I am a 63 year old widow, owe $60,000 on the home and have app. $100,000 equity. I want to sell him the house for $60,000 and he wiill borrow that amount so I can pay off my mortgate and gift the equity. I have not gifted any amount previously. I want my son to be able to sell the house and use the equity to purchase a home in another area of the state where he lives..
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