Family Trust or other Creative Ideas for Rentals Needed

Posted in Creative Real Estate Discussions
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  • W Stuhlman
    June 21, 2009 at 2:27 am
    W Stuhlman

    My parents (retired)own a free & clear 2-unit residential rental. Property is in PA. PA has a significant transfer tax.

    Does it make sense to put the property into a family trust or some other vehicle to reduce current and future taxes for my parents & the kids?

    Also does it make sense to put a mortgage (in an IRA) on the property to reduce rental income and/or for liabliity protection?

    Any ideas will be appreciated. Thanks.

    jimi hendricks
    June 23, 2009 at 6:02 am
    jimi hendricks

    You haven’t provided enough info regarding your families long-term goals but one thing that comes to mind regarding transfer tax …. how would a long-term lease be treated in PA? Rockfeller Center is leased for 99 years.

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