My question involves real estate located in the State of: Indiana
I have real estate that I will be selling to my daughter. She will be buying it thru land contract over a period of 6 years or less, depending on if she pays me more than the required yearly amount. At the end of the 6 years I intend to just quit-claim the property to her thru deed.
Some one told me that I can not do that. Is that true and why? She will be paying me less than $10,000 a year. I will continue to pay the taxes and insurance until the deed is transferred. Are their any other documents that i must have prepared at the end of the 6 years? In 2010 my mother transferred her property to my older sister (who is handicapped) this way (just thru a quit-claim deed) and this was done thru an attorney.
Thanks.
I have real estate that I will be selling to my daughter. She will be buying it thru land contract over a period of 6 years or less, depending on if she pays me more than the required yearly amount. At the end of the 6 years I intend to just quit-claim the property to her thru deed.
Some one told me that I can not do that. Is that true and why? She will be paying me less than $10,000 a year. I will continue to pay the taxes and insurance until the deed is transferred. Are their any other documents that i must have prepared at the end of the 6 years? In 2010 my mother transferred her property to my older sister (who is handicapped) this way (just thru a quit-claim deed) and this was done thru an attorney.
Thanks.
Purchase Contracts: Selling Property Without Using a Agent
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