Are there tax ramifications?
A quit claim and the appropriate transfer and tax affidavits will usually suffice but this is NOT a ‘DIY’ appropriate task. There is much at play and there will also be tax implications and the possibility of a gift tax return being required.
That snd depending on your situation... Read more »
I bought a home in May of 2018. At the time of inspection, damages to the ceiling and other concerns were labeled as cosmetic damage only. Only after we purchased did we learn from a neighbor that the home was a rental house for 30 years. It was not disclosed before hand. Now, since that time we... Read more »
Possibly, if you have more facts than what is disclosed here. The fact that it was a rental for 30 years isn't enough. Nor is the bathtub not being on proper supports. You'll need to show that the former owner knew or should have known of very specific issues.
I think you have... Read more »
With 2 people being on the quitdeed in case something happens to one of them
Drafting a deed for the purposes of estate planning is far more complicated than 'filling out a deed'. If you want to insure your heirs are involved in long and expensive litigation over the title of the property, and don't care if you cut yourself out of your house, then by all... Read more »
Their kids have defaulted on the LC and are now trying to sell the home. Can we place a lien against the home?
If I understand the question correctly, you never had any interest in the previous home you want to place a lien against. If that is true, then without a judgment against them you cannot lien the home.
You CAN get a money judgment against them and then place a 'creditor's... Read more »
Is it considered subleasing? Would I still be held reliable to pay the remaining months rent?
If the place is immediately 're-rented' likely no, you won't owe additional.
You may be liable for 'damages' but if there were no damages ....
HOWEVER, before relying on this it would be wise to have a local lawyer review your lease and all the facts to... Read more »
My offer will be contingent on a Workmans Comp settlement hearing on 1/18/22.
You are welcome to contact us at 888.789.1715. Until then, you can also visit www.ProvenResource.com for more information related to your purchase. Best of Luck,
Soble Law
my cousin had me sign A mIchigan Life deed and now keeps taking me to court to try and evecit me, he is now suing for a Quiet Title. What are my rights?
A lawyer will need to review what the recorded deed says. You should definitely look into finding an attorney.
Both houses are in the same city in Michigan. We own them as joint tenant in common with right of survivorship.
Your question has a 'fatal flaw'.
There is no such thing as 'joint tenant in common with right of survivorship'. You EITHER own as 'tenants in common' OR you have 'rights of survivorship', It can't be both. Tenants in common implies there is no... Read more »
I am the sole owner of my S. Corp.
You have asked a fairly complex question that requires the review of both a lawyer and a tax specialist (that may be one person or if you have a tax accountant it may be two).
Off hand, I'd say it depends on what the property is used for. Residential? Commercial? Rental? And what does... Read more »
does this make me liable for the loan
"Named a successor" to WHAT? Without seeing the proposed paperwork it is impossible to say what they're asking and whether or not you'll be liable for the loan. Seek local legal representation to review the ENTIRE transaction to determine whether or not it makes sense, is in... Read more »
I just found out my land contract seller never signed any contract after telling me that he did he's trying to take that position of the property because I am only a month behind and just trying to say that a repossession of property is an eviction which I found out it is not but what rights... Read more »
A contract in real estate in Michigan needs to be written. If you didn’t both sign, you don’t have a contract. You can TRY to claim otherwise but there isn’t a great chance of success.
You MAY have more success claiming the payments you DID make were accepted under false pretenses... Read more »
Seller had home for sale for $239,900. We offered $250,000, and the buyers agent claimed that they had accepted another offer but would let us know if it falls through. A few minutes later, it shows the house raised to $289,900 and doesn’t say it’s pending. How is this possible?
Until the seller accepts your offer, in writing, there is not an enforceable agreement for the sale of the property. Until there is an enforceable agreement, the seller is free to sell, not sell, or raise the price. Contract law speaks of "offer and acceptance" as being elements of an... Read more »
We appealed at least 3 times and during the last appeal, mortgage co repeatedly told me that they needed more time. Final call to mortgage co to see what was going on they told me we ran out of time because the house sold at auction on that very day. They said they sent a notice which we did not... Read more »
You have two issues: foreclosure and eviction. The foreclosure may well be a lost cause at this point. I'm unsure anyone has a right to a modification. The notice requirement is satisfied when sent by court rule or statute.
Quite frankly, the best use of your time, money, and energy at... Read more »
Part of an advertisement states that buyers have the option to use a certain title company in conjunction with proceeding with sale of real property. If the buyer of the sale chooses to use a different title company, not the one recommended, what's the process for ensuring inclusion of... Read more »
It is all based upon contracts. Write the name of the title company / agent into the purchase agreement. Sellers have the right to select the title company that they choose to close with, and so too, do buyers. So if the seller wishes to have their agent, and the buyer selects their own agent,... Read more »
Purchase agreement next to tax ID # - are those representations legally binding on Seller? Seller now refuses to provide proof those actions were done. Does Buyer have recourse?
Ate the sealing and hot water heater MENTIONED in the offer to purchase?
If not then the terms of the offer don’t imply anything. If it says ‘subject to the promises in mls#x’ then maybe. If it simply mentioned the number— that is going to be a ‘hard sell’. This is one of the... Read more »
My realtor sent the listing agent a few repairs to make and they agreed to do so. After final walkthrough the repair was not noticeable until after coming back to the property and turning on the water. There was still a leak in the plumbing that was supposed to have been fixed. Now I’m stuck with... Read more »
Initially, I suggest you write a letter to the seller and copy the agent. The letter should point out the defects and make a specific demand for reimbursement. After they ignore or reject your demand, you may then consider legal action. However, since you did not point out the defects during the... Read more »
The home is being rented out by someone that can’t find another place to live but I need to sell the home due to financial hardship. We are on the mortgage together. What are my options since the other party refuses to corporate?
That depends on how the other person and you own the property jointly — as joint tenants with rights of survivorship or as tenants in common …
You need to take your deed (the mortgage is not relevant in selling the property as it will just need to be paid off at the closing in any case)... Read more »
In the seller disclosure it says the property has had no signs of settlement, foundation or water issues. But there are clear signs of uneven floors. The inspector noted doors not closing because of it being painted too much. Realtor and contractor and inspector said the foundation looked solid... Read more »
Adding to Mr. Geers: about the only way you'll know with reasonable certainty the strengths or weaknesses of your case will be to contact an attorney directly.
An attorney will want to know how the foundation could both be solid, but also require a $1,300 support system. It at least... Read more »
that we would like to sell to an adjacent property owner. The buyer suggested quit claim deed for transfer. However, two of my sibling owners listed on the deed have passed away intestate. Both were in California. One had a husband that inherited everything, and the other was unmarried with very... Read more »
Unfortunately, two of the owners of the property are the estates of the two deceased siblings. The representatives of those estates need to sign the deed, and I believe that probate proceedings in California are required in order have an estate representative appointed, and gain approval of the... Read more »
There is no lease agreement. She had no credit so I put her name on loan so she could establish credit. She's messing up my credit by not paying on time. I want the trailer back so I can sell it to save my credit.Whats the best route to go to get her out
Whose name is on the title? That's what matters. If the mobile home's title is in your daughter's name, then there isn't much you can do. If title is in your name, then perhaps you can evict her and sell it.
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