I was limited to 170 characters by the software. While in the process of getting a divorce, my son sold his house that was jointly owned with his wife. He wanted to buy a house for himself, but his wife wouldn't sign the papers even though there was a document saying she had no liability. That being the case, I purchased the home with the intent of selling it back to him at my purchase price once the divorce is finalized. He is paying me monthly to offset the home equity loan that I used. I don't plan to try to take any deductions. Are ther any tax implications that I need to be aware of?
