Father-in-law recently passed. He hadn't filed his taxes in 10 years - IRS was pursuing both MIL and FIL. I decided (I'm a CPA) to file all past due taxes as Married Filing Separately. My MIL paid delinquent taxes and is clear with the IRS....
Yo do not say whether your MIL received a release from the IRS, but assuming that she did, the lien on the house shouldn't follow her because it was placed on the house due to your FIL's tax liability.She can try to do a sale of the property. Since there is equity in the house( a rarity these days) her attorney or the title company can arrange with the IRS for a release of the property and FIL's estate in exchange for their receiving the net sale proceeds of the home. She will be released from the mortgage at the time of closing because it will be paid off out of the sale proceeds.See question
Our home loan has just been modified and the note and title are under my name only. When the house was first purchased, the special warranty deed was put under my name and my mother's. She would like to be taken off the special warranty deed. How ...
Your mother can be taken off of the deed to this property by the execution of a new deed, probably a quit claim deed to be signed by you, your mother, joined by your father, if this is or was your mother's homestead property. If it was not her homestead, appropriate language can be added to the deed and your father's joinder in the deed will not be necessary. You do not indicate whether your mother signed the promissory note when you received the mortgage and modification agreement. For purposes of this answer, I will assume that she did sign the note, mortgage and modification agreement. In such case, the transfer from her to you of her interest in the property probably violates the due on sale provision of the mortgage. However, in light of present economic conditions, it is most unlikely that the bank would call the mortgage due. If your mother signed the note and mortgage, she should be made aware of the fact that even if she is removed from title, she will still remain liable on the note and mortgage in the event of a default. You should also be aware of the fact that you will not only need to pay for the preparation and recording of the deed, but there will also be due transfer tax stamps on the new deed which will be $7.00 per thousand dollars of one half of the amount of the principal balance of the modified mortgage. The reason it is only one half is because your mother is only transferring a one half interest in the property.In any case, I would recommend that you consult with with a real estate lawyer in your area and not attempt to do this yourself.See question
if asked questions do I have to answer ?
Generally, the Trustee does not hire an appraiser to appraise the value of the property in the bankrupt's estate. I do not know the exact percentage, but it is small and usually only occurs if and when the trustee suspects that some activity is going on to try and keep assets of the bankrupt out of the hands of the Trustee in bankruptcy. The best policy is to be truthful and not give the Trustee any reason to be suspicious.See question
any one knows a good one?
I would suggest trying to look for one on Avvo. If not, try Lawyers.comSee question
Our landlord is now charging us $2000 on top of our $2395 security deposit to tile and paint the home. Is all of this our responsibility?
You are only responsible for damages which go beyond ordinary wear and tear. It would seem excessive to charge for a paint job after three years of occupancy. In order to keep any part of your security deposit, your landlord must comply with notice by certified mail as to what he is deducting from your security deposit. I suggest that you sue the Landlord in small claims court if you already have paid the landlord the extra money or if you don't believe that he even should retain any part of the security deposit , or if you have not paid him the excess,you can wait until he sues you for the excess and then you can counterclaim against him for return of your deposit. He needs to justify his charges. Let him tell it to the Judge and you will tell the Judge your side of the story and let the Judge decide. As long as you are in small claims court you will not need an attorneySee question
My father passed away in November. My parents were not married, but were together for 30 years. Florida does not recognize common law marriage. The house was in his name, and a lawyer we called said we needed to do a quitclaim, putting the house i...
You really need to seek the counsel of an attorney. It is not clear whether this was your father's homestead property or not, which would affect the outcome. If it was in his name alone, you probably need a probate in order to get the property into your name. You also do not mention whether your father left a will or died intestate (ie:without a will). The last thing you should do is execute a quitclaim deed without seeking the advice of a real estate/probate attorney.See question
We have a 2 year rental agreement and LL is telling us that in the state of Florida only a 12 month lease is legal
Provided that the lease is in writing and has been witnessed by two witnesses, it is valid and enforceable. The prohibition is against oral or verbal leases for a lease term of more than one year.See question
Defaulting on HOA/Member fees on a vacant lot in Arkansas. I own the lot but it has no value now. Title is not clean. Unable to sell it or give it away. Taxes are payed in full for one more year. Planing to defaulting on taxes to give it back to t...
It is difficult to know in advance how badly your credit will be hurt. This depends upon several factors. First of all, it will depend on whether the HOA reports delinquencies to the credit bureaus. If so, it then depends upon your age, how long a credit history you have, how much credit has been extended to you compared to your income and whether you have other derogatory accounts on your credit report. It could be 100 points or more depending on your circumstances.See question
Which statutes govern the earliest date an investor who purchases a tenant occupied property through a foreclosure sale can start collecting rent, the Certificate of Purchase or the Confirmation of Deed date?
The purchaser at a foreclosure sale does not own the property until a certificate of title has been issued by the Clerk of the Court. Only then does the purchaser become the lawful owner of the property and only then can you begin to collect the rents.See question
A house in my neighborhood that's for sale by realtor floods every time there is a heavy rain to the point of having to move out temporarily. Am I allowed to explain this to a prospective buyer if I see them looking at this house? No one who has...
If a prospective purchaser asks you about the property and specifically asks about the flooding situation, you should answer it truthfully. You should not volunteer information to anyone looking at the house or you may be liable to the current owner for tortious interference with a business relationship should the owner lose a deal because of your actions. Remember...no good deed goes unpunished.See question