I have never heard about "legacy" property taxes, but that does not mean they do not exist. Real estate property tax is an issue that is dealt with at a municipal or county level generally. I live in Virginia, and while there are a host of programs that provide tax relief for age, income, and such, we do not have a program where you can transfer the tax bill from one home to another. I would suggest you contact the county where you currently live.
Here's the most important thing you need to know: To qualify for the $250,000/$500,000 home sale exclusion, you must (1) own and occupy the home as your principal residence (2) for at least two of the five years before you sell it. Your home can be a house, apartment, condominium, stock-cooperative, or mobile home fixed to land.
Also, each co-owner can deduct up to $250,000 for Capital Gains Tax Purposes. So reading into your question your father lives there as well, both you and your father can exclude up to $250,000. Since your husband does not own the property, since he is not on the deed, he cannot exclude up to $250,000.
Thank you for your question @KL28881
All the best,
Marc T.
TurboTax Live Tax Expert
27 Years of Experience Helping Clients
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