Questions Answered by Thomas C. Valkenet
Q: Since I owe a large sum on my house; when I die, can my adult children just 'give the keys' to the mortgage company ?
I hope my adult children would not have to pay off my house
Assuming you are the only name on the deed, the house becomes "property of the estate" upon your death. Your "just debts" must be paid out of the assets in the estate, and that includes the mortgage. Your heirs may be able to refinance the mortgage so the house is not sold to a third-party.... Read more »
Q: I am in MD state. If i break my lease am i responsible for the remaining balance of rent if a tenant is in the appartmen
If you signed the current lease, the landlord can make claim on you. You can then make claim for a portion of that amount against your former roommate. If you have vacated and the new tenant replaced you, with a new lease, then the landlord cannot make a double recovery. You may still be... Read more »
Q: Can Can You Quiet Title A Estate Estate / Property With No No mortgage / Lease.. && Not Regarding Adverse Prosession
Maryland Maryland
Yes. A quiet title action may be brought to address any dispute over interests in real property. Adverse possession is only one of many potential disputes. You may also couple many equitable claims with demands for money damages and injunctive relief, negative and affirmative.
Q: Does a seller have to complete and provide a property disclosure form for a renovated home that they did not reside in?
Yes. Of course, the seller can also disclaim knowledge of anything by stating "as-is." The question as to actual knowledge of latent defects is the most important, however.
Q: Can a primary borrower divest all interest in a property when they are not on the deed?
If you are not on the deed, then you don't have an interest in the real property. You can remain liable for the loan if you have signed the promissory note or deed of trust as a borrower/guarantor.
Q: Is there a Maryland law that indicates home sellers must cover cost to fix septic or well?
if they don't pass inspection? or are these addendum's that are put into an offer?
This is a negotiated item. The standard Board of Realtors contracts have contingencies for buyer's inspections of these items. If the inspections fail, there is a negotiation over repairs, who pays, price reduction, etc. There is a point where the buyer may elect to cancel the deal if the item is... Read more »
Q: Great grandmother's property going into lien foreclosure in 2 wks. If I pay taxes, can I sell the property.
Great grandmother died in 1985. Left property as heir property. My mother held power of attorney. My great-uncle attempted to sell the property. He couldn't b/c the heirs never paid my great-grandmother's attorney for the work he did. As such, the deed was never transferred to the heirs. Taxes are... Read more »
You can pay, but you will be deemed a volunteer, which means nobody will have to pay you back. Your course of action is through the probate proceeding to replace the old personal representative, who failed to have the prior deed recorded, or to safe guard estate property. You may, or may not be... Read more »
Q: Is it worth pursuing a buyer who defaulted on a residential sale 2 days before closing after removing all contingencies?
Our buyer unexpectedly presented us with a unilateral termination as we were preparing to close.
- we met all deadlines including original closing date
- we agreed to and completed over $5k in repairs (our agent coordinated with the contractor to pay out of proceeds)
- the... Read more »
This is a very common situation. Buyers can elect to break a contract. The question is whether there is a penalty. In your situation, you may elect recovery of the EMD or a suit for specific performance. Your contract certainly has mandatory mediation as predicate for a lawsuit for damages, but... Read more »
Q: I just became aware that my Siblings forged my name on a deed of a in 2007. I am unsure re SOL.
I had been told house was being rented. We owned the property jointly.
House in MD; I live in AZ
You must sue to have the deed declared void. Now that you have discovered the forgery, you have limited time.
Q: Myself and my brother both inherited our mothers home in 2012. I offered a buyout amount. He refused.
The offer is minus half of the mortgage, property taxes and maintenance repairs. What exactly is he financial responsibility for as half owner of the house?
Your use of the phrase "inherit" is not descriptive enough. Did the Estate grant a deed naming both of you as co-owners? Or are you referring to a Will giving you the house, but the title document was not executed and recorded?
Q: Is it a requirement for a buyer to hire a real estate broker in order to buy a real estate property in Maryland?
I was told that Maryland by law requires you to hire an agent for the acquisition of real estate. I find that hard to believe.
Not true. But an agent or lawyer can be useful.
When the unrepresented shows interest in a residential property, the selling agent will usually try to convince the buyer to use a buyer's agent in the selling agent's own office.
The other common fallacy is that you must use only... Read more »
Q: The fixes agreed upon in the inspection notice were not completed- Seller has now said he will NOT fix, what can we do
Seller and Sellers agent told us at settlement that the receipts would be sent to us a few days after settlement or left at the house, they were never sent or left. When we went back to them to get the agreed upon items fixed they both said that they will not be doing these fixes now. There were 2... Read more »
This is a very ordinary claim for breach of contract. You may sue to enforce the promise, or you may complete the work and sue for the actual cost to you of completing what was promised. The amount in controversy will determine the court where claim is brought. If the evidence is that the seller... Read more »
Q: I want to put the deed to my mortgaged home in my sons name,what is the first step/
This is not difficult, but unless the mortgage is refinanced by him, or extinguished by full payment, he will take subject to the mortgage. Also, the terms of your mortgage might restrict your ability to re-title without paying the balance.
Q: My HELOC was transferred. Does the assignment of deed of trust have to be recorded, and who bears responsibility ?
HELOC was transferred in September and new servicer has not produced an assignment of deed of trust, despite my many attempts to get a copy. Don't they have to file an assignment at the courthouse in order for the title to be clear?
Not in Maryland. But to protect the borrower, you are credited with all payments to the former holder/servicer until and unless you receive notice of the new beneficiary/note-holder.
Q: Can a settlement agent who signs a loan application also be the notary and witness on a deed of trust.
Seems to be to many roles and a conflict of interest, fraud or unethical. I read somewhere that only an attorney can prepare deeds of trusts.
Anyone can prepare a deed of trust. That is a different question. Also, almost anyone can witness a signature. But only an attorney can execute the lawyer's preparer affidavit (if the lawyer was involved).
Q: My father recently purchased a single-Family home at auction. What is the best way for me to get a loan for 60% equity?
We're trying to understand the laws and process to determine the best way for me to live in the house and pay back the Money to my father. We are trying to avoid as many taxes and fees as possible.
The answer depends on who is asking. For instance, the best thing for your father is for you to obtain a loan and to pay him the full purchase price in exchange for a deed. He then walks away and you live in the house. The best thing for you might be an option to purchase, or a rent-to-own. These... Read more »
Q: Can attorney represent trust & mortgage servicer.Does servicer respond to summons or can trustee answer both summon com
I served 2 summons complaints, one on Ocwen Loan Servicing and second on U.S Bank, NA as Trustees resident agents who were different companies who had different names and addresses. The attorney for U. S. Bank, NA as Trustee is representing both Ocwen Loan Servicing and U.S. Bank on two separate... Read more »
It is not necessarily a conflict, and if so, it can likely be waived. It is not the type of thing that you can take advantage of since you are not adversely affected. It is a common mistake to think that a lawyer's ethical obligations to others can be used to advantage by an adverse party. If there... Read more »
Q: Is there discovery in every case?
Yes, every civil case permits some discovery. The District Court limits the scope and number of written requests. And the practice of mandatory disclosures in the federal court is different than State courts. The amount and type of discovery is also dictated by your own goals in the case.
Q: My son Public defender has not contacted him after we have called. He has court Tuesday still have not heard from him.
What should we do?
Show up for court. You will talk with the PD before the court session. If things are not how you want them, you may obtain a continuance in order to retain a private lawyer.
Q: What happens if someone passes away and owned a business in partnership without a will?
My mom recently passed away. She owned a Business in partnership with one of my siblings. What happens to her portion of the business? Does it go to the sibling who is the partner? Or does it go to all of the siblings?
Maryland has extensive partnership statutes that must be considered with whatever partnership agreements exist, and terms of a will, or the intestacy statutes. The Personal Representative of her estate should consult a lawyer.
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