Newsflash: Married couple + mother to buy property.

Hello and thanks ahead of time for your attention and help.Our Intention is for my wife and I to put our funds together with my elderly mom and after she passes away the property to go to us with as little tax penalties as possible.From reading around it seems we should buy the house with Joint Tenancy with Right of Survivorship.Is this the best way to avoid tax penalties when later selling the property after she “leaves us”?If my wife and I put in $250K and my mom puts in $250K… when we get Right of Survivorship can we claim the $250K she put in as part of the $250/500K realestate tax exclusion?State: California.We will talk to an attorney and accountant before committing but wanted to research as much as possible before hand.



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