How JustAnswer Works:
  • Ask an Expert
    Experts are full of valuable knowledge and are ready to help with any question. Credentials confirmed by a Fortune 500 verification firm.
  • Get a Professional Answer
    Via email, text message, or notification as you wait on our site. Ask follow up questions if you need to.
  • 100% Satisfaction Guarantee
    Rate the answer you receive.
Ask bigduckontax Your Own Question
bigduckontax, Accountant
Category: Tax
Satisfied Customers: 5168
Type Your Tax Question Here...
bigduckontax is online now

Thank you for your answer - in the question I mentioned that

This answer was rated:

Thank you for your answer - in the question I mentioned that it could be 100 % or a percentage. So if she just Gifts me 75% on the property can she still live in the property without paying rent and does the 7 year period start from that point?

NO, it is still a gift with reservation, but for a smaller amount. Again once she vacates or pays the rack rent then the 7 year clock starts to run.

Customer: replied 7 months ago.
Thanks that is really useful.

Delighted to have been of assistance.

Please be so kind as to rate me before you leave the Just Answer site.

bigduckontax and other Tax Specialists are ready to help you

Thank you for your support.