Friday, March 17, 2017

GA real estate license law in 2017

Q: Without running water, are you able to occupy a rental property in the state of Georgia?

Attorney Solution Brian Lehman

A: The owner isn't allowed to rent it if the house is uninhabitable. Lack of running water causes it to be uninhabitable. Here is the Georgia Landlord-Tenant handbook:

Q: My father in law will sign the property title over to us do we want an attorney for this and what forms do we need

Attorney Solution Rachel Lea Hunter

A: You are in need of a real estate lawyer. There are really no forms of using a quit claim deed form that you buy at an office supply shop or legal forms spot on the web, unless you are thinking. Do not be affordable and believe because if something does not go right then you'll end up costing yourself means to get a mess cleared up, you'll save a few dollars. Go to a property lawyer and possess an effective title prepared. Deeds are not all that pricey. Nonetheless, some problems arise. While its swell your father in law would like to give property to you, there are gift tax consequences for him if the home is over $13,500 in value. In case the acreage is highly appreciated in value, there might even be a capital gains problem. Also, will he be needing Medicaid any moment in the next 5 years? You will find effects there also, if so. I think your father-in-law must take a seat using estate planning lawyer or a Medicaid and see exactly what the top way will probably be for him to transfer the piece of land to you so as to avoid other along with tax impacts.

Q&A about Texas estate laws

Q: My mother and I were willed my grandma's home. Whose passed. Can she put out, if we both are living there now?

I used to be living there when she passed. My mother and her husband moved in with me to "save for their own house ". But she's trying to put outside me.
Lawyer Response Terry Lynn Garrett

A: Both your names should show up on the Distribution Deed filed with the county clerk of the county where the property is situated in the event that you and your mother were both willed the home. Either of you can file a Motion to Partition. This can either force a sale of the house or force the other to buy out the interest of the person filing using the profits of the deal payable to you personally both. You may want to see a local probate attorney.

Q: Can I add my daughter as owner of my house in Texas with out her being on the mortgage?

Lawyer Response Ross F. Tew

A: I wonder that which you might be striving to achieve when you say you intend to add her. If that is a method to offer her the house after you have passed, you're able to do so using a title allowing an enhanced life estate on your own, or with a transfer on death deed, in a Will, typically called a ladybird title. A typical mortgage includes a provision when you title the property to someone else without paying the mortgage off, you have defaulted on the mortgage plus it can be foreclosed. Clarify exactly what you desire to carry through so they is able to help you analyze your options and you definitely need certainly to sit down with an attorney.

PA real estate contract Q&A

Q: How do you remove someone of a house deed that lived in the property in question, or has never paid for?

Her house is owned by my grandmother, but her daughter is about the title. Has been for many years, and it's still unclear as to how she ended on the deed. I would like some help on what steps we need to make to take her name off the deed.
Lawyer Solution Dr Kenneth V Zichi J.D.

A: Without seeing the paperwork it is impossible to say for sure what needs to be done here. Is this 'combined' possession? 'tenants in common'? a 'ladybird' deed? Each leads to another reply of what to do next, and it is not at all times APPARENT exactly what the form of 'having her name on it' things are without reviewing the complete deed. I had strongly urge your grandma to seek out a local real-estate attorney to review matters, and describe to her what must be performed to alter things. WORST case scenario may be her daughter has to sign off on the title. She really does need to find an area lawyer to review this out!

Legal advice real estate from Ruth Baker

Q: 2 sisters possessed property. 1 died. Filing new title is realty tax due or could it be exempt? If exempt, on what basis?

To explain more, I am wondering when filing the brand new title do a Statement of Value files with it and if so, what box do we check for claiming an exemption?
Lawyer Reply Mark Scoblionko

A: No such title is necessary in the event you are sure that the property was owned collectively, and never as tenants in common, and in case you are asking about a title to the living sister. The passage of title to the living sister as an outcome of the passing of the first sister is automatic.

Q: Does the tax basis change when you inherit a home which was in a trust?

The house is owned by the trust. My mother is the trustee and I'm to get the home upon her passing. I've a duplicate of the trust and will. Without raising the tax basis of the home could I place the title within my name?
Lawyer Solution Richard Samuel Price

A: In my opinion that you will be talking about the assessed value for property taxes. A transfer of a house from parent to child can be excluded from reassessment for property tax purposes. For the primary residence, there is an endless exclusion. For all other property, the exception is restricted to the very first $1M of value. You must file an application for the exclusion with the tax assessor within three years of the transfer. In short, that implies the property taxes should stay precisely the same.