Ownership of the property and the responsibility for paying the property taxes on the property becomes that of the new owner of the home. You may come into problems with the Inland Revenue Service by no fault of your own and will need the best tax attorney to defend you. This is the legal name you will operate under as a business. One probably thinks his or her child wont dispute over property matters as they are not greedy. Home inspections are not required by law (depending on the municipality) during the home purchasing stage.
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