Real Estate Minute: What’s Your Disaster Plan?
Real Estate Minute with Ilyce Glink What’s Your Disaster Plan? Original Air Date: September 2006
Setting Up Condo Association
Normally, condominium associations are not-for-profit corporations, and each state has specific guidelines regulating them. One guideline is to have a registered agent for the condominium association. If the condominium association is involved in litigation, the registered agent is the person who will receive the legal notice of the suit.
Bankruptcy Doesn’t Change Home Ownership
A reader had owned a home with her boyfriend prior to falling ill. Her boyfriend filed for bankruptcy and now claims she no longer has any interest in the home. Ilyce suggests she check with the bankruptcy court and check to see if the boyfriend has forged her name.
Life Estate On Home Could Lead To Gift Tax
Receiving a life estate in a home means the home belongs to you and you can do as you wish with the property, except for sell or transfer upon death of the holder. Giving someone a life estate could result in a gift tax. Talking with a real estate attorney should help determine a way to use a life estate without incurring a gift tax.
Timeshare Forgotten In Divorce
A timeshare investor forgot about a debt owed on a timeshare that she and her ex-husband purchased before their divorce. She does owe the money for the timeshare, and it will start to affect her credit history, if it hasn't already. All consumers should think very carefully before purchasing timeshares, it might turn into a long-term arrangement you will come to regret.
Real Estate Minute: Grandparents Help With Saving For College
Real Estate Minute with Ilyce Glink Grandparents Help With Saving For College Original Air Date: July 3, 2006