Sheryl Ann Edwards’s Answers

Sheryl Ann Edwards

Sarasota Real Estate Attorney.

Contributor Level 12
  1. Do I need to probate my late husband's will if we have no debts, jointly own our house, and have joint bank accounts?

    Answered 4 months ago.

    1. Harley Herman
    2. Barry A. Stein
    3. Sheryl Ann Edwards
    4. Mark Russell Lewis
    5. David Michael Goldman
    6. ···
    6 lawyer answers

    Probate is a court process which involves collecting a decedent's assets, notifying creditors, paying liabilities, and distributing the remaining assets to heirs. Typically, property (whether that be real property or personal property - like bank accounts or personal belongings) that is owned as Joint Tenants with Rights of Survivorship is not a probate asset where the court's supervision is required to transfer assets of the decedent. In a situation where there is only jointly owned...

    3 lawyers agreed with this answer

  2. When dealing with an In Deed of Lieu process, can the government hold us responsible if the house sells short of the amount due?

    Answered 9 months ago.

    1. Brian David Zinn
    2. Sheryl Ann Edwards
    3. Jacqueline Alicia Salcines
    4. Enita Kushi
    5. Nathan D McKinney
    5 lawyer answers

    When a lender issues you a 1099-C, you do not receive a bill from the government for the tax due, if any, on the debt you have been excused from repaying. You have an obligation to report all taxable income to the IRS by filing a tax return. The information provided on the 1099-C is part of the information that must be provided to the IRS. There may be an exemption that would apply to make the amount of debt you have been excused from repaying not taxable as income. You should consult...

    3 lawyers agreed with this answer

  3. We live in the UK and have a holiday home in Davenport , Florida .

    Answered about 1 year ago.

    1. Sheryl Ann Edwards
    2. Marshall C Deason Jr.
    2 lawyer answers

    Although a thorough analysis of your financial situation will need to be made to determine if a short sale is your best option, typically a short sale is a better alternative for a borrower than a short sale.

    3 lawyers agreed with this answer

  4. When borrower dies, can bank come after another owner who is on mortgage, but not on the promissory Note?

    Answered about 1 year ago.

    1. Sheryl Ann Edwards
    2. Marshall C Deason Jr.
    3. Carol Anne Johnson
    3 lawyer answers

    Before I address your question, a quick lesson in mortgage financing is in order. The promissory note is the evidence of the debt, the so-called promise to pay the borrowed money back. In Florida, it creates a personal obligation for whomever signed the note to pay the money back. You can have a promissory note in just about any type of lending transaction - even when the debt is evidenced by something as simple as in IOU. Typically, lenders will require collateral for the repayment of...

    3 lawyers agreed with this answer

  5. Completing Deed in Lieu process- i was approved and the deficiency is being waived

    Answered about 1 year ago.

    1. Sheryl Ann Edwards
    2. Margery Ellen Golant
    3. Jacqueline Alicia Salcines
    3 lawyer answers

    The reason that your husband is being required to sign on the deed in lieu transfer documents is related to the homestead provision in the Florida Constitution. In Florida, a non-owner spouse must consent to any transfer of a homestead property. Although he may not have any interest in the property and although you may not live there anymore, the presumption is that the property is your homestead property. Thus, your spouse will need to sign the deed or you will need to inform the lender...

    3 lawyers agreed with this answer

  6. Is a non American citizen qualified for house mortgage?

    Answered over 1 year ago.

    1. Sheryl Ann Edwards
    2. Marshall C Deason Jr.
    3. Felipe Bastos Fulgencio
    3 lawyer answers

    Typically, non-resident house purchasers pay cash because it is difficult to qualify for a mortgage loan as a non-resident. If you can meet the underwriting requirements for a loan, you should be able to buy a house but you are in for a difficult road ahead of you. Good luck.

    3 lawyers agreed with this answer

  7. Real estate attorney

    Answered over 1 year ago.

    1. Marshall C Deason Jr.
    2. Robert Jason De Groot
    3. Sheryl Ann Edwards
    4. Jacqueline Alicia Salcines
    4 lawyer answers

    In order to close a short sale, you will need to obtain the consent of all lienholders. It sounds like the first lienholder, your lender, has consented to the short sale. Typically, the next thing to happen is to negotiate for short sale approval with the second lienholder, which often requires a copy of the approval letter issued by the first lienholder. Additionally, the approval of a short sale doesn't always mean that the lender(s) will take the net proceeds from the sale and waive the...

    3 lawyers agreed with this answer

  8. Does a lender have to serve all parties concerned with property going into foreclosure ?My name is on deed .

    Answered over 1 year ago.

    1. Sheryl Ann Edwards
    2. Barbara Billiot Stage
    3. Onochie Onwuemene
    3 lawyer answers

    If you are on the deed to the property, you would be an indispensable party to a foreclosure action and would need to be served with a copy of the summons and complaint.

    3 lawyers agreed with this answer

  9. When les pendes is filed does it have to be filed under both borrowers names

    Answered about 2 years ago.

    1. Sheryl Ann Edwards
    1 lawyer answer

    A lis pendens is simply a notice recorded in the Clerk's official property records giving the general public notice that a lawsuit regarding a particular property has been filed. When a foreclosure action is filed, the paperwork is in the Clerk's civil court records and would otherwise not be shown in the official property records if a lis pendens was also not recorded. In your case, the owner of the loan probably named your husband by name and named you as an "unknown spouse." However,...

    3 lawyers agreed with this answer

  10. What is the law regarding 30 day notice of default on a mortgage. Must 30 days be given prior to filing a foreclosure?

    Answered over 2 years ago.

    1. Sheryl Ann Edwards
    2. Robert Jason De Groot
    2 lawyer answers

    There is no law regarding the timing of a default notice prior to a lender's filing of an action for foreclosure. However, most residential mortgages contain a provision that requires the lender to give you 30 days to cure your default. The notice must also state the amount you must pay in order to cure the default. In most residential mortgages, the notice requirement is stated in paragraph 22.

    3 lawyers agreed with this answer

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