If my dad decides to

My dad would like to help his son build a second family home on the property. Instead of selling his home to his son, he would prefer to

Asked on February 4, 2017 under Real Estate Law, Hawaii

Answers:

SJZ, Member, New York Bar / FreeAdvice Contributing Attorney

Answered 3 years ago | Contributor

He can definitely do this: it is permitted to give people a gift with certain restrictions, such as the giver will have the right to continue to live on the gift property rent free for some period of time (or even for the rest of life). Your father should go to an attorney, who can determine the best way to set this up or structure it (including for tax purposes), but the basic idea is certainly legal.


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