Your current state is Ohio
I received a notice saying: Liability to Landlord insurance is limited to damage to Landlord's property arising from the perils of: fire, smoke, explosion, backup or overflow of sewer, drain or sump, water damage, falling objects, riot or civil commotion.
$100K limit; coverage is per... View More
answered on Apr 5, 2024
No, unless your lease agreement obligates you to pay for such insurance, the management company cannot simply demand that you pay it. You would have to agree with your landlord that payment for such insurance is part of your obligation under your lease.
Her Company name is "ABD realty Inc" (name changed)
Is that name legal --allowed ?
answered on Apr 5, 2024
In California, the use of the word "realty" in a company name is regulated by the California Department of Real Estate (DRE). According to the DRE, the use of the word "realty" is restricted to licensed real estate brokers or corporations that have a licensed real estate broker... View More
Dad has 2 kids from his first marriage. Mom bought the home while divorced from my dad they remarried and before divorcing again she added him to the property per the lawyer request. If he passes away would my mom be able to sell the property with out any consent from his kids from first marriage... View More
answered on Apr 4, 2024
Having your parents divorced, the home becomes a community property, whereby both of your parents have an equal stake of 50% each. Upon either's death, the deceased parent's participation in the real estate will go to hir/her legal heirs. Prior to transmitting the succession rights, the... View More
I own a property 50% and an estate owns the other 50% - it is currently up for sale by a realtor but the listing agreement is about to expire and we have not yet sold the property. The executor of estate is threatening to file a Partition that would have a court appointed employee responsible for... View More
answered on Apr 4, 2024
In a partition, the court will order the sale. The method of sale can be open market, sealed bid, or auction. If the parties cannot agree on a price to sell the property, the commissioner appointed by the court will set the price. It is likely though that the court would put the property up for... View More
If we agree ti 250 k over 14 yrs. 0% interest. Now some lawyer is saying we have to be charged interest? Is this correct
answered on Apr 4, 2024
It is almost unheard of for a person to not pay interest on a mortgage. While I'm not aware of any law that requires a person to charge interest, you may run into unintended consequences if you don't. For example, tax repercussions, gift tax repercussions, estate issues, etc. depending... View More
Please explain in the simple terms haha. What’s a direct attack vs collateral attack?
answered on Apr 4, 2024
The phrase "looking over the record" in the context of a judgment being "void on its face" refers to examining all the court documents and filings in a case, including those filed after the entry of judgment, to determine if the judgment is invalid or void based on the... View More
I have to go to court over the propery
answered on Apr 4, 2024
In California, verbal agreements regarding real estate are generally not enforceable due to the Statute of Frauds. This law requires certain types of contracts, including those involving the transfer of real property, to be in writing and signed by the party to be charged (in this case, the... View More
The management must be incensed agent to exercise certain duties,With the exception of living on-sight, which in this case they can perform those duties, but they must be under the close supervision of a licensed realtor. Paraphrased but what if the general manager of a apartment operates these... View More
answered on Apr 3, 2024
Under California law, property managers who perform certain duties must be licensed real estate agents or brokers. The specific rules are outlined in California Business and Professions Code Section 10131 and 10131.01.
If a property manager is not licensed and performs duties that require a... View More
I'm in the process of buying a home from a less than friendly seller (who lives in another house elsewhere). In late Feb 2024 the two of us met to sign a contract which stated his intent to sell me the property, the price, and some other minor details. He hired the lawyer who wrote it up, we... View More
answered on Apr 3, 2024
It depends on the contract. The escrow deposit is generally forfeited to the seller if the buyer doesn't close on time or apply for a mortgage quickly enough. But, as the buyer, your next step is to schedule a new date to close by and make the date "time of the essence." This will... View More
I (a wholesaler) want to partner up with a real estate agent to help me find properties to sell to my investors (who are cash buyers). I contacted an agent who said to send over a contract between our partnership to ensure terms and agreements of work and profit. Would I use a buyer's... View More
answered on Apr 3, 2024
You fail to describe the exact nature of your business. Are you looking for the Agent to find you properties that you would contract to buy and then remarket (or, "assign contracts," as you put it) to investors? Have you signed the investors to an LLC? This might work but there are... View More
I (a wholesaler) want to partner up with a real estate agent to help me find properties to sell to my investors (who are cash buyers). I contacted an agent who said to send over a contract between our partnership to ensure terms and agreements of work and profit. Would I use a buyer's... View More
answered on Apr 3, 2024
In this situation, you should consider using a Joint Venture Agreement (JVA) or a Partnership Agreement. These contracts outline the terms and conditions of your partnership with the real estate agent, including the division of responsibilities, profits, and commissions.
Key points to... View More
I (a wholesaler) want to partner up with a real estate agent to help me find properties to sell to my investors (who are cash buyers). I contacted an agent who said to send over a contract between our partnership to ensure terms and agreements of work and profit. Would I use a buyer's... View More
answered on Apr 3, 2024
You have several choices ... from a straightforward partnership agreement [not recommended] ... to a joint venture agreement with good insurance ... or form an LLC with a carefully drafted LLC Operating Agreement. In these types of ventures "People, Money & Real Estate", the clarity... View More
do i have to move fence been told that texas law adverse procession says i do not have move it we mow and matain this 4 foot stretch
answered on Apr 2, 2024
It depends upon the nature of the fence. Under Texas law, there are two kinds of fences: “casual fences” and fences that “designedly enclose” an area. Courts have repeatedly found that maintenance of a casual fence does not create a designed enclosure, nor does it begin the running of the... View More
answered on Apr 2, 2024
Yes, under California law, a contract written in Spanish can be legally binding, even if the business is located in the United States. California Civil Code Section 1632 specifically addresses this issue:
1. The law requires that if a business negotiates a contract primarily in Spanish,... View More
Does the rent received qualify as qualified business income? And is the rental of the property considered as a pass-through business?
answered on Apr 1, 2024
The rental income from your condominium may qualify as Qualified Business Income (QBI) for federal tax purposes, and the rental property could be considered a pass-through business. However, there are some factors to consider:
1. Qualified Business Income (QBI): The rental income from your... View More
In 2018, I bought a house in Michigan through a real estate agent living in Miami. During the purchase process, my real estate agent recorded my address as Miami in all documents, even though I do not live in Miami. I am not an American citizen and do not reside in the United States.... View More
answered on Apr 1, 2024
Based on the information you provided, it appears that your real estate agent may have committed serious crimes, including fraud, identity theft, and forgery. If your allegations are true, you have the right to take legal action against the agent and potentially recover your property or receive... View More
Land would be in a opportunity zone in oregon.
Sell of land is in oregon as well.
answered on Apr 1, 2024
Investing capital gains from the sale of property into an Opportunity Zone can provide tax benefits, but it does not automatically avoid capital gains tax. Here's some information about Opportunity Zones and capital gains:
1. Opportunity Zones: These are economically distressed areas... View More
Land would be in a opportunity zone in oregon.
Sell of land is in oregon as well.
answered on Apr 4, 2024
There are ways to avoid or reduce your capital gains from the sale of land. Commonly accepted methods are transactions involving a 1031 Exchange or investing the gain in Opportunity Zones. With a 1031 Exchange, you must use a Qualified Intermediary which holds the sale proceeds of the land, and... View More
I am not the owner of a shared driveway. The driveway owner doesn't maintain it and at times it gets almost unusable, until I call and pay someone to have it graded, which is basically just a band aid to make it usable.
Also, the driveway is approx. a quarter mile long.
answered on Apr 1, 2024
In a situation involving a shared driveway where the owner is not properly maintaining it, you have a few options to address the issue:
1. Communicate with the owner: Try to have a friendly conversation with the driveway owner about the maintenance issues. Explain your concerns and see if... View More
I found all the paperwork the deed the title and the living will of the previous owners that are deceased we have made improvements to the property and they've had no problem out of us all of a sudden we got ct'd even though all the bills are in our name they told us to move out... View More
answered on Apr 1, 2024
Based on the information you've provided, it sounds like you are dealing with a complex legal situation involving property rights and occupancy after the homeowners' deaths. While I can provide some general information, it's important to note that laws can vary by jurisdiction, so... View More
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