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Erica Crohn Minchella

Erica Minchella’s Answers

446 total


  • What is the law regarding a short sale to a family member?

    i was told that it is aginst the law to have a short sell to a family member.. i want to help my cousin out but the real estate guy stated that it could be mortgage fraud and i dont want to get in trouble.

    Erica’s Answer

    The issue will be whether you are paying the fair market value of the property and whether the homeowner will benefit from the short sale.

    If you want to avoid those issues - your cousin should hire a real estate broker to list and market the property and get an appraisal of the property. Your offer should be in line with any offers received. You and your cousin should disclose to the lender that you are family, if you intend to rent the property back to you cousin and any other issues that might imply that you were otherwise trying to "pull one over" on the lender. The more candid you are with the lender, the more likely they will take your offer seriously.

    This answer does not constitute legal advice and does not and is not intended to create an attorney-client relationship. The law may vary depending on the state in which you reside. It is intended only to give some direction in which to seek assistance.

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  • If one spouse is renting an apt as a 2nd home and dies, does the other inherit the lease obligations?

    The spouse who dies is not using the apt as a primary residence but just when in New York city on business. The couple resides outside of NYC but in NY state. The apartment is neither rent controlled nor stabilized and the question is more about o...

    Erica’s Answer

    If the living spouse did not sign the lease, there is no obligation to which the landlord can hold the spouse.

    This answer does not constitute legal advice and does not and is not intended to create an attorney-client relationship. The law may vary depending on the state in which you reside. It is intended only to give some direction in which to seek assistance.

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  • Can an offer to purchase real estate be withdrawn for any reason at any time before accetance despite the stated time limit.

    Example: offer with a good for time limit of 5 days is withdrawn after 2 days

    Erica’s Answer

    Yes. In order for there to be a contract, the offer has to be accepted. If it is not yet accepted and no consideration was given, the offer can be withdrawn.

    This answer does not constitute legal advice and does not and is not intended to create an attorney-client relationship. The law may vary depending on the state in which you reside. It is intended only to give some direction in which to seek assistance.

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  • My wife owns an LLC. She's purchasing a condo in SC for rental purposes. Am I responsible for a loan if my name is not on

    The loan or deed if we divorce. Also if there is equity in it am I entitled to half the value. We reside in Ohio

    Erica’s Answer

    You can only be responsible for a loan if you sign it.

    Family Law dictates you and your wife's respective rights to each other's property in the event of a split.

    This answer does not constitute legal advice and does not and is not intended to create an attorney-client relationship. The law may vary depending on the state in which you reside. It is intended only to give some direction in which to seek assistance.

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  • My nephew, who is an alcoholic, has sold 3 acres (clear) while intoxicated. Is this a legal contract, and, can it be voided?

    He sold 3 or his 4 acres, and, I know that the purchaser KNEW that my nephew was drunk..and, therefore, took advantage of him while he was not in his right state of mind. I want to know if there is anything we can do..I have his full power of atto...

    Erica’s Answer

    A contract requires a "meeting of the minds", which was probably not possible in your nephew's intoxicated state.

    Agreed that you need a real estate litigator to address this

    This answer does not constitute legal advice and does not and is not intended to create an attorney-client relationship. The law may vary depending on the state in which you reside. It is intended only to give some direction in which to seek assistance.

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  • I am trying to give deed in lieu of foreclosure on a condo. The condo assoc. is taking me to court. What can they do to me?

    This property hasn't been paid on in over 2 yrs. They haven't foreclosed and seem to be dragging their feet on excepting deed in lieu of foreclosure. the condo assoc. is taking me to court. What are the possible results of there litigation? I thou...

    Erica’s Answer

    A deed in lieu of foreclosure is only a workable solution, if there are no subordinate liens that the lender needs to foreclose out. So, for instance, if you have a second mortgage or an IRS lien, a deed in lieu would not work, as those liens would remain on title.

    Non-payment of homeowner's association dues creates just such a lien. The lender would either have to foreclose on the property to get rid of that debt, or you have to pay it. If you do pay it and give the DIL, future payments of the association become the obligation of the lender.

    This answer does not constitute legal advice and does not and is not intended to create an attorney-client relationship. The law may vary depending on the state in which you reside. It is intended only to give some direction in which to seek assistance.

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  • Real property was deeded to three siblings 10 yrs. ago. Is it possible to to sell if one is not willing?

    10 years ago a house and 12 acres was deeded free and clear to 3 siblings to be divided equally at death of parents. Parents passed 3 years ago and S1 & S2 want to sell. S3's daughter has been living in the house for a year rent free and wants to ...

    Erica’s Answer

    You would have to bring an action for "partition". The Court will then decide if the property should be sold outright or to S3. Litigation is costly and time consuming. It is always better to attempt to settle the matter amicably on your own first, as you then are sure of the result.

    This answer does not constitute legal advice and does not and is not intended to create an attorney-client relationship. The law may vary depending on the state in which you reside. It is intended only to give some direction in which to seek assistance.

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  • In a land/lease contract Owner filed a chapt 7 what are my rights as a buyer

    Have been in a contract to buy this property for 5 years. The land owner filed a chapt7 and included the property I was buying , do I have any rights here or am I screwed.

    Erica’s Answer

    A chapter 7 Debtor has the right to assume or reject an "executory" contract. An executory contract is one where there remains performance on both sides. A land contract is a classic example of an executory contract. If there is equity in the property, the Trustee has the right to make the decision as to whether to assume or reject the contract. If there is no equity, the Debtor has the ability to make that decision.

    You should hire a bankruptcy attorney to determine whether your contract will be assumed or rejected. If is assumed, you will continue to make your payments. If it is rejected, your attorney will be able to explain what ability you have with regards to the payments you have made.

    This answer does not constitute legal advice and does not and is not intended to create an attorney-client relationship. The law may vary depending on the state in which you reside. It is intended only to give some direction in which to seek assistance.

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  • We live with my Mom,she has a fairly high morgage,how do we keep the house after her death? should i be on the mortgage w/her?

    we lost our house to forcloser.(we live in MI). We want to make sure we keeep this house,but are unsure how? do we remortgage? can we put my name on the mortgae w/hers?? Confussed in MIch

    Erica’s Answer

    Look at the mortgage. Most likely it has language that says that heirs and successors are not relieved of the responsibility of paying the mortgage. As long as this language is there and you continue paying the mortgage, you should have the right to remain in the home without the threat of foreclosure.

    This answer does not constitute legal advice and does not and is not intended to create an attorney-client relationship. The law may vary depending on the state in which you reside. It is intended only to give some direction in which to seek assistance

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  • On a mortgage deed what does the term "For lein purpose only" mean?

    this statement follows a name on the deed after the owners name.

    Erica’s Answer

    The statement is to limit the purpose of the mortgage deed to creating a lien and not transferring title.

    This answer does not constitute legal advice and does not and is not intended to create an attorney-client relationship. The law may vary depending on the state in which you reside. It is intended only to give some direction in which to seek assistance

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