My grandmother is wanting to quitclaim a rental property to my brother and I as a gift. Now what happens if my brother and I decide that rental property's just aren't for us? Can we list it for sale immediately after without any sort of wrong doings. We have an appointment with a real estate attorney in the near future as well. We understand now the tax basis from her and the capital gains punishments, but is there anything requiring us to hold onto the gift for a certain amount of time before selling? Thanks in advance everyone!
