Newbie Investor - Problem In PA
I have a unique situation. My mother died recently and left her home (paid for,worth ~60K) in trust for my brother(handicapped) that my sister and I are to maintain(we are both guardians of the estate. However, she didn't leave enough money at this point to do so. We took in a boarder who pays part of the cost of running the house ($300/mo)and is a part-time care giver. My sister does not want to refi the home. So, I suggested titling the house in both our names and at least depreciationing it. Can I do this? If so, how? Some one suggested I create an LLC and have the house as its only asset. null :-?
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