A will, living trust and power of attorney are all useful documents to have in your estate plan. Which documents are right for you can depend on your situation and the size of your estate. Q: I would like to express my appreciation to you for your reply and guidance to a previous question some [...]
If you can't locate the documents releasing your from your mortgage, your settlement agent or an attorney should be able to help. Q: Back in 2004 I refinanced my house with Taylor Bean & Whitaker. My mortgage was not fraudulent but was purchased by Bank of America. The title search on my house came up [...]
How joint ownership affects capital gains tax. Joint homeownership affects who pays capital gains tax when you sell, the cost depends on several factors. Q: I own my house, free and clear in Arizona, together with my two sons. If I sell, the capital gains tax is 15 percent. Do we each have to pay [...]
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In most states, estranged spouses are entitled to a portion of their spouse's estate. Protecting your assets, as in this reader's case, can be complicated but an estate attorney can help. Q: I was married in 2010. My husband left me in 2014. In 2015, I purchased a house. I have four daughters, none with [...]
While there are several different types of real estate agents, each state has its own set of laws regarding how real estate agents may interact with buyers and sellers. Q: As a Realtor in Florida, I read your articles in our local paper (Sarasota Herald/Tribune). I think you should have clarified that each state has [...]
During a mortgage refinance, it's usually normal for your new lender to become the first mortgagee on your homeonwer's insurance policy before finalizing the refinance. Q: Should a mortgage broker or a lender name themselves as the first mortgagee on a homeowner’s insurance policy without first completing the underwriting process, appraisal and funding the loan [...]
A quality home inspection is crucial, but it's important to vet your home inspector before you sign a contract. Q: Can you please provide more information on one of your articles I recently read about home inspectors? The article paints home inspectors in a bad light. No home inspector should have a "liability buyout" clause. [...]
Questions of seller disclosure can be complicated. Here's what homebuyers should know. Q: I have a question about disclosure. My sellers gave me a disclosure statement that said there were no defects in the home. After we moved in and took down some drywall we found big cracks in the basement foundation. We also found [...]
When you sell your home, you have to pay taxes on the sale. As in this reader's case, factors like a transfer of homeownership can affect the taxes you pay. Q: I have read several questions on your site related to quitclaim deeds and the cost basis when the house is sold. My question is [...]
