Would someone who knows the Texas rules for selling vs gifting a vehicle to a family member (parent to child) please help me understand that process so I do it the right way.
I read that I can pay a $10 gift fee for gifting the vehicle. But is is also legal to sell the vehicle to the child for $10 and pay the 6.25% tax on that "sale" or is there some provision for fair market value? Thanks for the assist.
I read that I can pay a $10 gift fee for gifting the vehicle. But is is also legal to sell the vehicle to the child for $10 and pay the 6.25% tax on that "sale" or is there some provision for fair market value? Thanks for the assist.
