Subtracting & adding names from title of real estate can

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jaymc
Posts: 1
Joined: Mon May 15, 2006 12:46 pm

Subtracting & adding names from title of real estate can

Post by jaymc »

1) Is it consider a ‘disposition’ (disposed and reacquired immediately) whenever a non-arm’s length person is added or subtracted from the ownership of a property?
2) What will happen if the property is the principal residence (PR) for one of the owners but not the others, when name additions and deletions happen?
Example: father (PR) the original owner, add son (non-PR) and daugher (non-PR) to the title in 1986, house value goes up, in 1996, son request his name to be removed, house value goes up, in 2006 the house was sold.
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