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If a mother wants to sell her home with no existing mortgage to her son who will need her as a co-signor to secure a new mortgage will capital gains still be applicable?
Janengel35
You can't sell a home to yourself. If the son needs the mother as a co-signer she will need to remain on the title of the home. Therefore the ownership will go from mother to mother-and-son as tenants in common or joint tenants. Therefore an interest was added to the home (the son) but the mother is still an owner (just now 50% owner).
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∙ 14y ago
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