Structuring Your Inheritance To Avoid Conflict
Designating children as beneficiaries to brokerage and bank accounts can lead to difficulties. Minor children can't inherit cash. You need to have the cash and financial assets in a trust with a trustee (and backup trustee) named until they become of legal age, or until you feel they are old enough to manage these resources appropriately. Leaving real estate to children can be tricky. It's expensive to own and maintain -- and they may not have enough income to keep the property going and they may not be living anywhere near the actual property.
Name Forged On Deed
A homeowner put her father in charge of her property and finances while she was incarcerated. During that time, the title to her home was changed to the father. When her dad "acquired" the property, he could only have obtained title in one of three ways and none of them would have been legal. Ilyce explains how titles are transferred and concludes that someone must have forged her name
Clearing Title Of Abandoned Property
A man owns property with his brother and wife. After his brother died, he never heard from his sister-in-law again. Now he has questions about home ownership. Ilyce explains that inheritance law will explain who owns the home and that he should check the abandoned property law in his state.
How To Find A Management Company For A Condo
Homeowners are members of a new condo association board. They are unhappy with the condominium management company hired by the developer. Here are some steps to finding the best management company for their new condominium building.
Mold Problems Kill Real Estate Deal
Mold problems can and should kill a real estate deal. A home buyer is in the process of buying a home that has problems - mold, termites and radon. After the seller fixed the problems, there are still extensive mold problems in the home.
Signing Home Over To Family Member
If a homeowner signs a home over to a family member, the original owner does not have ownership in the property and could not sell it. The new owner, upon selling the home, would be responsible for taxes and costs of selling the home. The new homeowner would also keep any profits from the sale.