A lawsuit can be filed for almost anything, under any set of circumstances. Learn more here about what kind of lawsuits are out there, when you should file, if its worth it and when legal action is necessary.
House Owned By LLC
If a house is owned by an LLC (limited liability company), the owner is that company. In owning a house, an LLC would be no different than a corporation owning the home. Just like a person, an LLC or a corporation can hold title to a house and other sorts of real estate.
Title Insurance Company Can Discover Deed Problems
Is a general or special warranty deed better for selling property? When selling a residential property, the type of warranty deed you use, or title, isn't so important. A special warranty deed is usually used for commercial real estate sales. During the home sale process, a title company will run a title search and discover any problems with the deed or title. Usually a general warranty deed is used when selling a residential property.
Lawsuit May Be More Trouble Than It’s Worth
A borrower worked with a debt management company in another state that did not provide the services they promised. Now the borroweris trying to get a refund for those services.The borrower has done all the right things by filing complaints with various agencies, but the difficult task of suing the company may be their only resort. In some instances, you might pay more in legal fees and costs that what you recover.
Refinance Or Sue To Get Name Off Mortgage
When you buy property with a partner and you're not married and you haven't signed a partnership agreement, it can be difficult to undo the transaction. To get your name off of a mortgage for a property that you no longer own or live in you need to have the other person refinance the mortgage or sell the home. If the other person refuses to refinance or sell, you may need to go to court to force a sale of the property.
Home Inheritance Requires Home Repair
When doing estate planning you may want to consider who will get your real estate and whether those heirs can afford to maintain the real estate. If multiple family members inherit a home together how can they ensure that home repairs get made and that everyone pays their fair share? This is also an issue for property taxes when there's a home inheritance.
Large Gift Leads To Problems
An elderly woman sold her home and gifted a large sum of money to her daughter with the understanding that she would be taken care of. Now, the daughter is not holding up her end of the deal. Does the mother have legal recourse?
Subleasing Rental Property May Be Illegal
A renter has been subletting an apartment and paying the original tenant the monthly rent. Now it turns out that the sublease is illegal and the original tenant may not have not been paying on the lease. The subleaser may be obligated to pay back rent to the apartment owner. In general, if you're going to sublease an apartment, you have to make sure the owner has knowledge of your existence, has consented to the sublease in writing and that the parties understand who will be paying what and when.