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

 Do you have to go to college to be a real estae agent?
...


 I just made an offer on a home in short sale (about to go to foreclosure)?
The owners accepted my offer and signed my contract, but the contract has to be approved by the bank. It takes up to 5 days for them to approve. My questions is--what happens if other offers come ...


 How can rent increase? Does the number of people in a house increase rent?
I just want to know what factors increase rent. I know that rent does increase yearly, but what else factors in the increase of rent?

Hypothetically... if 6 people live in a 2bd/2ba ...


 Can i use a personal loan for a deposit on a flat?
i have taken out a loan for 8k. i want to do a buy to let mortgage with another bank. will i be allowed to use the money from the personal loan(sorry if this is a silly question it's just that i ...


 How will I ever buy a house?
My husband and I have no money for a down payment or closing costs, is it absolutely impossible for us to buy a home for our family? I am so tired of renting and throwing my money out the window!! :o(...


 PrePayment Fees?
What are some lenders that waive pre-payment penalty fee's?...


 Is there a way to determine my home's market value without having to hire a professional appraiser?
Or do you really need a "licensed" appraiser to determine the value before placing it on the market? What would REALLY need to be repaired (fixed, replaced, refurbished, redone) before ...


 What are the odds that that I can be approved for a $200k - $225k mortgage??
I am a first time home buyer with under 20% to put down on a house. I make approximately $40,000 annually (gross). I have absolutely no outstanding debt and an excellent FICO score (760+ last time I ...


 Question about extending an apartment lease.?
Ok. Our lease ends Sept 1. We found a new place already, but it won't be ready to move into until Sept. 14 (I find this weird in itself, never heard of moving in in the middle of the month). H...


 Can a buyer ask to have the seller's agent to represent them, and why or why not?
...


 Could I afford a nice house and a Ferrari if I make about $120k a year?
If I'm a single guy with my college loans all paid off, working as a Dentist making a six figure salary (~$120), could I afford to have a Ferrari F430 (~$200k) and house in a nice neighborhood (~...


 Should I just go ahead and throw out all my furniture when I move out of my apartment?
I have a pretty bad german roach infestation, I have exterminated professionally 4 times and there still are german roaches in my apartment. I have used raid, boric acid, and also exterminated. S...


 What are some great ways to build equity on a home?
...


 I need to know the boundaries for a fence. Where can I find a drawing of my plot of land?
I can't find any "stakes at the corners of the lot".
My lawyer doesn't have it, we don't have it. The realtor doesn't have it........


 Landlord Charging $30/hr to paint Apartment?
I just moved out of my apartment 2 bedrooms 10x12ft a 10x15 Living Room and 6x12 Kitchen and 5x8 bathroom (approx). The only damage to walls was finish/picture frame nails left by the previous ...


 Housing Benefit?
Hiya all, Im pregnant due next month, and have been told that I can receive housing benefit?
How do I go about this? Do I look for accommodation first or fill in the housing benefit form?
H...


 How much commission ...?
would a Real Estate agent usually take home for a house sale? I have my house for sale by owner and it's been mentioned that I sould offer a commission or a fee to the buyers rep. How much?...


 What do you do when you pay your rent and they say you didn't?
My ex-boyfriend paid my rent on-line 6/09 because I let him borrow money. He made a payment on his credit card and sent me the confirmation number (which I have). Two months later they send me a ...


 Who are mortgage brokers,What do they do?
Are Wells Fargo & Bank of America good at mortgage lending,We got pre approved in wells Fargo where we got the interest rate at 6.25%,Is that a fair one or do we need to shop around before ...


 Where can i find real and GOOD info on something wrong my land loard is doin?
i signed a year lease which was done on the 1st of this month.it's my first time renting so i was no awear of having to give a 30day notice but b/c of the lease i thought i didn't have to!...



Bonsylar
How do I get a mobile/manufactured home put only in my name.?
My auntie is "helping" me take possession of a mobile home I inherited from my uncle (her brother).

She said it had to be put in her name as well as my name to avoid an inheritance tax and/or a gift tax. Why?

She said that in time (she didn't say how much, it's going on a year and a half) she would take her name off, but she's dragging her feet.

She's also keeping me "in the dark" about the process and procedures.

How do I get her off the paper work?
What agency deals with mobile home registration and taxing?
Can I get copies of everything from the city/county? How?

What else do I need to know about mobile home ownership?
                     
 




Aspen Dreamer
You failed to mention your age and what state you are in...
This all hinges on where you are, because laws vary state to state..
I wouldn't take advice from people on Answers because we are all just guessing, since we do not know every detail or what you failed to mention...
I would go see a lawyer...
Get one that gets paid at the end of a lawsuit...


teaser0311
I think she lied to you. First, you need to understand that a mobile home is just like a car. It has a title of ownership. It's not a deed. However, if the mobile home sits on land, and your uncle owned the land, and what was bequeathed to you was both the mobile home and the land it sits on, then there is a deed (to the land) in which case, there would be a deed to the land, and the mobile home would be included on the deed.

The answers to all of your questions depend on where you live, because laws vary by state. It's likely that you can find a web-site for your state government that includes a way to search state statutes. (Florida has it.) You need to learn about probate law. Any state I've ever lived in did not have an inheritance tax when property was left to the spouse. But, I've never heard of avoiding an inheritance tax when something goes to a sibling. I could be wrong, but that sounds fishy to me.

Once her name is on the title and/or deed, you can't get it off, without her signing it over to you ... unless she defrauded you, in which case you'd have to go to court over it.

If you were a minor when your uncle died, then it would make sense property couldn't be titled in your name alone. But, if that were the case, it should've been titled in the name of a trustee for you, in which case if she were designated as trustee, then it would be both her name and yours. If a trust were set up, that's something you should know about.

You can get copies of the Will from your County courthouse, and that sounds like a very good idea. Just look up the phone number to the probate office for your county, and if you can't find a number for the probate office, look for an information number for the courthouse. Try yahoo yellow pages.

The executor/executrix of the Will has a legal responsibility for carrying out the terms of the Will. Presumably, if your auntie had the legal authority to tack her name onto the deed, she's probably the executrix. That being the case, she'd be responsible for proving she did what she was supposed to do, and if she does anything shady, she can be in big legal trouble. Again, if you were a minor, she might've done everything acceptably, except for if you're no longer a minor, there's no excuse for her not signing your inheritance over to you.

I wish I knew what state you're talking about. It upsets me when relatives get sneaky after a death, and your auntie is definitely being sneaky. The only excuse for keeping you in the dark is because she's got something to hide, which either means she's deceiving you, or she's ignorant. Neither is acceptable.

Email me if you need some help tracking down statutes.


krazykyngekorny
If there was a will and you were named solely, you can sue for sole ownership, but time is running out.

If there was no will, she legally owns it and can do as she pleases.

However, you can refuse to pay any taxes, and she will pay up or lose it all. I suggest you consult an attorney, even if you are a minor.
______________________________________...
KrazyKyngeKorny(Krazy, not stupid)
¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯...


Lisa R.
First off , if this was left to you through an inheritence then she has no right to be on the deed at all. You are the owner of this mobile home and you do not have to share that with her or anyone else.
There may be taxes due but that is the same with any home.
She may have good intentions but as long as her name is on your moble home, she is partial owner and is entitled to half of whatever it's worth if something should happen to you.
I would speak to a lawyer about this and see what you can do legally to get her name off your deed. Ask what the legal ramifications are and what costs you will have to absorb if you take this action.


Expert Realtor
Rating
She is WRONG. Unless you are inheriting in excess of $250,000, you don't pay inheritance taxes.

Even if it WERE worth that much, putting it in the names of multiple parties doesn't avoid the tax that is owed.

She just conned you into owning 50% of the property and unless she is voluntarily willing to quit-claim it over, you'll have to go to court to get sole ownership. You cannot remove someone's name from a property without their permission.


Cynnek.blogspot.com
Rating
Go seek a Real Estate Lawyer about this ASAP.

Sounds like your aunt is trying to take ownership of the property herself and she might be entitled to it.

If you're asking the questions your asking, this is not something you should try to resolve by yourself.


emeraldseye
Rating
It looks like when she tried to "help" you, all she did was "help" herself to half of your inheritance...all is not lost though. I will try to address each of your questions individually and hope that I don't lose you on the rhetoric. Real Estate is a big mystery to a lot of people, but I have 12 years in the business, and I know my stuff.

I don't understand why she said she had to put her name on it as well as yours to avoid an inheritance tax or a gift tax, I haven't quite ever heard of such a thing. I can only assume that she did that to have a vested interest in the property.

I don't know what state you live in, but the laws on property ownership are basically the same in every state, and some have little quirks, your best bet is to consult a real estate attorney. However, you can have a special warranty deed drawn up and in good consideration (usually a nominal amount, we use $10.00 in Texas) you can have her sign her ownership interest in the property to you directly.

The process and procedures for doing this are very basic, if you know where to go. As I suggested, you need a real estate attorney, however a title company in your area can also draw up the paper work you need. Your aunt, yourself and a notary will have to sign it and it is all recorded at the county clerk's office. You did not mention if this property has a mortgage on it, so I cannot tell you if it will go to the Mortgage office or the Conveyance office.

Your name is on the property as well. She cannot keep you from getting the paper work and it is all safely kept at the County Clerk's office and the paper work is available to the public, even IF you aren't on the deed. I suggest you start there and get the Volume and Page number of the Instrument that was recorded at the time of your uncle's death regarding the property. You will need his name, your name, your aunt's name, the property address (legal description would be helpful - that is the lot and block of the subdivision the mobile home is residing at presently).

I don't know about Mobile home registration, I haven't ever heard of such a thing, once the mobile home is sold and moved, the only thing left are the tags (serial numbers) on the outside of the mobile home. They are only used to track ownership at that point. The taxing authority is the county tax assessor. I live in Texas and I can go to the Tax Assessor's office and all I need is a property address and pay a nominal fee for a tax certificate and they give it to me on the spot.

I don't know what you are asking about mobile home ownership, the question is too vague. If you are living in the property or planning to rent it out, it is up to you. If you want to move it, you need to find out if you own the land it is on, that is important, you also need to know if the axle and tandem have been removed, if they have, you may not be able to move it until you have someone come out to look at it to see if you CAN move it.

I hope this helps you some. If you have any more questions that I can help you with, please feel free to email me at emeraldseye@yahoo.com.

-Em


LEC
There are a lot of issues with mobile homes. The variables include the state you live in as well as local ordinance. If it is considered a "mobile home" then the registration and taxation go through the County Treasurers office via the Department of vehicle registration. Same as cars, trucks, and boats. If it is on a lot away from a park and is on a foundation then it is through the county clerks office. You can draw up a Quit Deed and ask your Aunt to sign it, but if she has some reason she doesn't want it out of her name you need to address those concerns. Regardless of who ended up with the trailer you or her they may or may not be an inheritance tax but that would have occurred the first tax season after the death of your Uncle. But I don't think there is such a thing as inheritance tax on a trailer; probably the county would require the new "owner" to pay a sales tax fee for transfer of ownership. You don't indicate how old you are or why its such a bother for your Aunt to have her name on it. Maybe you want to sell it and she doesn't think that is a very good idea??? Regardless, until she is willing to sign it over or take her name off the registration there isn't much you can do.


Leo F
Rating
First there is no inheritance tax under $650,000 in the US So she is blowing smoke up your butt. I did not pay one dime on $ 350,000


crackbaby_too
Rating
What you need to know about mobile home ownership?
DON"T DO IT!!!! RUN NOW GET AWAY FAST!!!
I was raised in a 14x70 trailer from age 1 to 14 then like an idiot my ex-husband persuaded me to move into a 14x65 when I was 19, it would be another six years before I would finally just leave, taking my things and leaving the rusting leaking falling apart piece of garbage.
After living in apartments for a few years (where landlords are responsible for fixing everything and cutting the lawn), I now live in a 3BR two story house, that won't blow away in a windstorm or burn to the ground in 30 seconds.
Mobile homes are death traps that envelop the inhabitants in a perpetual cycle of poverty.
If I save one person from Trailer Hell, let it be you.

Get the title (it has wheels they title it like a car), sell the thing and invest in something better, like college.
If it comes with land you could keep the land and have a scrapper come take the trailer or sell it cheaply on craigslist to someone to move to hunting property.


 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. 0.014
Copyright (c) 2011 Financial Crisis Monday, May 28, 2012 - Terms of use - Privacy Policy