A beneficiary can become the Trustee if the Trust allows for such an occurrence. One would want to have a new Beneficiary of the Trust and/or a new Trustee appointed as soon as possible because you don't want the Trust to have the same Trustee and Beneficiary if it can be avoided.
She’s responsible for all costs associated with the home per the divorce decree. I have a perfect credit score and I really don’t want this to screw things up. She hasn’t paid it in 2 months. I’m really not sure how to go about this.
Short answer: Yes, it will hurt your credit. If your name is on the mortgage and it is being reported to the credit agencies, then as soon as that mortgage is reported as late that will be a ding on your credit. You can dispute your responsibility for the expenses with the agencies, but until...Read more »
as lot #2 on the subdivision. This is what is says on the deed. The address that the builder created was 3 Oakdale Lane. In case of future resale, does the deed have to be amended to reflect the actual street address.? For instance, would it be important to fill out a Confirmatory Deed Form and... Read more »
Usually, you would have the deed carry forward the description as you received it and then add at the bottom a line something like, "Address of the property being 3 Oakdale Lane, Lincoln, Massachusetts." You would also indicate the property address on the left margin of the deed. There...Read more »
Formal or Informal can depend on a few different factors. Did your father leave a Will? Did the Will allow an executor to sell real estate (if there is any) and did your father reside in Massachusetts or did he reside elsewhere? I often advise toward Formal because that eliminates the...Read more »
seller has no records of the original title 5 ever being completed on the property. Is it legal for the seller to sell the property without having any prior inspections done on the septic. I contacted the town records and they did not have any information on file. Is this an issue for Health and... Read more »
The Board of Health should be the ones keeping the records for a Title 5 inspection. It is legal for a sale without an inspection if the sale is to a family member. In Massachusetts, it is the SELLER who is responsible for the Title 5 inspection and if needed, repair costs. The Buyer would only...Read more »
This is legal especially if the zone that the house resides in already allows for multifamily use. Is the home being used as/designed for a multifamily use? Does the valuation on the home reflect a multifamily or single-family designation?
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