Home | Links | Contact Us | Bookmark
Financial Forum Search :
   Homepage      News      Financial Topics     Finance Directories      Financial Forum      Dictionary  
Financial Forum    Renting & Real Estate
Finance Discussion Forum

 Question about my condo?
Our condo building is very nice, but the walls in the stairwell have gotten dirty over the last three years--the paint on the walls is a flat paint-basic that can't be cleaned by wiping the ...


 How to stop a foreclosure?
I was diagnosised with cancer in April of this year and have to undergo to different surgeries thus causing me to lose my income. Due to the excessive medical bills we are currently behind on our ...


 Help, how much roughly will I need to pay to rent?
When I will start my apprentiship I should be earning at the least £10,000 a year but thats not including tax etc.
Me and a friend earning very similar want to start renting a flat but were not ...


 What is the average time that a house is on the market?

Additional Details
How about in Georgia?...


 Re-Financing Mortgage-Why do i need a Apprasial?
I am comptley lost on mortgage issues. We are trying to refinance our motrage and they said we need an apprasial. Why do we need it? They said it costs $375 to get this. Why is it so much? Is it ...


 Mortgage loan approval?
When applying for a mortgage loan, and you are approved for 150k and the house you want to purchase is 130k, can they still loan you the balance of 20k (for like painting or furnishing the house) or ...


 Any suggestions on how to leagally irritate non paying bums to get them to leave a property?
They have been living there since Oct and it was actually sold to them on a land contract so in Michigan they have 90 days to get out. We received that info yesterday at court. We will lose the house ...


 Is it a requirement in PA that a landlord must repaint the apartment for new tenants?
our apartment has some major holes and exposed brick, rusty heaters,dirty carpets and yellowish stains on the celling. We just moved in, the house was build in 60th(lead paint was used); the landlord ...


 Does this sound okay?
My husband and I are looking at houses because we are expecting our first child and our little 2 bedroom house is too small! However, we do not have enough money for a down payment. So we were ...


 Help! Landlord wont give deposit back!?
I need your guys help, We've "checked out" of our unit, agent confirmed no damages etc, we have paid all our bills up etc, but now our landlord has disappeared and wont return our ...


 Does anyone know who can save my home from being forclosed i filed bankruptsy but im still 5 months behind?
...


 Is there a better way to get a mortgage than going through a bank?
I don't feel that my credit score accurately reflects my credit worthiness. Where can I find a lender that reads in between the lines?...


 If I buy a house by 95%mortgage, can I make conversion in my house within the first year of pay back my mort?
I am a first time buyer, so will I face any barriers to the mortgage supplier when I convert my house before i pay back all the mortgage?...


 How can i evict someone from my own apartment?
i live in los angeles. i don't expect the evictee to be violent.
Additional Details
in california there is a law preventing people from being kicked out of a place that they have ...


 Can my landlord throw me out if I dont sign a new lease?
I live in New York and I am not to sure If I want to stay in my apartment. I am not ready top move but I dont want to be stuck for here for another year. Can he tell me I have to move if I dont sign ...


 Can my landlord kick me out for having sex?
I rent a room in a woman's suburban house in Missouri on a monthly basis, and the other day she asked me to not have sex in her house anymore. I asked if she just wanted me to keep it down, and ...


 Can I afford this home?
I make 1800 a month with taxes and health benefits taken out. My bills add up to 1400/month (Utilities, Gas, Food, Phone, 300 in savings). Mortgage would be around 750/month. Can I afford it? Is it ...


 How do I quit the HOA (home owner's association), does transferring the deed helps?
PLEASE READ before answering irresponsibly:
The HOA my house is in does not care for trash or water or anything that I know of because I pay for all those bills. In addition, there is NO gate or ...


 Do you think a landlord will let me work out in their gym if I pay them every week or month? ?
I don't live in the apartments, but they are the closet thing to me and the real gym is to much for me to afford since I'm still in college.If yes, how much should a pay each week or each ...


 Landlords, what advice do you have for renting to prospective tenants?
Other than performing background checks, verifying income source, calling previous landlords, and pulling a credit report, what else should a new landlord consider before renting out their property? T...



big G
Can other members of my family claim rent from the house i live in as it is part of a family inheritance?!?
been living in the house for 8 years with my father when he passed away. i have continued to live in the house, rent free while the estate is sorted out but another member of the family is questioning the fact that they could of been claiming rent on the property, as said person in theory owns part of the property through inheritance. Is this feasible legally or just plain greedy?
                     
 




Janet P
Rating
You are living in their property rent free and you think they are "plain greedy"? Hold a mirror up.

Unless it is agreed that you will maintain the property, show it while it is sold, etc, you should at least pay something into the estate. The house can legally be rented out during probate, so the rest of the heirs are loosing money every month you freeload.


chatsplas
Rating
not enough information

your father owned the home and you lived there with him
he died and left home to his children, all of whom have an equal right to live in the home they own toegether, without the right to exclude anyone
generally such a home will be sold and proceeds distributed amongst the heirs
frequently one family member agrees to buy out the others

whether rent should be charged is a question for the executor or administrator of the estate until the estate is settled. . .and it's not unreasonable to expect rent after a couple months


glenn
Rating
You have been living in the house rent free for eight years?

Are you an adult that could afford a house on your own or is there something that prevents you from supporting yourself?

I think you should either buy the house from the estate or agree to start paying rent to the estate or move out (Unless you have a difficulty supporting yourself).

This is quite often the way things like this are handled.


jed slade
This depends on the conditions in your fathers will( if any ) and the local laws on inheritance of the country you live in and rights of occupation and tenure.Once the legal aspects on the dispersal /disposal of the estate are sorted out, then it can be divided up or sold as the case may be.There could possibly be a case for this payment of rent in the right circumstances,but normally the petty squabbling starts over shares.


goz1111
Rating
One things is for sure eventually something is going to happen, and all the assets will be sold and split up between the heirs unless you have the resources to buy out the other heirs


froggyherts
Rating
If you're only living there while the estate is sorted, then the person is unreasonnable and you could point out how much a house sitter would cost for the same amount of time.

On the other hand, if that person is paying either a high rent or a mortgage, then you can see their point as you are not paying anything, so if the legal work takes a long time, more than usual, you could offer a small contribution (worked out on average rent in that area, divided by the number of people on the estate and minus any maintenance cost to the house) if you know they are in financial trouble - after all I assume they are family.
I would try and sort it without going the 'legal' way as it will cause resentment and cost money - anything involving a solicitor costs far too much anyway. But make sure any money you give is fair (all the people having a proper claim on the estate get the same, and you don't end up in trouble yourself either) and properly recorded - no cash in hand, even with family.


david h
Hopefully your father left a will and his wishes of who inherits what, will be carried out. It gets complicated when a house is left between several people , either the house is valued and if possible one person will buy out the others and become the sole owner.Often with house prices being so high this is not an option so the house is sold and the money divided up between several people.
In the mean time it is probabily a good thing to have someone live in the property to keep the heating on - stop vandals etc and maintain the house and garden to help sell it in the near future.
Hopefully you can pay the council tax and make some contribution to looking after the property that may go some way to offsetting the fact you are living there rent free.
I hope you manage to resolve your differences and remain friends with your other family members and dont argue over money.However try to see their point of view and if posible help to sell the house and share out the money as quickly as possible rather than become a sitting tennent while they wait for their share of the house sale to materialise.


Jeanne R
While you have been living rent free with your father in his house, when your father passed away the house became part of the estate. It would not be an illegal request for the executor of the estate or the administrator of the trust to require the property in the estate to produce income for the estate. After all, if your father owned an apartment building, you wouldn't expect that the renters would be able to live in the building without paying rent while the estate was settled, would you? Actually the executor or administrator had a fiduciary duty to the beneficiaries of the estate. That duty includes increasing the value of the estate as well as preserving the value. I realize that you may view the request for rent as being greedy, but from the other perspective, you may also be viewed as greedy for having lived rent free for the past eight years. After all, the other beneficiaries have not had the benefit of the property that you have already been enjoying.


.
Rating
More greedy than anything else.


 Enter Your Message or Comment


User Name:  
User Email:   
Post a comment:







Archive: Forum -Forum -Finance - Links - 1 - 2 - RSS - All RSS Feeds
The Causes and the Results. 0.284
Copyright (c) 2011 Financial Crisis Tuesday, May 29, 2012 - Terms of use - Privacy Policy