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Your current state is Virginia
My grandmother's property was left to me in her will, and it has been probated in Pennsylvania with me as the sole heir. I'm in the process of transferring ownership to myself, and there are taxes owed on the property. My goal is to eventually sell the property, and I need guidance on... View More 
answered on May 9, 2025
First, if the Will has been probated and the property is a specific bequest to you,it is the Executor's responsibility to prepare and record the new Deed for you. If you are the Executor as well as the heir, then you can prepare and file the Deed. Since your intent is to sell the property... View More
In Florida, my mother currently pays very low property taxes on her lakehouse, which is not her primary homesteaded residence. She has a Lady Bird Deed set up to transfer the property to me upon her death. However, I am concerned that the property will be reassessed and the property taxes will... View More
answered on May 7, 2025
The Trust and the Enhanced Life Estate Deed (Ladybird Deed) if property drafted generally will not have any impact on the property taxes as the property would usually continue to be owned and controlled by your mom during her lifetime. Your current estate planning attorney should be able to address... View More
My dad passed away when I was a minor in Texas without a will, and my half-brother, whom I've never known, became the executor of the estate but did nothing. The court had ruled that the property should be sold and the money split between us, but I have not received any. Recently, I received a... View More
answered on May 6, 2025
First, you can hire an attorney to file an answer on your behalf in the delinquent tax suit. Your attorney may be able to negotiate with the taxing authorities to set up a payment plan for you to tax your delinquent taxes on the land you inherited. There are companies who will extend land loans... View More
I received an IRS letter threatening a levy on my properties, with a deadline of May 16. My house is set to be sold with a closing date on or before May 15. The letter is vague, referring to "my properties" without specific identification. My lawyer and I have not yet contacted the IRS... View More
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answered on May 1, 2025
Title searching now and a few minutes before executing this sale will be critical here. If no lien filed, then you can convey without fear of being sued by the grantee for breach of warranties. But even then the IRS may go after you then and look at the conveyance as justifying jeopardy levies... View More
How could the tax appraisal office file a lawsuit regarding property back taxes in April 2020 when the government advised citizens to stay home due to COVID-19? Despite this, the office sent the lawsuit notice to the wrong address, resulting in no notification until after the property was sold. I... View More
answered on May 1, 2025
Too much time has passed to address this situation that occurred way back in April 2020. The "COVID shutdown" back then has been lifted for some time. The Supreme Court of Texas issued numerous COVID orders temporarily addressing legal issues like tolling the statute of limitations,... View More
I have been receiving long-term disability payments since January 2018, which offset my normal income. Recently, I received a lump sum settlement offer of $53,000; however, the letter I received states that the value of my claim is $86,000. Although I haven’t yet responded, I was told I could... View More
answered on Apr 30, 2025
This is a really significant decision you're looking at, and it's smart to be thinking through both the settlement amount and the tax implications carefully before responding. Lump sum offers can be complex, and getting guidance is key.
Regarding what an appropriate counteroffer... View More
I'm transferring a property located in Baltimore County to an irrevocable trust for asset protection purposes. My quitclaim deed was returned by the Baltimore County Clerk of The Circuit Court, Land Records Division, because I need to specify the applicable exemption from state transfer taxes... View More
answered on Apr 25, 2025
Pay a real estate lawyer for an hour of his or her term to review the deed and address any proper citation to legal authority based on your situation, and have that lawyer electronically file the deed. The last thing you ever want to screw up is a deed in the land records, which will come back to... View More
I recently discovered that the size of my newly constructed house, closed in September 2022, is incorrectly listed by about 400 square feet less on the county tax appraisal document. I have not yet contacted the county tax appraisal office about this discrepancy and am unsure if it has affected my... View More
answered on Apr 23, 2025
You may be including an enclosed garage in your own calculation of square footage. I'm just making an educated guess because a standard size two-car garage is 400 sq. feet. For appraisal purposes, "living area" only includes an enclosed garage if it has been converted into a room.
If I purchased a tax lien certificate on a property in Maryland and the owner allows the home to go into foreclosure, will I be responsible for the mortgage if I decide to redeem the property? There are no other liens on the property.
answered on Apr 22, 2025
Liens have different "priority" depending on the circumstances and what you're asking is basically a question of priority. Tax liens generally have priority IF all proper procedures are followed in the tax sale foreclosure case. However, merely purchasing at tax sale in Maryland... View More
If I purchased a tax lien certificate on a property in Maryland and the owner allows the home to go into foreclosure, will I be responsible for the mortgage if I decide to redeem the property? There are no other liens on the property.
answered on Apr 25, 2025
You will not be personally liable on the mortgage, but the mortgage still has to be paid or the lender can foreclose, sell the property at auction, and the first proceeds received will be applied to your tax lien interest because it has priority over the mortgage balance due. I cannot answer as to... View More
Can my mother purchase a house in Maryland using cash for about $1 million, with the title/deed only in my name as a gift? We plan to file a gift tax return for 2025 given the amount exceeds the annual limit, but we don't anticipate actual taxes due because she'll remain under the... View More
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answered on Apr 22, 2025
You can also avoid probate using a trust, which is a better solution. Your mother should consult with an attorney about the adverse consequences to her of the outright gift method if she ever needs to go into a nursing home. You should consult an attorney regarding the adverse tax consequences to... View More
Can my mother purchase a house in Maryland using cash for about $1 million, with the title/deed only in my name as a gift? We plan to file a gift tax return for 2025 given the amount exceeds the annual limit, but we don't anticipate actual taxes due because she'll remain under the... View More
answered on Apr 22, 2025
It sounds right, but you would be well served to plan her estate at once instead of piecemeal. For example, you write of a Maryland house, but the question is posted from DC. The state estate and inheritance tax is different in those two places. And, Ms. Whitehurst is correct that a trust does this... View More
Can my mother purchase a house in Maryland using cash for about $1 million, with the title/deed only in my name as a gift? We plan to file a gift tax return for 2025 given the amount exceeds the annual limit, but we don't anticipate actual taxes due because she'll remain under the... View More
answered on Apr 22, 2025
I agree with the other two answers. Setting aside the question of qualifing for Medicaid for longterm nursing home care (assuming she would even qualify for Medicaid given her assets), from your financial standpoint it would make more sense if she purchased the house in the name of her existing... View More
Can my mother purchase a house in Maryland using cash for about $1 million, with the title/deed only in my name as a gift? We plan to file a gift tax return for 2025 given the amount exceeds the annual limit, but we don't anticipate actual taxes due because she'll remain under the... View More
answered on Apr 22, 2025
At least 2 other options would avoid probate without triggering the need for a gift tax return and without losing the stepped up basis as would happen with an outright gift purchase. One such option is to hold the property in a Revocable Living Trust, the other would be to hold through a life... View More
In California, my father recently passed away, and the house is held in a revocable trust established in 2015, with my dad and my stepmom as co-grantors. The property is held in joint tenancy, and the house goes to my stepmom according to the trust, eventually passing to my brother and me upon her... View More
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answered on Apr 12, 2025
In California, when property held in joint tenancy is transferred into a revocable trust, the joint tenancy is generally severed unless the transfer occurred during a limited window between November 13, 2003, and September 30, 2013, and specific conditions were met. Since the trust in question was... View More
My wife's mother passed away last year, and her trust includes a home near Solomons Island, Maryland, with five beneficiaries. The executor managing the estate, along with all beneficiaries, agrees to give the home to a single beneficiary. We want to ensure that this transfer happens smoothly... View More
answered on Apr 12, 2025
The post mentions both an executor, an estate and a trust. While it might be tempting to think of all of these things as the same (they all help pass property from the person who died to the beneficiaries), from a legal standpoint they are quite different. If the property is in a Trust, it will... View More
My wife's mother passed away last year, and her trust includes a home near Solomons Island, Maryland, with five beneficiaries. The executor managing the estate, along with all beneficiaries, agrees to give the home to a single beneficiary. We want to ensure that this transfer happens smoothly... View More
answered on Apr 12, 2025
Maryland’s 10% Inheritance tax only applies to non-spouses, non-lineal heirs and ancestors, and non-siblings. So, for instance, if the beneficiary receiving title to the house is a child of the deceased grantor of the trust, then there is no inheritance tax. In addition, assuming the grantor of... View More
I am a successful owner of an Amazon automation store and would like to transition to a limited partner role while someone else manages the store. I am considering forming an MMLLC and either having a manager as a partner or setting up the MMLLC to be taxed as an S corporation and hiring a manager.... View More
answered on Apr 12, 2025
Forming an LLC and then electing Subchapter S status offers advantages over forming a corporation and then electing S status, particularly in terms of flexibility, ease of formation, and potentially lower overall administrative costs. While both structures provide similar tax benefits (pass-through... View More
My parents passed away 5 years ago and owned a home in Riverside County, CA. My sister moved into the home, and I assumed they left it to her. Recently, my brother presented me with a signed and notarized document stating the home was left to me. After this, my sister moved out, and I moved in.... View More
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answered on Apr 10, 2025
There is no easy answer to your predicament. The classic solution is to obtain a new loan to pay the taxes, but you will not be able to do that without title to the property. To obtain title you will need the help of a probate attorney. You might try calling your local legal aid society to see if... View More
My parents passed away 5 years ago and owned a home in Riverside County, CA. My sister moved into the home, and I assumed they left it to her. Recently, my brother presented me with a signed and notarized document stating the home was left to me. After this, my sister moved out, and I moved in.... View More
answered on Apr 11, 2025
You need to file a petition for probate with the Riverside County Superior Court. Once you are appointed as administrator of your father's estate, you should be able to borrow money on behalf of the estate to pay the back taxes. You can also borrow as a beneficiary. Back taxes must be paid... View More
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