He is looking to purchase a 400k home in Florida for us to live in with all three of our names on the title and then yearly write a gift of equity letter to transfer 17k each of equity to me and my husband so that in 12 years he will have transferred 34k a year = 408,000.00 on paper at which point we would personally hold all the equity free and clear…. This would keep him under the tax limit for gifts and form 709. This would also shield us from paying taxes on this since it’s provided over time.. are we understanding that correctly?
