I am thinking about buying an investment property with my parents, we would both put the same amount toward the down payment. They have a will stating that everything they would leave is to be divided equally among my two sisters and myself.
The answer is simple: If you title the property as joint tenants with right of survival, if you die, the property is theirs. If they both die, it is yours.
If you do it as tenants in common, if they both die, or if you die, the share passes by will.
Let me tell you your real question. Do you want to be partners with your sisters. Let me give you a reasonable answer: If you value your relationship with them, you do not want to own real estate with them. I was in court in Carbon County two weeks ago with two sisters and a brother who own real estate together. They are fighting over the desire of two to sell and one to let the property rot until hell freezes over twice.
Now let me give your an answer: 1: You own the property as joint tenants. 2) Have your parents take two savings account or other investment of the same amount and title them as joint tenants with your sisters.
Good LuckSee question
I won a hearing at the magistrate and the defendant filed an appeal. I received a letter stating I have 20 days to file a "complaint in this appeal" or a judgement of non pros will be filed against me. I went to the proprietaries office but they...
As you might imagine, employees of the Prothonotary's office are not allowed to practice law or give legal advice. Complaints are not simple documents. You will need to hire a lawyer to write this for you.See question
At the time of the judgment, we were not even aware we were being sued. Talking to our attorney at the time, his take was to let the lien sit for five years at which time it would expire, and this would be the cheaper and smarter thing to do sinc...
Let me try to break this down. First, a judgment lien is valid for five years in most cases. There are things that extend the five year period, such as bankruptcies. Secondly, the lien may expire but the judgment does not. It may be revived, as said in the other answer within 20 years. Allegheny County judges would not be asked to reopen a judgement. The would be presented with a Writ of Revival and in most every case would allow the judgment lien to be revived. If it is revived, it can be renewed every five years or less till your great great grandchildren are dead. There may be a statute of limitations on bringing collection actions against you, but the lien will stick around.
All that said, if you refinance, the lien of the mortgage will be senior to the judgment, unless the holder files a Praecipe for Writ of Revival or a Preacipe for Writ of Execution before the mortgage is recorded. Most title companies would insure this if they could do a bringdown search immediately after recording.
I have a rent-to-own agreement with my grandmother to purchase her home. The agreement states that I pay her $500 per month for 5 years. Each payment goes toward the purchase price of $30,000. It states in the document that we will transfer the...
Here is how I would do this depending on the following assumption: 1) you have a rent to own agreement (we call this an installment sale agreement), 2) you are eligible for a deed transfer, and 3) you still owe her money.
Step 1: get a title search on the property. Step 2: Make sure you have a good copy of the installment sale agreement, if it is an oral agreement, get it in writing and make sure the payments you have made match up with the agreement. Step 3) have grandmother execute a deed setting forth the purchase price of $30, 000, which you record. Step 4) you execute a note and mortgage addressing the balance due to your grandmother. The mortgage is recorded. This is a basic process that can be done rather quickly. I know my title searcher takes about 10 days. While the search is being done, you can get all the other things executed and ready for recording.See question
No eviction lawsuit was filed against me so I moved out before the same day eviction could go into effect
There is no such thing as same day eviction. A LL cannot evict with out filing suit and having a hearing date set.See question
I was selling my house to one of those Cash for Your Home places. The person set me some forms to sign and we are about to go to settlement to sign the deed over. I no longer wish to sell the home to him for I feel he is taking advantage of me. Ca...
Robert is right. Let me explain what will happen. They will give you some money. Then they will stop paying your mortgage. The bank will come after you. If you save the property, you save it for them. Get to a real estate lawyer Monday at 8:30 am.See question
Buyers of a home decided to file suit against the sellers for non-disclosure of problems with a property. The sellers estate is now bringing all parties involved in the transaction into the claim so that they can split their losses, if need be. ...
With a 1 year statute, that would make you a home inspector. You need to hire a lawyer. You cannot get out on Preliminary Objections, so you will need to file and Answer, take some discovery and then file for Summary Judgment.
you should turn this in to your insurance company. If you don't have insurance, you should not be inspecting.See question
There is now a 3 inch step down onto the balcony which was not there before. She cannot access the balcony now with her wheelchair. There is no room to just put a ramp since it would lead right into a wall. They say they are not responsible. What ...
This appears to be a clear ADA violation. Ask the board, in writing, to make a reasonable accommodation. If they say NO, see a lawyer.See question
Here's the scenario. Bank is trying to foreclosure on my home. I've heard that if I ask for a payoff of the loan and could produce funds for the payoff amount and that if the lender could not produce the "original" note within 60 days that then th...
You should definitely get a lawyer. If you have not been making payments, don't be surprised if nothing saves you. For a little light reading, try: http://law.justia.com/cases/pennsylvania/superior-court/2013/980-eda-2012.html This case is currently back at the Superior Court for Round II.See question