My sister and I are the sole legal heirs of my deceased mother's property. My father is also deceased.
My sister is willing to purchase the property from me as per market value. What is the best way to execute this with minimum tax implications?
Will I be liable to pay Capital Gains Tax or any Gift Tax?
Should I give up my rights of the property without consideration, for the purpose of registration?
As my sister and I have agreed upon a price, should I document it for Legal purposes (like an agreement)
Awaiting your esteemed response..