John and Susan are getting divorced and their attorney has advised them that Susan will receive the family home as part of the property settlement. Six months later, Susan decides to sell the home to a third party. What are Susan's SPDS obligations for this sale?
Correct Answer
B) Susan must provide an SPDS for the sale to the third party because it's now an arm's length transaction
Susan must provide an SPDS for the sale to the third party because this is now an arm's length transaction to an unrelated buyer - the divorce exemption only applied to the transfer between spouses. The divorce exemption is not permanent and doesn't extend to subsequent sales to third parties. There is no one-year grace period for SPDS requirements after receiving property through divorce when selling to third parties. SPDS requirements are mandatory for qualifying transactions, not optional based on buyer requests.
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