Diane buys Greenacre for $100,000 (cash, no mortgage) and takes title in joint tenancy with Carl. Carl provides nothing toward the purchase of Greenacre. Assume that Diane and Carl are unrelated and that either can defeat the survivorship rights of the other unilaterally.

a. What are the gift tax consequences?

b. What are the estate tax consequences if Diane dies before Carl when Greenacre has a value of $200,000?

c. What are the estate tax consequences if Carl dies first?

d. What are the gift tax consequences if Diane paid $75,000, and Carl paid $25,000 of the purchase price of Greenacre?

e. What are the estate tax consequences if Diane dies before Carl when Greenacre has a value of $200,000?

f. What are the estate tax consequences if Carl dies first?

g. What are the gift and estate tax consequences in problems 2.a. and 2.b. If Diane and Carl were married?