Peter John Wagner’s Answers

Peter John Wagner

Huntington Real Estate Attorney.

Contributor Level 7
  1. I inherited my father's home, he gave his girlfriend a life estate. Can I take out a mortgage on the house without her consent.

    Answered 9 months ago.

    1. Peter John Wagner
    2. Edward Papa
    3. Richard J. Brickwedde
    4. Jonathan Stuart Frank
    5. Wendy Hoey Sheinberg
    5 lawyer answers

    No, you must have her consent to mortgage the property and she will be required to sign the mortgage and the truth in lending disclosures as well as some additional documents, IF the lender you are using will allow the mortgage with the life tenancy. There may be some lenders who will require the life tenant to deed "off." However, I suggest you have an attorney review the will and/or any deed he may have drawn up granting the life estate because there may be other restrictions, etc.

    9 lawyers agreed with this answer

  2. How do I put a will together.

    Answered 8 months ago.

    1. Paula Brown Sinclair
    2. Alan James Brinkmeier
    3. Peter John Wagner
    4. Paul Karl Siepmann
    5. Brian A. Raphan
    6. ···
    8 lawyer answers

    As my Avvo colleagues here have indicated, a will and/or other estate planning tools are not a do it yourself project. There are many things to consider including estate taxes, gift taxes, the competency and/or cognitive ability as well as financial stability of any beneficiaries . I strongly suggest you discuss these matters with an attorney who practices in the areas of estate planning, and if you own real estate with your current spouse or with others, you will likely want to seek the...

    5 lawyers agreed with this answer

  3. Can you quit claim deed a 3 person owned property as 50%, 25%, 25%?

    Answered 9 months ago.

    1. Jack Richard Lebowitz
    2. Peter John Wagner
    3. Yefim Rubinov
    4. Aaron Scott Hill
    4 lawyer answers

    Yes, you can but an LLC might be a better idea and apportion the shares accordingly. However, if you are to refinance the home most lenders won't lend to an LLC, and will only lend to individual owners. That's a consideration here. You should talk to an attorney who handles real estate transactions and be prepared to discuss "the end game" with the property and how you are intending to use the property (rental, occupancy, flip, etc.)

    5 lawyers agreed with this answer

  4. CAN I GET MEDICAID AS I JUST GOT APPROVED FOR SSDI, BUT I AM OVER THE POVERTY LEVEL

    Answered 8 months ago.

    1. Peter John Wagner
    2. Kelly Scott Davis
    3. Robin Nicole Goeman
    3 lawyer answers

    There are solutions to this situation. There are exemptions and allowances under Medicaid that are likely available and there are also some other options that are available to you. A knowledgeable elder law attorney will certainly be able to outline your options and probably lessen your fears. Many will prepare the application for you. Certainly worth a phone call. Enjoy thanksgiving

    4 lawyers agreed with this answer

  5. How do I remove my partner's name from a deed and what are the financial implications?

    Answered 8 months ago.

    1. Peter John Wagner
    2. Richard J. Brickwedde
    3. Robert Miller
    3 lawyer answers

    Typically that type of transfer may invoke the "due on transfer" clause of your mortgage (if the lender finds out), which could require you to pay the entire mortgage back upon acceleration from the lender. However, if you continue to pay the mortgage and you don't deed off yourself, it's unlikely that the lender will invoke the due on transfer, but they almost certainly will not allow her to be removed from liability under the note . Are there other joint debts or obligations? I would...

    4 lawyers agreed with this answer

  6. Removing mother from title and mortgage with bank of america

    Answered 8 months ago.

    1. Richard J. Chertock
    2. Peter John Wagner
    3. Thomas O. Moens
    3 lawyer answers

    Typically that type of transfer may invoke the "due on transfer" clause of your mortgage (if the lender finds out), which could require you to pay the entire mortgage back upon acceleration from the lender. However, if you are doing it for estate planning purposes and you put her into a life estate or into a trust there are some limited exemptions from the due on transfer provisions if you remain on title and remain primarily liable for the debt, and she still retains interest in the home (...

    3 lawyers agreed with this answer

  7. Purchasing a home.

    Answered 9 months ago.

    1. Peter John Wagner
    2. Edward Papa
    3. Anthony A. Ferrante
    4. Eric Edward Rothstein
    5. Yefim Rubinov
    5 lawyer answers

    Definitely "Legal" but I would suggest you run a title search and get title insurance to ensure that you will have sole legal title not subject to any existing liens, judgments, etc. and to make sure no one else can lay claim to it. I would strongly suggest you get an attorney to review the title report as well. While there may be some title companies that will insure a pure "CASH" transaction, it's more likely that they would require funds to be at least a bank/cashier's check....

    3 lawyers agreed with this answer

  8. In NYS is it allowed for the Seller's attorney to deal directly with the Buyer if the Buyer has formally waived this right?

    Answered 9 months ago.

    1. Peter John Wagner
    2. Eric Edward Rothstein
    3. Richard J. Chertock
    3 lawyer answers

    I find it strange that your lock in and mortgage are "lost" if you're not in contract by tomorrow. Never heard of a lock in expiring before you're in contract. Very rare. are you dealing with a broker or a lender? Rates are still good and if you have good credit you can get another lender quickly. The atty is protecting himself from any type of claim from you regarding undue influence or uneven bargaining position if there's an issue regarding the deal post contract. "out of the area"...

    3 lawyers agreed with this answer

  9. Medicaid Denial for Dad

    Answered 9 months ago.

    1. Mary Katherine Brown
    2. Peter John Wagner
    3. Frank Louis Buquicchio
    4. Robin Nicole Goeman
    4 lawyer answers

    Did you explain all if this in cover letter? Did you have mon sign "spousal refusal " with divorce papers? Did you include deed to other house with other woman? Medicaid nursing home or home care? Definitely get a lawyer for fair hearing.

    3 lawyers agreed with this answer

  10. Do I have any rights to a house if I am not on the deed but I am on the loan and have been making the payments all this time?

    Answered 9 months ago.

    1. Peter John Wagner
    2. Thomas O. Moens
    2 lawyer answers

    So you're the co-signer? Who applied for the mortgage loan? Do you have proof of all of your payments? Did you ever have any written or verbal arrangement with your Mother in law regarding your tenancy or the monthly payments? Who took the tax deduction on the interest payments and the tax payments?

    3 lawyers agreed with this answer