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Get your taxes done using TurboTax
@Mike9241 wrote:
.....if he removed himself completely from the title (no retained life interest) then he made a gift to you and your siblings of the total ownership of the property.....
That is not necessarily the case. A life estate can actually be implied from the circumstances.
See Treas. Reg. §20.2036-1(c)
March 24, 2022
11:58 AM
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