Your question cannot be answered without more information. Is there a written lease agreement? You will need to get a copy of that. Have you tried talking to the tenant about his intentions? Did the seller represent that there were no leases?
We have put offers in on multiple properties. We started to offer on the last home on a Thursday. On Monday the realtor asked that we remove a home sale contingency and wrote a new offer that was signed on Monday.. Then on Wednesday they informed me that I had to sign the document again as my... Read more »
I am sorry to hear about this situation. If your realtor is using the standard offer to purchase form (WB-11 - Residential Offer to Purchase), which is promulgated by the Wisconsin Department of Safety and Professional Services, then there is a line at the bottom the realtor should complete that...Read more »
If the creditor's lien or mortgage was recorded prior to the joint tenant's death, the property will pass subject to the lien. There is a Termination of Decedent's Interest Form you can file with the Register of Deeds to remove the joint tenant's name from the title to the...Read more »
The Trust is probably Irrevocable now. Hire a competent attorney to search the Title. As Trustee you may or may not be able to sell the land as the fiduciary. At worst, all interested Parties, Trustee and Beneficiaries, can convey as grantors unless there is a future interest estate created by...Read more »
My husband and I were given land (paperwork was signed by both parties for the ownership transfer). The prior owner is upset about something and thinks he can call the county and just take the land back. This land had been in our name for years now and is also included in the assessment of our... Read more »
If the land was legally transferred by deed, and your name is now on the title to the property, the previous owner cannot take it back unless you sign a deed granting the land back to them either by gift or by sale. The only other way I can think of for the previous owner to get the property back...Read more »
After closing on a home, the county contacted me saying the property lines for the home I just bought are incorrect. After speaking with the county, the title company contacted the county about this issue. However, the title never notified myself or the seller about this issue prior to closing.
I would carefully examine your title insurance policy on the home to see if the issue was discovered during the title search and discuss this issue with a real estate litigation attorney in your area. The title company should have run a title search before issuing the title insurance. If the issue...Read more »
The amount is intended to be a gift. Would he need to pay taxes on the amount over $15,000 or could this be claimed under the lifetime exemption? If it’s taxable, would agreeing to repay the amount upon sale of the property turn it from a gift to a loan?
Currently you can gift up to $15,000 per person per year, without filing a federal gift tax return. Therefore, your proposed gift of $40,000 from your brother would be over this amount. He could gift you $15,000 this year and $15,000 in 2021 without filing a gift tax return, or if he is married, he...Read more »
Dad had no will and I have been living there and paying taxes that come in his name in care of me. My brothers and I split everything and i got the house but never got the deed changed and now i am older and need to get it in my name.
Hello, I think you are going to need to work with a probate attorney, to get the house transferred from your Father's name to your name. If there was a probate when he died, the deed to the house should have been changed at that time. If you inherited the house via deed, there may be a way to...Read more »
If you are buying a property on a land contract, I recommend you have it prepared or reviewed by your own attorney before entering into such a contract. Often these types of contracts can favor the drafter (the person preparing the contract) so if you are considering entering such a contract it is...Read more »
There are a couple of ways you can go about this. Depending on how the title to the deed reads now, you could pass this to your husband via deed, or via your Will or Trust at death. Doing it in your estate plan (Will or Trust) may make sense, because you still have a mortgage on the property, and...Read more »
The property next to me is bordered on the east side by a public waterway on county land. They currently access their land from the west through a gravel lane on my property. The old easement recently expired and I was wondering if I have to renew it.
In general, if an easement has expired, there is nothing requiring you to grant a new easement to an adjoining landowner. The Wisconsin Supreme Court has held that Wis. Stat. 893.33(6) requires property owners to re-record their easement within 40 years of the original grant, or risk losing the...Read more »
My son was planning on buying a house but was furloughed due to COVID 19 and isn’t able to get financing. My husband and I are going to purchase the house but our son will make all of the payments. We will eventually transfer the house to him. What is the best way to purchase at this time?... Read more »
If you plan to purchase the home and put your name on the mortgage, I would strongly advise you to purchase the home in your own name. It is not a good idea to purchase property and title it in another person's name, as you will be held responsible for the mortgage if the other person quits...Read more »
and the sellers realtor would not respond nor give us a chance to counter offer. This was after the houses listing price was dropped by $25,000. We came to find out that the realtor bought the house for $2,000 more than our offer. Is this legal?
I'm thinking of putting an offer on a home, but the seller has notified my agent that they will need to rent back the property after closing for 30 days. Is there a standard rent-back form for this situation in Wisconsin or does it require the signing of a short term lease?
The Wisconsin Realtors Association has a standard form - Addendum O (Occupancy Agreement) . There are a number of variables on that form that affect your rights and risks. You should ask your agent to discuss that form with you. Please note that the form does not address insurance issues -...Read more »
We both want our children, not the surviving owner, to inherit our shares. We both (my cousin and I) live in the state of WI and the property is in MI. Does the inheritence info go into our deed or each of our wills?
The answer to this question will depend on how title to the real estate is held with your cousin. If you hold it as joint tenants, then the survivor of either of you would inherit the deceased person's interest. However, I think it is more likely that you hold it as tenants in common because...Read more »
My condo board president is also the office manager. Because of this, she really does not have anyone to hold her accountable. She makes up rules that are not in the condo docs, only enforces certain rules/regulations in the condo docs and then breaks other ones herself. She has harassed me to the... Read more »
I am sorry to hear about this difficult situation. The answer to this question will likely depend on what the Condo Board Bylaws say. I would obtain a copy of the Bylaws from a member of the Condo Board and then review them carefully to see what they say about conflicts of interest and whether the...Read more »
We were aware of the road expansion. Nothing was stated in the condition report. Prior to accepting the counter offer, we were aware no checks have been issued. We were the primary offer for the home and the 1 acre property. 4/22 we went into contract. 5/8 the signed with the Department of... Read more »
If a Seller has a primary accepted Offer then, generally, they cannot accept another Primary Offer. Generally they could accept a Secondary Offer that is "secondary" to the accepted Primary Offer. There are provisions within the standard offer to purchase forms for Wisconsin that allow...Read more »
the mail box has been in place for over a year, no livable accommodations on property,he does not live there, it is in the ROW of road, I am wrong by describing him as a neighbor, he is an estranged brother. His daughter who lives in another state owns adjacent property he does not live nearby and... Read more »
Generally the law does not afford an aggrieved party the right to self help. In other words, you may not remove the mailbox. You may go to court and ask for an order requiring the neighbor to remove the box.
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