I own 3 restaurants (one of which my wife and I bought in 2014. The other two I had before we married). This 3rd restaurant operates under one of my original corporations formed in 2005, and she would like to buy me out (we are divorcing amicably) and I need the expertise to properly set her up... Read more »
First of all, congratulations on working this out amicably. Dividing up these assets will involve at least one written agreement between the two of you, and should also include the formation of a legal entity by your wife, as you indicate. I strongly encourage you to seek legal counsel to assist...Read more »
Partner and I are separating. We share bank accounts and all bills. She wants to keep the house and I'm fine with that. But we have built equity and as far as I'm aware, I get 50 percent when my name comes off of it. Is this correct and if so, what's next? Thank you.
The answer depends on A) how you and your partner hold title to the property and/or B) how you and your partner agree, in writing, to split the proceeds of sale of the property. The answer should be covered by A. As long as you are both on title as owners of equal shares, you will split the equity...Read more »
If your mother was competent when she made her will, she was entitled to leave her house to whomever she wanted. There is no legal requirement that a parent leave property equally to children. If you believe she was not competent at the time she prepared her will you should consult an attorney.
To see if the judgment has been filed as a lien against your house, you can ask a title company to run a property profile or a preliminary title search on your home. That will reveal if the lien has been filed. If so, and the house is in both your name and your wife's, it is likely the lien...Read more »
My ex & I are recently divorced. We sold our home, it was financed in his name only but titled in both. Do we split a refund check from the mortgage company made out to him only? I certainly hope so because my income was used the whole time to make the mortgage payment. Please advise, I... Read more »
There is no general rule in real estate pertaining to this situation. This issue should have been addressed in your asset split in the divorce. Your family law attorney should be able to answer this question, or the answer should be in your marital settlement agreement.
Our neighbor refuses to pay half, says he does not have the money and doesn’t need a permanent fence since his stock is trained to electric fence. Said he will just go back 10 foot and install his electric fence. Is that a way to avoid paying his half of costs ?
In missouri, we moved out and had a charge through our online resident portal within 30 days. There was no itemized list. After those 30 days, we received an itemized list of charges thru an email. Do we have to pay the amount even though we did not receive the itemized list until after the 30 day... Read more »
My ex partner and I bought a house together 13 years ago. She lived in the house for 3 months then left. She has not paid any of the mortgage, taxes, repairs ect. We only paid $2500 down at the time of mutual money. I want to refinance but she refuses to sign quit claim deed. What are my options?
If your ex refuses to sign a quitclaim deed, your other option is filing a court action for partition. It is a generally a short process but it carries several risks. You should definitely consult an attorney about the pros and cons to see if it is in your best interest in your circumstances.
In order to refinance, your ex's bank will require you to release your interest in the property, but only at the closing of the refinancing. That will take place at the office of a title company when your ex signs the documents refinancing the home. You should not sign a quitclaim deed without...Read more »
My mother passed away a week ago I was named the executor of the will. Myself and my 3 siblings are the beneficiaries of the will. One of the siblings is wanting me to keep her constantly informed of everything and that everything has to be a group decision. It is impossible for me to get anything... Read more »
The answer to your question is generally found in the will itself. Most wills provide a time requirement for the personal representative to provide reports to the beneficiaries. Definitely no less than one time per year. If there is no such provision in the will, you and the attorney handling the...Read more »
My father has recorded beneficiary deeds for all of his land and houses. He has also added TOD to his vehicles. He has given all of his other assets (furniture etc.) away to someone within the family. My mother preceded him in death and they had a will together with different terms, such as the... Read more »
If your father's estate value is under $40,000, it is considered a "small estate." The procedure for distribution of assets in a small estate is governed by Mo Rev. Stat. Section 473.097 and the statutes references in that section. If you have any questions you should consult and attorney.
Account type is a savings account. Only my daughter and my late wife are listed on the account. Daughter’s name is listed first and daughter treated as owner for interest income reporting. We are in State of MO and daughter is now 20. Bank telling her that they can’t give her any info or answer... Read more »
It will depend on how their names are listed on the account. Things as simple as “and” and “or” can make a big difference. It is worth a brief conference with an attorney to determine your daughter’s rights to the account, especially if it can avoid the necessity of filing probate.
After a tenant moves out, the landlord does not have a duty to store the tenant’s property. Landlord has to make the property available to the tenant for a “reasonable “ amount of time (maybe a few days), then the property is treated as abandoned by the tenant and can be disposed of.
The answer to your question is in the contract language. If you used the forms prepared by the Missouri Association of Realtors, the time to send the Inspection Notice and receive a response (including cancellation) is contained in paragraph 7D. If you are unsure, have a lawyer look over the...Read more »
4 months before her death she transferred over half of the trust out of it. There is not near enough to pay what the will states now. Am I liable to sell items that were left specifically to others, ie, her house, car, etc, to make up that money?
Your responsibilities as trustee are very important and handling your aunt’s estate in these circumstances can lead to other issues. You really should sit down with a lawyer to review the trust documents and make sure you do it correctly.
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