    Anonymous

    If I own a house that has aproximatly $ 700,000 estimated market value with about $ 80,000 remaining on the loan to payoff , and I decide to sale my house to my brother at about $ 80,000 basically just what’s left on the loan , will it crate any tax penalties for me?

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