Q: My sister and that I jointly own the home by which we both live. Can hospitals and doctors put liens on the house for bills?
She is not completely insured and has a medical issue which may become pricey. Is my equity (and hers) exposed, even if they wait until the sale of the house?
Lawyer Solution Vincent J. Bernabei
A: If suit files and have a ruling against your sister, the judgment becomes a lien on any real property possessed by your sister in the county. Normally, claims of creditors will attach just to the co-owner’s interest in the home, not to the debtor’s interest in the property. She survives you, and should you and your sister own the house with rights of survivorship, then the complete equity, minus a statutory homestead exemption, may be subject to lenders’ claims. In the event you live her, then the creditors’ claims to the real property are extinguished. If you don’t own the property then the claims of your sister’s lenders will attach to her undivided one half interest in the home. There are valid approaches to maintain advantages in the face of potential future claims, which means you should talk to a lawyer.
Q: Empty acreage was purchased by me in CO. The property is 50% sellers and 50% his dead fathers. Just how do I get the property 100% in my name?
The Colorado property was deeded to the seller’s dad and mother. His mom then used a warranty deed which states she’s the sole owner to title it to her son. The county has advice online that says the land is 50% the deceased father’s and 50% the son’s. I don’t live in Colorado along with the seller resides in Nevada. The seller simply said before his mother deeded it over to him, that the property was put right into a trust but this info isn’t recorded in the county. Any way to record this trust?
Attorney Answer Tristan Kenyon Schultz
A: You have two options. First, you are able to wait for the deceased father’s estate – this enables one to either negotiate with the newest beneficiary or create a claim for the land. The downside of the approach is the fact that Colorado permits up to 3 years for an estate to be probated (and at least 1 year for a creditor–you–to initiate probate). In the choice, you seek various strategies that are legal to gain complete possession of the property. You will require to get in touch with a real estate attorney directly in the county where the property is located to give a precise assessment of how best to carry on since there are way too many possible problems and answers.
Q: My brothers and I own a house that was my grandmothers. None of us live in the home.
Assistance that is medicaid will be most likely needed by one of my brothers, it appears him being a partial owner when he dies I am concerned about medicaid recovery may not hinder that yet. It is my understanding we own this house as “tenancy in common”. Exactly what are our options for this particular property in order to avoid potential medicaid restoration or any support from medicaid?
Lawyer Solution Dr Kenneth V Zichi J.D.
A: Should you possess as Tenants in Common, there CAN be recovery against YOUR BROTHER’S share of your home. This may cause a forced sale or other ‘problems’ for you as well as one other common owners, as the individuals who paid to your brother’s care (the taxpayers) work to regain the cash that they paid. The just ‘100% easy and positive’ means to handle this is always to buy your brother’s interest out then, and at its fair market value for him to utilize that money until it runs out to cover his own care. It is possible to try some ‘fancy’ medicaid qualifying trusts plus they MAY work, but finally, your brother using his own cash to purchase his care is the only way to ensure 100% medicaid won’t attempt to recover against his assets.
Q: If the town preparing to deem the house condemned due to the sepetic can I ask to get a continuance on a case eviction
They have 5 health violations and have not fixed them. Town is taking on those to court as well. Plus defamation of character to us. They lied saying we’re threating them and they need escorts to property. There is a whole lot of thing wrong here but I dont need to invest money only to be put out in line with the condemnation.
Attorney Response Ali Ebrahimzadeh, Esq
A: Why really would you wish to live in a house that is condemned? Additional information are required to provide a professional analysis of your dilemma. The best first step is a First Consultation having an Attorney. It’s possible for you to also read more about me, my credentials, awards, honours, testimonials, and media appearances/ publications on my law practice web site. I practice law in the next regions of law in CA, NY, MA, and DC: Education Law & Contracts, Criminal Defense, Divorce & Child Custody, and Company. This response does not constitute legal advice; make warranties, guarantees, or any predictions; or create any Attorney-Client relationship.
Q: Does a contract having a management firm survive a sell of property having a lease that is fixed?
I sold a rental property with a fixed lease that had left on the lease having a tenant in place in November. The lease and property are managed by means of a property management company. Property management switched. The tenant paid rent to the management company that was old and the management company deposited cash in my account of rent minus the management fee minus direction fee for the time of unused lease. I concur I should pay the new owner what was accidently deposited into my account. Nevertheless, I don’t agree to the amount the management business kept part. My contract together with the management company says the management business can keep the fee’s for the length of the lease. Since I sold the property, I consider the error is on the new owner since the contract broke which he bought with all the property when he changed management firms. Is that correct?
Lawyer Answer Leonard Robert Grefseng
A: When you agreed to sell to him, all this should be insured by the contract/purchase agreement you entered into with all the buyer. Get that contract out and examine it to see how things were assumed to be managed. When the property was sold “subject to” the present contracts and leases, you’re right. The purchaser will be bound by all the present contracts, such as the management contract. I suppose all this was correctly disclosed to the customer. One thing is for sure- the rent can’t be kept by you.
Q: I own a condominium in Indiana and rent out my basement. Itis a common entry. Do I need almost any renters or license ins?
I live in this condominium. I have roommates in the cellar who don’t have a written lease with me. Simply verbal.
Lawyer Answer Alexander Florian Steciuch
A: Where you live, it is going to depend. There is absolutely no statewide renter system or database. All rental units are required by some cities of their jurisdiction to be registered. For example, Bloomington requires that your property inspected should you be renting out rooms or the property to other people and be registered with all the city. Is your condo a part of a housing association or condominium association? They might have more rules governing renters which you will have to abide by should you be a part of this kind of association. As an overall guideline, it’s always a good idea to own insurance to cover harm to the property and it’s also smart of any renters to own renter’s insurance in case there is burglary, theft, fire, etc.. Finally, get your renter’s lease deal in writing. In some cases in every instance having something signed and in writing although its necessary so that you can possess an enforceable contract depending on the length of the lease is preferable over a verbal contract. It helps protect everyone and gives something to analyze should you ever have to litigate to the court.
Q: 2 sisters possessed property as JTWROS. 1 died. Filing deed that is new is realty tax due or can it be exempt? If exempt, on what basis?
To explain more, I’m wondering when filing the brand new title do a Statement of Value files to it and if so, what box do we check for claiming an exemption?
Attorney Reply Mark Scoblionko
A: No such deed is necessary, if you should be certain the property was owned collectively, and never as tenants in common, and in the event you are asking in regards to a deed to the surviving sister. The passage of title to the living sister as an effect of the passing of the first sister is automatic.
Q: Does the tax basis change when you inherit a residence that was in a trust?
The home is currently owned by the trust. My mom is the trustee and I’m to get your house upon her passing. I’ve a copy of the trust and will. Could I set the title within my name without raising the tax basis of your house?
Lawyer Answer Richard Samuel Price
A: I really believe that you’re discussing the assessed value for property taxes. A transport of a property from parent to child might be excluded from reassessment for property tax purposes. For the primary residence, there’s an exclusion that is infinite. For all other property, the exception is restricted to the first $1M of value. You have to file an application for the exclusion with the tax assessor within 3 years of the transfer. In summary, that implies that the property taxes should remain the same.