Clients who own their home, purchased condo, then rented to son 5 yrs, now transferred loan to son (no gain). They have no paperwork ??? What should I be looking for?

[IRonMaN]

A gift tax return.

[abctax55]

How does one go about "transferring" a loan?

I'd like to get rid of the mortgage on my office 🙂

[BobKamman]

Half the story?  I doubt they could "transfer" the loan without deeding the property to him.  And that might be considered a sale if the loan was more than their basis (for example, they refinanced and pulled money out before helping the kid avoid standing on his own two feet). 

[qbteachmt]

"They have no paperwork"

Nonsense. Deed/Title, loan documents, their original purchase info and the transfer info. It's all somewhere, if not still in their files. Bank, County records, etc.