The concept under consideration pertains to conveying property rights from one party to another, not through a traditional market exchange for monetary compensation, but via alternative legal mechanisms. Examples include gifting the property to a loved one, adding a family member to the title, or utilizing a trust to manage the asset’s future distribution.
This process offers several advantages, such as facilitating estate planning, potentially minimizing tax implications associated with inheritance or capital gains, and providing a streamlined transfer of assets within families. Historically, these methods have been employed to ensure familial wealth preservation and to address evolving personal circumstances without triggering a taxable event like a standard sale.
