What are the gift tax implications of transferring ownership of a duplex?

In the simplest terms, a duplex is a multi-family home that has two units in one building. ... Each unit of a triplex is self-sufficient, meaning each ... Mar 20, 2017 ... units, meaning ... Are you only performing maintenance or repairs and/or making cosmetic improvements to your existing house, duplex, or accessory ... Sep 18, 2023 ... A duplex is a versatile and practical housing option that offers the benefits of both single-family homes and apartments. ... house, townhouse, duplex, or land development directly related thereto. (3) "Contractor" means any person who has entered into a construction contract or a ... A duplex apartment is a type of apartment that is laid over two levels one above the other. Usually a duplex apartment is a residence covering two floors with ... Oct 2, 2018 ... Duplex: A dwelling unit designed exclusively for occupancy by two (2) ... Multifamily: Multi-family means five (5) or more dwelling ... The duplex layout allows for privacy between the two units, making it ideal for extended families or rental properties. 02. a residential building that contains ... 125.402 Housing law of Michigan; definitions. ... apartment houses, apartment hotels, bachelor apartments, studio apartments, duplex apartments, kitchenette. The most common and general definition of a duplex in most of the U.S. is two separate single-family units in one building on a single lot, often house-like, ... The main goal is to use the rental income to cover as much or even all of the expenses associated with owning the property meaning ... House Hack a Duplex. House ...