Dedicated to the Extraordinary. The Exceptional. The Unique.
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Capital City Sotheby's International Realty offers extraordinary homes, distinguished sales associates, sophisticated marketing and the ability to deliver an experience of uncompromising quality. Since the founding of the Sotheby's auction house in 1744, the Sotheby's International Realty® name has earned renown as a marketer for many of the world's most valuable and prestigious possessions. The Sotheby's International Realty® organization began in 1976, in part to serve clients desiring a complete package of estate disposition services, and soon became known for representing extraordinary luxury real estate throughout the world. Capital City Sotheby's International Realty associates assist Buyers and Sellers throughout Austin, the Lake Areas, Horseshoe Bay/Marble Falls and the surrounding Hill Country. Specialists are available with the experience and expertise to market and sell exquisite estates, farm and ranch properties, Downtown condos, and historic homes in Central Austin plus properties in exclusive gated, golf course, waterfront and lake view communities. Experienced associates are available with the resources and expertise to represent builders and developers with new home development projects. Austin is one of the most beautiful cities in the world and a wonderful place to live. Please contact one of our professionals today to find out more about this special city and to receive a current list of properties available for sale in Austin and the coveted Lake and Hill Country Areas.  |
Tax Considerations >Not at ARMs Length
A sale of a house is just a sale, right? Not necessarily. If you are selling your house to your children or transferring title outside the open market, then the transaction may be characterized as "not at arm's length". Since such a transfer may have tax consequences, you should discuss it with a tax attorney or accountant before taking action.
The transfer of title to a son or daughter may cause the parents to lose favorable property tax treatment, require the payment of state gift taxes, or have other unexpected consequences. From a capital gains point of view, it may be more prudent for children to inherit property than to receive it as a gift. The disposition of any real estate should be considered within the entire framework of your tax and estate planning.
For answers to all your real estate questions, consult experienced professionals who are familiar with this area.
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