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02-21-2011, 01:08 PM

rdockins

Junior Member

Join Date: Feb 2011

Posts: 1

note receivable gift

My parents want to gift us a note they are carrying for a house they sold. The note is for $150,000 at 6% interest. There is a balloon payment in August. The house is now worth around $100,000. What is the best way for the transfer?

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