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Deductions & credits
Yes, just to get the terminology correct. Your mother would retain a life estate, you would have an interest in the remainder.
Under US law, at least, that means that your mother retains full rights to the property as long as she is alive and can do anything she wants including sell it, without obligation to you. If your mother did sell the property, her basis would be whatever it was, and is not affected by the conditional gift or the life-estate. If your mother passes and you inherit the remainder, you received a stepped up basis at that time.
‎July 4, 2022
7:04 AM