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Non-Tech : Kirk's Market Thoughts -- Ignore unavailable to you. Want to Upgrade?

To: Brian Sullivan who wrote (9592)	5/2/2020 9:24:57 AM
From: robert b furman	1 Recommendation Recommended By Kirk © Read Replies (1) \| Respond to of 26463

Hi Brian, It is totally tax free, as long as you don't have siblings. Those inflated real estate properties become a big transaction if you have to buy out your siblings. All it takes is one of them to say, "I want my share of the value in cash" and you are then the buyer of at least half or more depending on the number of siblings you have. Granted your portion is free, but the rest requires a long term plan or another mortgage at a later time in your life. Unless you are an only child, then kaching! Bob

To: Brian Sullivan who wrote (9592)	5/2/2020 10:33:02 AM
From: Kirk ©	Respond to of 26463

Good point. All of the people your age or older are holding on to property that has seen huge gains, so huge that you can never sell them Actually, people significantly younger, say 10 to 20 years, that bought here at the same point in life, 26 years ago for me so 6 to 16 years ago for them, have very large gains too. We talk and they do calculations on how to add or upgrade their homes without significantly increasing their property taxes. I also believe one reason our traffic is so bad is it is too costly via capital gains taxes and new, higher property taxes, to sell and move closer to your job when you get a new job. It such a huge tax dodge that I wouldn't be surprised if some people have faked their own death, in order to retire overseas. Maybe those are all the dead, blue state voters we read about? [wink] Seriously, I don't see how that would work unless your kids agree to the fraud, sell your home without the taxes and then send you regular payments that somehow are not tracked by the banking system. I guess they could do it to have ownership of the money and then you'd have to trust them to keep making the payments while you lose your Social Security checks and fairly cheap Medicare insurance that is pretty good here given you can go to top ranked Stanford Hospital.