If an owner deeds me a property taken sub2, does the equity that the owner is giving up become a taxable loss for them? Could this be used a way to convince a homeowner that a sub2 would be a good deal for them?
What?
gpre,
Glad to meet you,
Only if the seller moving out of the house wants a small 6x8 room for about 2-3 years to live in.
John $Cash$ Locke
Thanks John :smile