If the house truly is in your name along with your husband, your mother-in-law's death will be of no consequence. The house will remain in your names when she passes. The unfortunate problem with that technique (lifetime gifting), however, is loss of the step up in basis at your...Read more »
My mother filed a TOD on her property after my father passed in 1990. One of my siblings passed away 10 years ago this September. The title company that filed the TOD did not put anything in it about rights of survivorship when they did the TOD for my mother. She had her Will updated after my... Read more »
Your mother prepared and filed a transfer on death (TOD) deed after your father passed in 1990. In or about 2009, your sibling (implied to be a beneficiary of TOD deed), passed away. After your sibling's passing, your mother wrote an updated "will" that was notarized.
My mom is acting as her own agent at her house closing. On the authorization to issue funds form, she was given three options: receive a check at closing, send a check later by UPS/USPS, or get the funds wired to her bank account. She chose to receive a check at closing, only to then be told that... Read more »
The normal course of a real estate transaction involving an escrow agent is for the deed and buyer’s funds to enter escrow (with all executed documents) and for the deed to be filed and for the escrow agent (title company, typically) to confirm that no documents have been filed since preliminary...Read more »
I understand that a joint tenancy postpones the selling of a home to satisfy a lien. If I am a joint tenant on my mom's home, then she dies, the home passes on to me, the house cannot be taken and sold to satisfy the lien. Then I add my son on as a joint tenant and when I die, also, the house... Read more »
It is not unusual for a mortgage and/or a promissory note to have a provision that accelerates the debt obligation upon the transfer of an interest in the property to another person. To answer your question, you would want to know the specifics of the promissory note and mortgage in question. As...Read more »
We are wanting to do a cash out refi but having trouble getting the house to appraise high enough. We are looking at alternative options for getting cash out of the house. I owe 313$ house appraised at 385$ can I sell to my husband for this amount?
In Kansas, a spouse has full legal rights to sell a piece of property to another spouse. You could also transfer the house to your spouse without value. From your question, however, it would appear that the real question is whether you could complete such a sale and your husband obtain financing...Read more »
You describe a set of circumstances in which the details (facts) will be critical to answering your question. You should consult with an attorney licensed in the state in which your mother's estate is located.
A deed making a present transfer and recorded prior to the grantor's...Read more »
There are several issues that would pertain to a "rent to own" agreement that would depend upon the terms of the actual agreement. You should consult with an attorney, sharing with her or him the documents pertaining to the agreement.
My parents sold a piece of property using a quitclaim deed and the buyer convinced them that they would receive the funds the following day. The deed was recorded by the title company and the buyers have not paid the seller any funds to date. It has been about 45 days since the deed was recorded.... Read more »
Your parents should consult with an attorney as soon as possible. There are reasons why a small claims case might not be the optimal course of litigation. There are some unanswered questions that would be better discussed in a confidential communication with an attorney.
Adverse possession is recognized as a way to become an owner of a property. The person occupying the property must do so in a hostile, actual, exclusive, open and notorious way for a continuous period of fifteen years. K.S.A. 60-503. A person with a superior interest in the property may file an...Read more »
There is not a legal requirement that an attorney be present during a closing process of purchasing a home. The challenge, however, is that realtor cannot and should not provide legal advice. Issues may arise during closing for which legal advice is needed.
My niece was orphaned by her mother and abandoned by her father. Her father is remarried with a step child. Wondering if she, as now an adult, has rights to any of his estate when he dies? Dad left her at age 7, mother died at age 16. I raised her until able to be on her own. She has fetal alcohol... Read more »
If a valid will exists, the interests of children, as heirs at law, may be superseded. If a valid will does not exist, an heir at law continues to be an heir and may have an interest in the estate, despite having been abandoned. If the father were he to marry again, the new spouse would have...Read more »
My mother has rights to land that her deceased spouse gave her upon his death. On one piece of land, there is a cell tower that she wants to sell. To complicate matters, the land that the cell tower is on has been willed by her deceased spouse to his nephew when my mother dies. Can she sell the... Read more »
If a person owns a life estate in a piece of real property, that person would not have the power to sell the real estate outright without the person with the remainder interest participating as a seller in the sale. The tower may be a fixture that, once affixed to the property, becomes a part of...Read more »
I have a house that belonged to my Mother and Father My mother has been in a nursing home for the last 10 years with advanced dementia due to Alzheimer’s. My father passed way in 2015.My brother is mentally handicapped but functional. I have DPOA on all three.
You should consult with an attorney as soon as possible. The details of the transaction leading to the sale of the house are not clear from the limited information stated in the question. An attorney-in-fact operating under the powers vested in him or her by a durable power of attorney (DPOA) has...Read more »
Generally, if Husband had a judgment debt and his Wife was not also a debtor of the same judgment, his judgment would not be enforceable against the Wife or her separate property. This also means that if she owned a home and Husband was not also a title owner, a judgment lien recorded against...Read more »
Property and now are claiming that there is no negotiations because the relocation company wants it all done. We have never heard of this, we know they require the work done on the employee home sale, never with the Inspection of the purchased property by employee. Is this valid or legal?
A typical residential real estate transaction in Kansas is structured to provide an limited time for an opportunity for an inspection to be conducted after the agreement is signed. Typically, there is also a procedure that allows the buyer to request repairs to address issues found. The seller may...Read more »
So my parents paid cash for a house for me. Instead of doing a traditional loan, if they were to deed the house to me and I cash out refinance to give them the money they wanted for the house and I can use the rest of the cash for improvements or paying off debts.
If your parents transfer the house to you, you take out a loan and pay to them a part of the fair market value of the property, the difference between the fair market value and your payment is a "gift." Your parents' gift does not create a taxable event for you. Your parents may have...Read more »
The initial sale of the house is to the county for the back taxes. There is a period of time in which the owner of the property may redeem the property. You should contact an attorney immediately to determine (a) when the sale took place; (b) the exact period of redemption you have; (c) the...Read more »
If there are assets that as of yet have not been transferred of record, the incorrect date in the Decree of Descent might create some confusion and delay in a future transfer. For real estate for which the decree of descent will appear as part of the record of title, the error might cause a delay...Read more »
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