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Vincent J. Gallo

Vincent Gallo’s Answers

809 total


  • DO I NEED A REAL ESTATE LAWYER?

    I'm buying a house, closing was suppose to be this Friday. Closing never took place because of a "clouded" title. The SELLER has a bankruptcy (chapter 13) in place that hinders the sale. The seller now states she was told she cannot sell her prope...

    Vincent’s Answer

    It appears from the facts that you presented that you should have HAD an attorney representing you right from the outset. And from the limited facts, your seller most likely cannot sell at least not without the intercession and authorization of the bankruptcy court/trustee.

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  • Can I take legal action against house buyers if they delay closing and hide truth of not getting loan till last week?

    We accepted an only offer $25,000 less than asking price and signed contract on rental property. The house went through attorney review and inspection, closing date was set then buyers had problems getting loan, we gave 3 weeks extension again. Te...

    Vincent’s Answer

    Something doesn't make sense; how could a closing date have been set if the Purchaser did not yet have a mortgage approval (or denial, for that matter)? Another point, why on Earth did you allow for your Purchasers, who did not yet have a decision from their Lender as to their mortgage application, move into your house? What has your attorney advised you as to all of this?

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  • I have a Certificate of Title for a house listing 3 sibllings. It doesn't specify joint tenancy or tenants in common.

    one of the siblings passed away and we are trying to settle the estate.

    Vincent’s Answer

    At least in New York, if the deed is silent then they own as tenants in common

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  • My wife somehow got my name of our property deed 5 years ago

    During a remortgage she told me my credit score was less than hers and to avoid a higher APR the mortgage should be in er name. I signed what I thought was just mortgage papers but one of the papers transferred the deed of the house from both our ...

    Vincent’s Answer

    At least in New York one is chargeable with reading what one signs so you would be put of luck.

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  • Can we sell a house deed transferred to us from my brother that still has a mortgage on it?

    Thanks

    Vincent’s Answer

    Yes you can, and you had better be prepared however to satisfy the mortgage payoff balance at the time you close.

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  • Do I need a property or real estate attorney?

    There is a house being built next to ours that I believe is well over the 30ft height limit for our neighborhood. Never have we been notified by the builders but I set up a meeting with the Forman last week. He said he didn't know how tall it was ...

    Vincent’s Answer

    In order to ensure yourself as being entirely knowledgable as to your rights and obligations as they relate to your neighbor, you would be best suited to engage both a registered architect and an attorney who concentrates in the field of real estate development, in order that they may, collectively, spell out for you, in detail, what your rights and obligations are as to your neighbor's conduct. This way you can address these issues conversantly and confidently.

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  • Would a quit claim deed given over to my wife protect the house from a lien being put on it from bills in my name

    My ex wife has loans in both our names and I refuse to pay a dime for any of it I do have a hold harmless clause but I am still scared that wont stop my ex from defaulting and letting it go to collections someday. . I am now remarried and have a h...

    Vincent’s Answer

    Very unlikely. In New York legal terminology this is referred to as a fraudulent conveyance and a creditor can execute as against this real estate despite your attempt to transfer it out of your name for no consideration.

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  • Is it safe to give money to a settlement agent (a lawyer) during the closing of a real estate property purchase?

    In a closing to buy a condo should money be given to the settlement agent (a lawyer)? The settlement agent is asking for the specified amount to purchase the condo during the closing (as specified in the Settlement Statement filled for the US Dep...

    Vincent’s Answer

    If you are having trepidations them irrespective of protocol have the precise am

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  • If a deed to a house has 3 owners, what needs to be done to get it in just one owner?

    when it was purchased the buyer didnt have enough credit to be approved alone, so he had to get cosigners. Now he is divorced and he wants the house in just his name. But one of cosigners was deported to mexico.

    Vincent’s Answer

    The other two owners need to voluntarily agree to execute a deed but before doing so they should be fully cognizant as to residual liability as to the mortgage, gift taxes, transfer taxes, and then some.

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  • I had filed a quit claim deed and put my sons name on it for reasons of saving the hassle with probate in the event of my death.

    Now i would like to take his name back off and the lawyer tells me i cant without him(son) signing off. Would like to know what i can do to get his name back off without him signing?

    Vincent’s Answer

    Not much. It appears that you moved just a little too fast before you thought it through.

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