 Do you know any on who can help save my house? |
| i got hurt at work ,and can not work the mogt people redid my house note , to help me out it went down to 563.00 now there calling me and telling me it is back up to 824.00 i only get 827.00 a mo ... |
|
 Is this a scam? |
I have my house listed online and I have been eamiling this guy back and forth. He wanted pictures of the home and so on and so on...and the lowest price and then I got this ermail from him
... |
|
 My next door neighbour has put his house up for sale my question is ? |
| Why does he think it is worth a small fortune. It is a poxy little 2 up 2 down.... |
|
 I have £225,000 cash in the bank.? |
| do you think i should wait for a resession before i buy when the property values crash to buy a big ... |
|
 In a rental apartment is it ok to have a fish? |
| We are renting an apartment in which the contract specifically said 'No Pets'. Fair enough that cats, birds and dogs ruin the place with their poo and fur and feathers and scratching. Of ... |
|
 Which type of mortgage is best? |
| Which is better, 10 yr fixed mortgage or a 30 yr fixed with extra principle payments?... |
|
 Am I wrong or is my mother? |
| I made several financial mistakes which have hurt my mothers financial stability. She had financed a house for me which I was responsible for making the mortgage payments. As of know the house is in ... |
|
 If I add a 2 car garage to my house, would I still have to pay PMI? |
| If we add a garage to our house and that makes the value go up, would we still have to pay PMI insurance? We are paying 80,000 for the house and there is no garage. If we added a 2 car garage would ... |
|
 How to handle the Death of a Tenant? |
| My tenant passed away last week. Aside from the fact that she has not payed me the rent for June, she is survived by her 17 year old daughter and 14 year old son. Is it legal for me to vacate them? H... |
|
 Is it true that estate agents wait until a friday ...? |
before giving you the keys to your house?
What day did you get the keys for your home?... |
|
 How do i look up?...........help? |
| How do I look up what propery or building used to be on the land where I live at now? I want to find out because I think my apartment is haunted. Does anyone know of any websites where I can look up ... |
|
 Can anyone suggest a good company to refinance with? |
| Has anyone ever heard of Refinance.com or refinanced with them?... |
|
 What adds value to a house? |
Please help i can't decide!
What adds more value to a house-:
Having 2 reception rooms (1 lounge, 1 dining room)
OR
1 lounge and a big kitchen, diner
My house has ... |
|
 Does having a pitbull next door make your house harder to sell? |
We don't have a fence between our yards. The dog is in a large fenced cage.
Additional Details
Pitbulls are not banned in MI. We are not allowed to put up a fence.... |
|
 Buying a House - Making a low-ball offer to a "DESPERATE" seller... Advice??? |
| Found a 12 yr old 3,200 sqft house we want to buy that needs some work. It has been moved 200 yards to make way for a new development. Its structurally sound but needs new kitchen countertops (... |
|
 What rights do tenants have if a house they're renting is taken over by the bank (landlord not paying mrtg)? |
| We found out a week ago that our landlord wasn't paying mortgage on a house he leased us, and it's up for foreclosure, some huge company took it over, and are evicting us, giving us $500 to ... |
|
 In a financial nightmare, mortgage? |
Help!
We live in flordia and now owe more than the home is worth. we purchase the home 3 and a half years ago for 225k. we got into one of those ARM/intrest only gigs. well the first three ... |
|
| Should me and my common law girlfriend buy a house together?? |
| I have been living with my girlfriend for the last 5 years and we are looking at purchasing a new home....TOGETHER... is this a good idea...or should we wait till we get married... not really in a ... |
|
 Can my landlord deduct £570 from my deposit? Is it legal? Can I dispute it? |
I have recently vacated a flat that we looked after impeccably. The landlord claims to have found a small stain on a mattress that he describes as the size of a finger nail.
He is now ... |
|
 The owner of the house !! HELP !!? |
The owner of the house I live in told me that in 3-4 weeks I'm going to have to move out !
She put her house For Sale on November of last year, but in the area we live it's very ... |
|
|  |
bigred | My Dad died and my Mom wants to sell me her house for $1.00. How does she go about it and it be legal? |
My Mom doesn't want to bother with a realitor because she can't afford it and I can't afford to pay any more. She just wants a simple thing between her and I, but we want it to be legal in case of her death. What should we do? |
 |
 
concordbridge
|
Sorry you lost your dad. You and mom must miss him a lot.
Different states have different rules. You have to make sure you comply with the rules in your state.
If she wants to bequeath the house to you or make sure you have it before she passes, the easiest way is to NOT sell it for $1.
Buy a deed -- grant deed or bargain and sale deed from a stationary store. Cost? Less than $2.
You will use language something like:
Evelyn Johnson conveys the property (legal description from your property tax records) to
Evelyn Johnson and Tammy Johnson, not as tenants in common but with rights of survivorship.
If there is a blank for consideration, just put zero or 'love and affection' I like to see that on a deed.
You will have to sign in front of a Notary or both of you just go to the county courthouse, Records Office. Sign it in front of the Records clerk and bring two pieces of picture ID.
Both are now on the title. Beware, if you get sued, you now have an asset and are at risk.
Make sure you record your Dad's Death Certificate, too.
There might be tax consequences if she passes and you sell the house. You should look to IRS.gov for that.
There is not enough information and it is too big of a topic for this forum.
I am not an attorney, I am not YOUR attorney. Nor to I play one on TV. You mileage may vary. The opinions I posted are not legal advice.
Leigh M
Portland
http://www.LeighMaynard.com |
|
Jeffrey F
 |
get a real estate lawyer and sign the papers. the $1.00 is exchanged because the property is deeded and in order to be legally binding contract, money must be exchanged for the property.
It will be a simple closing, less the paperwork for the mortgage. |
|
Kokopelli
 |
A sale of real estate is a deed transfer. In this case it would be a deed of the property from your mother to you. You do not need a realtor at all since you are not looking for a buyer. Because your father is probably on the original deed ask a lawyer about the implications of a death of one of the parties to the original deed.
Upon your future sale of the property you may have no tax to pay because you would be elgible for the one-time exemption for capital gains on the sale of your residence. |
|
Kaz
 |
For the most part, everything that you have been told thus far is correct, however, one thing that I have not read yet is whether there is still a mortgage attached to the property. If this is the case, then you cannot simply sign the deed over and everything be okay. The mortgage would still be in your parent(s) name(s). Make absolutely sure that there is no morgage on the property. I would even go as far as calling a title company and asking them to pull title on the property to see if there are any other liens on the property that could possibly make a mess of things. Do your homewok on this. This is a great deal, but be sure to talk to a land title company and or go to your local county court house and pull the mortgage records and lien records on the property. Also make sure that the taxes have been paid up as well.... |
|
Alamo Real Estate Team
 |
QUESTION FOR A REAL ESTATE ATTORNEY. PERIOD.
Make sure they specialize in Real Estate. You'll get eaten alive by taxes, but they may be able to help lessen the blow. They may even set it up in some kind of corporation for you to avoid them all together.
Bottom line, get off of Yahoo and get an attorney! You'll be sorry if you don't. |
|
Always Right
|
give her a dollar and she signs the deed over to you. |
|
concerned
|
Grest deal! I would pay her and get that deed!! |
|
incomechooser
 |
Sorry to hear about your Dad.
I have a membership that lets me talk to my lawyer all I want.. doesn't matter if something happened, or if I'm worried about something happening. It's great.
www.prepaidlegal.com
/hub/eriknsimilkier |
|
¨¨ §ìr Çhìçkëñ Ìïps ¨¨
|
write it up as a reciept, you will have a hell of an earned income tax bill if you ever sell it. |
|
Bri
 |
My parents did this to me and I just sold it back to them for the same dollar. If you do not get a good answer I will call them and ask just let me know. I did not have to pay taxes or anything. Just the somethings that your mom is currently paying will now be in your name. |
|
christiangirl_melissa
|
I don't know the laws in your state, but in some states you can simply have her transfer the deed to your name. This way it stays in the family and no money is exchanged. Hope this helps! |
|
dianapebbles98
|
since you are the child of the owner this should be a simple "transfer of deed" - i dont even think you have to pay the dollar. most situations like this are exempt from all the paperwork when the transfer is going from parent to child. definately sit down with a real estate lawyer in your state & pay for an hour consult. while your at it hire a tax accountant that specializes in real estate to see what, if any, the tax ramifications are. you may be better off keeping it in your mothers name, adding yours as a secondary & getting a "living trust" in order. the living trust will enable you to take over the property without probate (even if she has a will you will have to go through probate) should something ever happen to her. in the meantime, the clock does not start ticking on when you started earning capital gains (that is the difference between what the home was worth when you acquired it and what it is worth at the time that you sell it). it shouldnt be too difficult to deal with, however, it ISNT as simple as "give mom a buck & she signs over the deed". there is more to it than that! the living trust will probably be harder...good luck! |
|
| |
|
| | |
| Questions List |
Answers | Last Post
| | | |
11 | 7 minutes(s) ago
| | | |
13 | 21 minutes(s) ago
| | | |
12 | 2 hour(s) ago
| | | |
12 | 5 hour(s) ago
| | | |
12 | 9 hour(s) ago
| | | |
12 | 2 day(s) ago
| | | |
12 | 6 day(s) ago
| | | |
12 | 2 week(s) ago
| | | |
12 | 1 month(s) ago
| | | |
12 | 5 month(s) ago
| |
|
Homepage 
Financial
Forum 
Renting & Real Estate 
No Spam
Adult 
Gambling
Unfinished
Deception
Plagiarism
Not English
