2 rental properties in Utah in which I am the sole owner, I reside in WA. I formulated an LLC in Utah but never used it \. Would like to reuse that LLC but the address is under a former business partners address that lived in Utah. I am now sole owner of LLC. I already have a seperate bank... Read more »
Best practice is to set up an LLC where the real estate is located. We can update addresses and registered agents as well as ownership information in order to bring your business information current.
If you don't have the LLC in the same state as your real estate you will often have... Read more »
My lease ends this month and the apartment complex says that I need to give them 60 days notice that I'm moving out. I've never heard of needing to this. If I have to comply I'll be paying a ton more for a month to month contract which I don't want to do.
The answer lies in your rental agreement. Does it require 60 days notice?
At time of death it was valued at $270,800. Selling at 373k. It’s the only asset. Do we pay capital gains tax? What rate? Or does each descendant get a 1099 and pay their own taxes?
This is a better question for your accountant, but normally the estate will issue a K1 to each beneficiary that received cash distributions from the sale of the house that year. The house appreciation from the date of death will be attributable to the beneficiaries to whom it was distributed to at... Read more »
My wife and I are elderly and bought a house with a mother in law apartment 3 years ago (only our names are on the title and mortgage) but share expenses--mortgage, utilities, repairs and upgrades with our son and his family. He recently has tried to install a hot tub without our permission. When... Read more »
Normally your signed agreement between the parties will answer these questions. I highly recommend, whether you have an agreement or not, to sit down for a few minutes with an attorney to discuss your options. Most attorneys will do this first appointment for free to see whether they will be able... Read more »
2 mortgage payments be entitled to half the home if it is sold?
Step one is to communicate with this person regarding what they expect to receive in a sale of the home. Any value gained since the purchase, will be funds in question. (A court may find that the increase in value must be divided, you won't know until you receive a final judgment from the... Read more »
If something were to happen to him, could she possibly get half or anything? They haven’t been together for many years. Him and I have two kids together
The answer depends on what you have listed on the deed. If the deed says two people own the house "as Joint Tenants" this means that when one dies, the other will own the full house. If the deed only lists both of your names, then when one dies, their half of the house will be a part of... Read more »
Yes
It depends upon the provision in question. Many portions of the nonprofit act provide, “unless the governing documents provided otherwise…”
We provided written request to end the lease early and it was approved. We received a confirmation text from the property management company of new end date and a move out email with the new date.
One week following the confirmation from the PM co., we received an email from the landlord... Read more »
As I have not reviewed your lease or the text and email from the landlord's management company, I can't tell you how likely you are to win if you were to fight this out in court. The theory you suggest is valid and may be true. Your relationship with the landlord is based on your lease... Read more »
Quick claimed 3.25 million dollars worth of property into my name and once she passed the her daughters my mom and aunt foraged another quick claim deed into there names and sold the properties and I need help to bring them to justice and get whatever I can out of it.
This issue is a Probate/Real Estate issue. And it is called a Quit Claim Deed.
Ditech bought my loan. They were given all of my escrow in early September that was due in November. I didn’t know Ditech never paid my taxes or insurance until I received a notic that my house was going to be auctioned off. I had to prove to Ditech that it was their responsibility to pay it.... Read more »
Sue Ditech.
They want me to be moved out by the end of May it's not an addiction it's just a non-renewal do I have rights in anyting that can buy me more time or at least until June 30th. It's already extremely difficult to find a place and everything going on with the pandemic as it is. Also... Read more »
Based on rights, you have a right to stay as long as contracted, and Landlord is has the right to do business with whomever he pleases. If he accepts payment for a new month, he must let you stay for that new month. Some landlords will change their plans if you give them an extra month's rent... Read more »
Title is legal ownership of a piece of real estate. Unless he was placed on title in error, or through fraud, your boyfriend currently owns a portion of the real estate. The only way to remove him in that case would be to get his signature on a deed releasing his interest to you, or if he refuses,... Read more »
There is no limit to the number of homes you can rent and buy at the same time. One important thing to remember is that many home loan agreements require you to personally live in the home you get the loan on for a specific period of time. Some as much as a year or more.
Other complaints against us since my wife upset him have been universal throughout the park, Bikes near but not in garage, etc. We lived here for 2 years largely left alone, I believe this is antagonistic retaliation.
I am sorry to hear that things aren't going well with your landlord. Your relationship is legally defined by state law and the contract. If the contract says you must paint, or if you are being required to do anything else that is in the contract, you normally will have to do it or you will be... Read more »
We are being sued buy the buyers of our home for an HOA assessment that took place 5 or 6 months after the sell of the home. We knew there were issues with the moisture barrier of some of the homes in the neighborhood but our home had no such issues (this was disclosed). Apparently the HOA sent out... Read more »
Whether or not you are liable is a judgment call. A judge might determine that since the email was issued by the HOA and it arrived in your email box, you had opportunity to review the email and warn the buyer.
OR, a judge might decide that the email had no specific meaning as you had no... Read more »
I’m trying to prove that the termination of my 12 year lease because i informed the landlord about a mold concern, was illegal because of landlord retaliation laws protecting tenants in Utah. They are now trying to sue us for a large sum of money that is exaggerated and fabricated. They have no... Read more »
There are many things that might be put in a lease but they can't be pursued in court because they are inappropriate. It would be a waste of time and energy to try to list them all here. You cannot be taught how to defend yourself in a short note like this. Having an attorney review your lease... Read more »
She won’t sign for me to refinance. I am the main person on the loan and she’s a co-signer. I don’t want her on my loan.
When you add someone to the title of your home, you have given them partial ownership. If you did not specify how much ownership on the deed, then everyone listed on the deed has an equal share. In a lawsuit started by either party, the home could be forced to be sold and the proceeds divided... Read more »
I have raw land I’m selling without the help of a real estate agent. I have not placed the land on market, the seller approached me asking to buy. We agreed on a price and want to move forward as easily as possible. I’m using a Utah REPC and plan to take the contract to a title company and have... Read more »
Earnest money invites only serious buyers to get involved in a transaction. The earnest money does not force the buyer to buy your property, so no, the earnest money is not necessary for the REPC to be effective.
I was under contract (standard UT REPC) with seller for property. I went to close on the property (prior to require closing date) and find out the seller has sold the property to someone else. I paid $2K earnest money and also hired people to inspect and consult on the land. Now, like properties... Read more »
I am sorry to hear about your situation. That is rough. Sounds like the seller made a calculation about the risk of being sued and damages and thought that selling it to another at a higher price was worth it. Unfortunately situations such as this are not uncommon, thought typically it has to do... Read more »
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