Compute the amount of the gift

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Reference no: EM13999259

Drew Man owns land worth $60,000 with a mortgage of $20,000 against it. Drew is not personally liable for the debt.

Drew gives his property to his daughter.

1,Compute the amount of the gift
2,Describe how your answer would change if Drew were personally liable for the debt in a state where the done is subrogated to the rights of Drew's creditors.

Reference no: EM13999259

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