Selling the Family Home to Family Trust - at what value ?

[Bluekiwi]

What value can I assign to my family home.

I believe there are age limitations on the various options.

I would like to use CV but I think the last one was 2005.

I had a registeed valuation done in March, can that be used.

Would hate to have to spend another $500 plus on another RV

Anyone got the lowdown

cheers Blue

[PC]

What about going back to the valuer and asking them to update the March valuation.
Assuming no major changes to the property.
They'll probably do that for a smaller fee.

Else you can get a "Desktop" valuation for related party transfer
at a much cheaper price.

[CJ]

Get a real estate agent in. If that is close to the registered valuation then use that.

Just make sure you use a sliding value clause (your lawyer should know all about it) and you wont have any (major) issues with the IRD.

[Perry]

Use the lowest dollar value that will stand
the 'credibility' test. I suspect RVs are OK,
unless there's been some big change in
circumstances since its date.