Santa Clara Co., CA: buy your parents' house and avoid property tax reassessment

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: Jack sent me E-mail confirming the above, thanks.

: One thing though: be sure to talk to a CPA or tax attorney about the sales price!  You don't want unexpected income tax liabilities for you (when you sell) or the inlaws. Fair market value isn't written in stone!

: The contract can be written up by the listing agent for your house (free of charge.) I'd go through escrow and get title insurance too (required if you need a conventional loan.)

: Good luck!

: Christine


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