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What are some LLC to LLC Real estate Recordation and Transfer Tax loopholes / exemptions in the state of Maryland?
answered on Apr 16, 2018
Generally, there is no "LLC to LLC" exemption.
However, Maryland law enumerates about 26 or so different situations exempt from transfer/recordation tax, some of which may potentially apply when an LLC is involved. Each one is heavily fact dependent. You can find these in the... View More
Deed is solely in GM’s name, GF (deceased father of C) is not listed on deed. If A passes before Deed Transfer or Change of Title with GM’s property, and B is still living; do A’s children have any legal rights to GM’s Estate if designated as A’s beneficiaries?
answered on Apr 16, 2018
Any estate attorney helping with the estate should be able to sift through the deed(s) and beneficiaries to figure out who inherits in any given estate.
If someone dies domiciled in Maryland without a will, their property goes under the laws of intestate succession. If the person who... View More
what can the three grandchildren do legally?
answered on Apr 10, 2018
A probate estate is a matter of public record, so the first place to start would be taking a look at the estate filings.
Keep in mind that some property might pass to family outside of the estate and the law does not require that people give away property equally in their Will or for... View More
This will be the first time I buy a house. I will only be spending part of my time there and the majority of my time in the neighboring state with my grandparents where my address is now. I would like to keep my address there since I will be there most, but I would like to buy my first house... View More
answered on Apr 10, 2018
Anyone can buy real estate for investment or other purposes and the law imposes no obligation to change residence just because someone buys real estate. However, a lender very well may require that a home be the borrower's principal residence to qualify for more favorable lending terms, so... View More
answered on Mar 23, 2018
It depends on how the deed is written. It may go to the surviving co-owner, or it may go through her estate to her heirs-at-law (spouse/children). An attorney can take a look at the deed and help you understand how your sister's interest passes.
I inquired with her because I heard she was behind on the taxes and now she is stating she knows nothing about it first I want to know what my liability is and where do I find out if my name is actually on the house.my dad has since passed and he told me she could live there til her demise or she... View More
answered on Mar 19, 2018
Deeds are a matter of public record, and any attorney should be able to pull this up in Land Records (or you could go to the Land Records office yourself to research and retrieve the deed).
There are several ways people can be "put on title," so there may or may not be an estate... View More
answered on Mar 19, 2018
As another attorney noted, property in the name of a deceased person needs to go through their estate. Legally, it belongs to their estate the moment they die. (even though it might take a few weeks, months or longer until an estate is formally opened). It generally gets more difficult and more... View More
one child and her dependents from there will. the first parent has monies coming from class action suits. dose the child that was removed have any recourse to obtain assets from the those class action suit?
answered on Mar 14, 2018
Any monies payable to a deceased person typically run through their estate. Whenever money is disbursed from an estate, it should go to the lawful heirs of the person who died, meaning the people identified in the will of the person who died (or if there is no will, to the heirs under intestate... View More
My agent sent time to send me forms to sign, but never sent the Residential Sales Contract. He mentioned that he needed my Earnest Check and pre-qualification form before he completed it. Is this normal? Should he complete the Contract and we review it before earnest money is changed hands. I... View More
answered on Mar 9, 2018
The Contract typically has a spot to write down how much the earnest money deposit will be, so an agent would reasonably need to know the amount of the deposit before you sign. That being said, there is no reason I can think of to actually cut the check before reviewing and signing a contract. An... View More
what is the process/where do I begin to have default declared and retake ownership of the property?
answered on Mar 9, 2018
You'll need to go through the foreclosure process. The rules are complex and changing, particularly for residential properties, so it is advisable to do so with experienced legal counsel.
For his grandchildren’s college tuition. Since my daughter isn’t in college, does the money he gave to living children taken off there inheritance? There are three surviving children and since Peter is dead our daughter takes Peter place in terms of the inheritance. So, now the grandfather... View More
answered on Mar 6, 2018
Generally, No. Gifts given during lifetime do not ordinarily operate to reduce inheritance unless there is specific instruction in the Will to that effect (though there might be extraordinary circumstances).
You may wish to consult with an attorney if you have specific questions or want... View More
Do I still
Pay my loan?
answered on Mar 6, 2018
The law recognizes something called an "equitable mortgage" so even if a release was filed, it may not waive the obligation to pay back the borrowed money.
Mistakes happen more often than they probably should, and lenders, especially large, institutional ones, are not always... View More
MD Code Section 9.103(d) refers to new construction.
answered on Mar 1, 2018
A Seller of an existing home ordinarily can sell the house entirely "as-is" thought they must provide either a disclosure or disclaimer listing known hidden defects (unless exempt from the disclosure/disclaimer rules).
answered on Mar 1, 2018
Property can be "bought out" by beneficiaries in one of two ways: the people who want to keep the house might pay the estate directly for the part they didn't inherit OR after the property is transferred to the heirs, they might work out a buy-out amongst themselves (in which case... View More
My father recently passed away, I am joint owner on his banking accounts and beneficiary on his life insurance. He did not own real estate or any other significant assets. He had purchased a car recently and had a loan on it. Do I need to open an estate, or can I pay off the loan on the car and... View More
answered on Feb 28, 2018
To transfer any title, an estate must be opened. However, if the only asset is an automobile worth less than $50,000 it is likely that it would qualify as a "small estate" which offers an easier, streamlined procedure with less paperwork.
2006, Maryland, mother died, left home to 2 daughters, paid in full owner, now they want to sell in 2018. Not sure how this $ will be taxed
answered on Feb 27, 2018
There are at least 5 different taxes that can come into play when someone dies and transfers property. These include inheritance tax, estate/gift tax, income taxes and transfer/recordation taxes.
In Maryland, property going to a child does not have state inheritance tax. State and... View More
My contract does not state anything on it saying what the fee would be for breaking the lease. My landlord is telling me that I would have to pay the remainder of the lease if I do break it.
answered on Feb 27, 2018
Generally there is no "right" to break a lease and the tenant does usually have to pay the remaining rent under the lease through the end of the term. However, a landlord has a duty to mitigate damages in Maryland, which means the Landlord must try to re-rent the place and credit a... View More
We have lived with my father in law 8 years before he died took care of all the bills and 4 out of the 5 signed over that we can buy them out the last brother is in jail and won't sign or corporate with us
answered on Feb 26, 2018
In many estates one heir wants to keep the house and "buy out" the remaining heirs. This is common and an experienced estate attorney should be able to advise of the practical steps to make this happen. Basically the Personal Representative has authority in most cases to sell the... View More
What needs to be included in the contract? Who can create the document? Where does it need to be filed?
answered on Feb 20, 2018
There might be two contracts involved here --- first, if any title is transferring to your husband (it isn't clear if he already owns the land or if it is in another family member's name) you might need a contract from the owner to you/your husband and second, there should be a contract... View More
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