Can Someone Inherit a Home if I They are Unemployed?
Okay, so I am wondering if you must be employed to own the deed of a house?
Can someone buy an unemployed person a home as a “gift” and put the deed solely to the unemployed person’s name? Or does the giver have to own the house??
- babyboomer1001Lv 78 months ago
The giver has to own the house. You cannot give away or sell what does not belong to you. Yes, an unemployed person can inherit a house. However, owning a house costs money so the unemployed had better be well off financially or get a job.
- Beverly SLv 78 months ago
Someone can buy anyone a home if they can pay for it.
- Casey YLv 78 months ago
There would be tax implications to this...
- SlickterpLv 78 months ago
Yes, they can inherit anything.
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- sunshine_melLv 78 months ago
Of course they can; employment isn't a pre-requisite for inheritance.
There are a lot of costs associated with home ownership though; so unless someone has savings to pay for these (insurance, repairs, taxes, utilities) then they may need to sell it anyway
- Anonymous8 months ago
Men of serious,have mights!Then yes!They can do what ever about much!
- StephenWeinsteinLv 78 months ago
You don't need to be employed to own a home.
Buying someone a home and putting the dead in the unemployed person's name is possible, but not that simply. The person who owns a home has to pay real estate tax on it and should pay for insurance, repairs, etc. So the unemployed person is going to need money to do that. And a person who gives something worth more than $15,000 (this amount changes from year to year) may have to pay gift tax.
- Pepper, PhDLv 68 months ago
Anyone can own a home. There is no income or employment requirement. Obviously, there are related expenses that someone would have to pay.
So yes, an unemployed person can inherit a home and you can give them a home as a gift.
For a gift, you would have to pay gift taxes for anything over $15,000. For an inheritance, they would possibly have to pay inheritance tax depending on the value.
- Wayne ZLv 78 months ago
There is no requirement that someone be employed.
However, there would be a requirement to pay the property taxes going forward.
There are stories of people getting a house via gift or inheritance and than losing it a few years later for not paying property taxes.
- Pearl LLv 78 months ago
i dont see why not