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court?
answered on Nov 6, 2024
Your question is unclear.
The BANK is in default after a circuit court action of some kind? Who sued whom and for what?
Is the case pending, or has it been dismissed or a default judgment been issued? What does the default say about the status of the property?
There are... View More 
answered on Sep 12, 2024
A promissory note is a promise to pay a specific amount of money in a given time usually with interest rate and payment schedule spelled out. It is usually secured by a mortgage or similar ‘security agreement’.
This has nothing to do with life leases which is a way to transfer a... View More
My name is still located on the loan and mortgage statement as the primary, but the house has been quit claim deeded to my LLC, sole member.
I'm also listed as additionally insured on the rental dwelling insurance. My main reason for transferring was to separate my personal assets... View More
answered on Aug 28, 2024
it sounds like you have taken a step towards limiting your liability for the operation of the rental property. There remains the possibility that you could be personally liable for accidents or other events associated with the rental property. This is one reason to have insurance.
Another... View More
I purchased my home 17 months ago. Nowhere in the sellers disclosure did it talk about any major issues with the home whatsoever. However I've now come to find out it has major foundation issues that need to be repaired or it will continue to sink into the ground. I had a contractor come out... View More
answered on Aug 21, 2024
The best use of what money you have now would be to fix the foundation. Going after the seller could be a fools' errand if all you have to go on is the neighbor saying they talked about it. You'd need more proof than that. Also, even if you were successful, you might get a judgment... View More
My son bought my house on 3 acres. He could not finance the adjoining 20 acres. I would like to give it to him the best way for him to pay at least in taxes
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answered on Jul 21, 2024
To transfer the adjoining 20 acres to your son in the most tax-efficient way, you should consider gifting it to him. Gifting property can often be done without significant tax implications if the value of the land is within the annual gift tax exclusion limit, which is $16,000 per recipient as of... View More
One child and spouse moved in home and continued making loan payments. It is now 12 years later and he feels the house is his alone. Do the other 3 siblings have any claim on home and land?
answered on Jul 10, 2024
If there is a recorded lady bird deed, then all four of you now have ownership interest. The way to "settle" this is to file a copy of the death certificate, along with a new deed listing you all as owners. While that would settle the legal question of ownership, it doesn't sound... View More
Is this legal? Could you point me to any relevant statutes too? Is the promise enforceable (nothing written so I guess no)?
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answered on Jul 3, 2024
Owner will probably refuse to convey to you as the oral promise violates the Statute of Frauds. Hopefully you have some sort of memorandum signed by owner. Consult with a MI attorney to draft a deed and attempt to tender the money for the deed.
A Deed was recorded in 1978 joint tenancy with rights of survivorship, not tenants in common, to grandmother and her 4 children. Grandmother and 2 of the children are now deceased. Last year new QC deed to just my mother. She is now planning on selling. how is cost basis and capital gains... View More
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answered on Jun 21, 2024
This is a complex situation involving multiple transfers and deaths over a long period of time. Here's a general overview of how the cost basis and capital gains might be calculated, but I want to emphasize that your mother should consult with a tax professional or estate attorney familiar... View More
A Deed was recorded in 1978 joint tenancy with rights of survivorship, not tenants in common, to grandmother and her 4 children. Grandmother and 2 of the children are now deceased. Last year new QC deed to just my mother. She is now planning on selling. how is cost basis and capital gains... View More
answered on Jun 20, 2024
It can get complex, and it depends on whether transfer affidavits and PRE exceptions were properly completed and filed along the way. Sounds like there would be an argument that there hasn't been a uncapping event at least since 1978.
I am going back court this week they owe 39000 in back payments, taxes and late fees. The judge initially is questioning why a 90 late fee is assessed if they are more than 15 days late although it is in contract. What is a good rebuttal for this. Can I charge for my loss wages
answered on Jun 17, 2024
You generally cannot charge for wage loss due to court attendance. As to the fee issue: just because it's in the contract does not mean the judge may find it appropriate. As a general proposition, late fees must be reasonable, considering your costs / damages for late payment. They are not to... View More
I purchased a mobile home in 2018, park manager wanted the title before I put it in my name and never gave it back. Now the new park manager is saying it isn't in my file nor do they have a copy of it.
All my efforts to reach the previous owner to have the get a lost title have been... View More
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answered on Jun 10, 2024
The responsibility for obtaining and maintaining the title of your mobile home typically falls on the owner, not the mobile home park. Since you purchased the mobile home in 2018, the title should have been transferred to your name at that time. The park manager requesting the title before... View More
I am 1 of 3 remainders on a ladybird deed in michigan. My grandmother ( the grantor ) passed away in 2016. I currently live in the house along with 1 of the other remainderman. My fiance and I are currently in the market for our own home. Once I move, I no longer want any type of responsibility to... View More
answered on Jun 10, 2024
If the grantor has passed, there should now be deeds filed effectuating new ownership. You could elect not to be on that deed, and therefore you would have no ownership interest or responsibility. Regardless of what you agree with with the other remaindermen, all of you should work toward... View More
I am 1 of 3 remainders on a ladybird deed in michigan. My grandmother ( the grantor ) passed away in 2016. I currently live in the house along with 1 of the other remainderman. My fiance and I are currently in the market for our own home. Once I move, I no longer want any type of responsibility to... View More
answered on Jun 10, 2024
You transfer your property interest to someone else, usually one or all of the other co-tenants since they are the ones who will get the most value from that. HOW you do that depends on what you would like to get out of the deal. The best response is to contact a local lawyer to discuss your... View More
Claim by my grandmother who has since passed. He’s is ill and I’m trying to figure out how I can sell the home without paying taxes on it since she paid $45000. 50 years ago but has since refinanced and owes $120000. The selling price would be between $300000 and $350000. Im located in Michigan... View More
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answered on Jun 6, 2024
Without reviewing the deeds, which would be necessary to give a definitive answer, assuming your grandfather was added to the deed as a joint-tenant-with-right-of survivorship, he received a half step-up in income tax (capital gain) basis when your grandmother died. Since then, it's likely the... View More
Claim by my grandmother who has since passed. He’s is ill and I’m trying to figure out how I can sell the home without paying taxes on it since she paid $45000. 50 years ago but has since refinanced and owes $120000. The selling price would be between $300000 and $350000. Im located in Michigan... View More
answered on May 30, 2024
There will be an ‘offset’ for ant mortgage, but if you’re asking about the capital gains the answer is ‘welcome to the downside of quit claim deeds. You have acquired the basis for tax purposes of the original owner and will need to pay capital gains.
Absent some other facts you... View More
What rights do I have?
Thank you
answered on May 25, 2024
That depends on what sort of 'claim' you have.
Judgments are good for 10 years unless renewed, and there is the '40 year marketable title' act to deal with.
Your rights depend on a lot of things that aren't discernible from this question, and would require... View More
I own property with a 66ft easement by necessity. My neighbor keeps cutting the grass on the easement after I cut it. I like to maintain 4 inches and he keeps cutting it down to 2 to match his side of the easement. Is he allowed to cut the grass in the easement? He also blows all the grass... View More
answered on May 17, 2024
Is the easement ON your property or FOR your property?
Is the easement ON the neighbor’s property or FOR it?
From the wording I’m assuming you BOTH have a right to use and maintain the property in question.
It doesn’t really matter though because if the easement is... View More
I've put over 400K into property to develop it and build a huge pole barn, paid numerous mortgage payments as well as put another 10k cash on principle. Since i haven't been able to get on the property and having excuses time and time again I'm leaving but would like to know if i... View More
answered on May 14, 2024
Is your name on the deed? If not, and since you are not married, you may be out-of-luck. If your name is on the deed, then you would have the right to force a sale, which may likely result in the other person writing a check for you for your portion of the proceeds.
This may be harsh, but... View More
I've put over 400K into property to develop it and build a huge pole barn, paid numerous mortgage payments as well as put another 10k cash on principle. Since i haven't been able to get on the property and having excuses time and time again I'm leaving but would like to know if i... View More
answered on May 14, 2024
In GENERAL a verbal contract is worth the paper it is written on.
In the case of real estate however, there is an actual rule called the "statute of frauds" that says 'if it isn't in writing it is not enforceable. So -- your assumption was it was 'joint'... View More
I am writing to inquire about a situation concerning the property at [address], which I co-own with my ex-fiance. I am seeking clarity on the legal implications and potential outcomes in our current circumstances.
To provide some context, when we purchased the property, my ex-fiance's... View More
answered on May 14, 2024
Your changed relationship status has no bearing on property ownership and what actions may be taken. Your ex-fiance may petition a court for sale of the house; she may need to do so at some point to qualify for a future mortgage of her own. She could also show back up at your door with a U-Haul... View More
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