Skip to main content
Douglas Charles Michie
Avvo
Pro

Douglas Michie’s Answers

375 total


  • Real Estate question. Please see details.

    I have a complex real estate relationship being created. - I am going to be a real estate agent soon - I traveled to China and convinced multiple professionals (not in real estate) to invest with me - They want me to create a foreign-owned ...

    Douglas’s Answer

    Joint Ventures in real estate have been around for a long time. It is critical that the details be put in writing, and even more that the exit plan be agreed upon before going in.

    Pay your vendors from the LLC account - you may want a separate account for the the rehab/construction for easier tracking. It can be set up to give you checking account authority but not managing member authority - it all is based upon your agreement with your investors.

    If you perform work, make sure it is spelled out in the agreement and how you will be comoensated. Also, liability and workmen's compensation insurance should be obtained.

    See question 
  • Is there a statute of limitation on probate?

    My mother's home was sold after it went into probate and there was some money left over is now in the bank just sitting there collecting whatever interests it is and it's been 15 years. So I'm needing to know if is there a statute of limitation on...

    Douglas’s Answer

    I am surprised it hasn't escheated to the state. You should open a probate immediately.

    See question 
  • Can home owners or former owners that were foreclosed on by the former HOA president sue him, his wife or management Co?

    HOA is not incorporated, bylaws say board members must be homeowners. President found not be owner his wife is thru the use of an inter-spousal transfer agreement dated 2003 and she has not paid HOA dues in 8 years. He never removed himself from a...

    Douglas’s Answer

    It sounds like the other owners need to support you in having him removed. Will the other owners share the cost of removing this owner? If so, the law will allow you to bring action to have him removed. His wife, the owner, can be sued for the past due OHA dues by board direction.

    See question 
  • When will I get my share of my deceased moms life insurance?

    She died 5 weeks ago, my brother received his share from her life insurance, when and how do I collect mine?

    Douglas’s Answer

    If you are a listed beneficiary of the insurance company, you should contact the company to submit your claim for the proceeds.

    See question 
  • Can I create a will/living trust even when I'm only separated from my spouse, not legally separated or divorced?

    Spouse abandoned myself and children 4 years ago. At this point still not legally separated or divorced. I don't have a will/living trust presently and would like to make one. Can I reasonably make provisions for my children now in a will based on...

    Douglas’s Answer

    Anyone is free to create a trust at any time, regardless of their marital or family status.

    See question 
  • Will selling a PORTION of a house jeopardize mortgage modification?

    We have a modified mortgage. (It’s been permanently modified one year ago.) No portion of the mortgage was forgiven but the term of the loan was extended and missed payments have been added to the principal. Our house has three liens on the trust ...

    Douglas’s Answer

    David Quintana is right. Once modified, the loan is in place. The Due-on-Sale clause isd your concern. If the lender finds out an interest in the house is transferred, it could call the entire loan due.

    See question 
  • My sister is the trustee of my fathers will and she told me when I asked for funds that she spent them all. I need them NOW

    she has horses she can sell but and she mentioned she may mortgage the house. I cant wait till she gets it together.

    Douglas’s Answer

    This is one instance where I say without doubt you should get an attonrey involved. You may need to act before your ability to get your inheiritance is lost forever...

    See question 
  • If my father does not pursue his claim upon his deceased brother's estate, do I have the right to claim part of the estate?

    My father refuses to take calls from lawyers and insurance people about his 2 deceased brothers' estates and says he wants no part of them. Do I or my siblings have any rights to see if we are potential heirs ? One brother is survived by a wife, b...

    Douglas’s Answer

    Why not have your father give you an assignment of whatever interest he has or may have in each estate? As an assignee of his interest, you can then act to recover that interest.

    See question 
  • Does the court appointed administrator of an Estate have any mandated time frame to sell property?

    My Grandmother's Estate and assets have all been taken care of except 3 plots of land she bought back in the 50's. These parcels will take year's to sell if ever. The administrator will not answer any questions as to how long she will keep these p...

    Douglas’s Answer

    Another approach may be to have he deed the property to the beneficiaries collectively. The beneficiaries can then deal with the propertys, and this will allow the estate to close.

    See question 
  • I have SS disability (I'm 65), and a beneficiary on a Trust, but language says if I'm disabled I can't get my inheritance?

    I'm also the Trustee for the Trust. opps!!

    Douglas’s Answer

    This was intended as a discretionary.trust, most likely to prevent you from losing government benefits. You Should find someone else to be your Trustee.

    See question