07/28/2026
Transferring property for a nominal amount, such as $1, can be done in some situations, but it is typically not treated as a standard real estate sale. When property is conveyed for less than fair market value, the difference is usually considered a gift of equity, which brings important legal, tax, and documentation considerations under West Virginia real estate law.
Our team at Bailey & Slotnick, PLLC helps clients navigate these complex issues to ensure transfers are handled correctly and with proper protections in place. If you are considering a gift of equity or other nontraditional transfer, we encourage you to reach out so we can review your situation.
Have questions about how a gift of equity works? Let us know in the comments or contact us at (304) 720-0750.
This is not legal advice and does not create an attorney-client relationship. Every case is different, talk to an attorney about your specific situation.
Give us a call at 304-720-0750 or email us at [email protected]