significant other of 10 years died Nov 2009, TX left me estate= $100,000 : $67,500 house w/ contents

Tips and Deals Forums Home Insurance significant other of 10 years died Nov 2009, TX left me estate= $100,000 : $67,500 house w/ contents

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      Anonymous
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      the house is on “family land” his father was born on that piece of land 95 years ago/deeded piece of land to son in the 60’s. Father lives across the street and one of his sons lives on the piece of land behind this house: deeded to him. Family would like land/house to stay in “family” so land isn’t split into pieces and I want them to have it. House is old, needs a lot of major work and they will buy as is: how do I set price high enough to avoid penalties/taxes and still give them “what they owned before I entered the picture”. I don’t think house is worth tax roll amount but how far off can I go without IRS making me pay for “my clear conscience”? I can’t afford to make a tax mistake and don’t want to make a “profit” off of family that has treated me as one of their own. I can’t continue paying household bills(taxes/electric/water etc) on this house while not living in it (by my own choice ) so must sell now. Also the “city” might go for eminent domain if they find out it’s empty: they just bought empty land next door for new/bigger city hall (father is one of 5 founding men of town and only one still alive/ they are waiting for him to pass before taking any of his land out of respect I think)…this land would make a great parking lot :city hall on one side and city park on the other. Town has grown from 400 to 5000 people over the last 5 years. Help me “do the right thing” without getting “burned” by being too nice according to government standards!

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