Incorporation? That’s exactly what’s done in the People’s Republic of Maryland to avoid the taxes on the transfer of real estate.
Incorporate, contribute your home in exchange for stock, sell the home through a sale of the stock and avoid the real estate transfer fees!
Even this is not enough of a benefit for businesses, so they arrange these mildly complicated deals so that they can transfer properties from one company to another without it being classified as a sale.
There are business properties in California that have changed hands several times that are still paying taxes near the original rates when Prop 13 was put into law.
Of course I'm supposed to be OK with anyone who can legally avoid paying taxes. I'm just wondering why farmers, who tend to be among the wisest (bookwise and streetwise) haven't figured this out yet.
“Incorporate, contribute your home in exchange for stock...”
And what happens when the government declares that all corporations are now owned by the “People” due to the “current crisis.” It could happen. That incorporated home would be taken.