My wife and I purchased a home from my parents 2 years ago. We financed the transaction privately through them, and have a promissory note to pay the balance of the purchase price of the home. We now are looking to re-finance the home with a broker but have a lien on the house for the value of the promissory note. To complete the re-financing process, we would need to remove the lien from the home. We have been told by our broker we could simply re-convey the lien, receive the re-financing funds, and then place the lien back on the home. Would doing so:

A) Constitute as a gift from my parents?, and;

B) Would property taxes be potentially re-assessed following the filing?

Any advice/help would be greatly appreciated!