Originally Posted by Brat
My sister wanted to buy the house from my parents (parents had other plans) so she filed a complaint with IRS. They told her to get a life.
That put a smile on my face. Never thought I would say this, but here it is "Way to go IRS!"
I think OP may be right about the gift tax situation, but I know Brat is right in that the assessed value and what that sucker might really sell for could be quite different. Check some comps and see - heck, you might even be over-paying!