My brother is buying a house and our mom will live full time with him. She will turn 65 in a few months. He is playing with the idea of making her 100% owner of the house so they can "stop" paying property taxes.
After further reading, I am understanding that the taxes are only paused (deferred) and at the time she dies, my bro, her heir, will be on the hook for many years of property tax + interest?
So if she was to pass in 20 years, he will pay 20 years of property tax that was deferred? or does the tax "debt" die with her?
original posted by MexicanGuey to r/personalfinance on Thu, 29 Feb 2024 19:51:58 GMT.