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Buying/transferring land from dad

I’ll try to keep this concise but with the needed details. So my dad owns about 4 acres in the middle of nowhere Oklahoma, with my childhood home and grandpa’s house on 2 acres that are currently being rented out. He had avoided putting my stepmom on the deed until recently and I’m betting that things will get messy when one of them passes away. With little hope of home ownership in my future, I was contemplating approaching him about buying an acre or so of land from him that I might one day build a small home to retire in. I guess I was just wondering what this would entail/the right way to go about it. Do I have it appraised and buy it? If he wants to “gift” it to me, can we just file a quit claim deed and he files that on his taxes? Basically, how does this work? And please, explain it to me like I’m five because I honestly don’t really understand most of this. TIA!

submitted by /u/OK_Tumbleweed18
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source https://www.reddit.com/r/RealEstate/comments/1swe21s/buyingtransferring_land_from_dad/
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