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James Walker’s Answers

74 total


  • How do we have a real estate attorney handle the sale of our investment property (that has equity in it)?

    My wife has an investment property located in Lake Forest, California. This property is really her mother's property who initially used my wife's credit to purchase the home. The problem is that my mother-in-law is crazy. She does not want my w...

    James’s Answer

    Your facts are a bit unclear as to who really owns the property. If the property is in your m-in-l's name then she is teh only one who can sell it. It is unclear if there is any sort of a written agreement regarding how you wife gets "her" property back or controls any aspect. I think you need to put all paperwork you have together, including emails, and go see a local attorney.

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  • The trustee of my grandmothers estate in which I am a beneficiary has hired lawyers that are not being honest

    one lawyer the trustee hired gives an address as his mailing address and then says in court that it is not the right address. After the hearing we go back outside and he gives me the same address. I see on Avvo where he has a history of this and ...

    James’s Answer

    I agree with the other answers. Plus, are there other heirs affected by the "dishonesty" or who have interests similar to yours? Perhaps you all can jointly hire an attorney to assist you. Also your own attorney will help you prioritize the issues you should be dealing with and avoid your perhaps focusing attention of matters of lesser importance. this can very important in getting the judge to listen to you about important matters that materially effect the outcome relevant to you.

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  • Who gets a notice of hearing for probate of decedent estate in California , If a spouse is filing a spousal property petition ?

    I'm trying to refinance my house , since my name is not on the loan the lender won't give me any information on the loan . I had authorization to discuss the loan with the previous lender before they sold it two the new lender . The new lender ...

    James’s Answer

    perhaps you posted the wrong question about probate, as you question is about talking to lenders? Sounds like whoever is on the loan should give you a letter. If that person is deceased, you need to get a court order saying you are now in charge.

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  • Own house joint tenancy and not a spouse. mother and daughter.In CA..taxes reassessed upon death?

    House is worth$550,000 and was purchased for $40,000. The joint tenancy is only in will and not recorded

    James’s Answer

    I agree with the above, but your statement that the joint tenancy is only in the will concerns me that the will may not be carefully written and may not accomplish what is wanted. unclear if title holder already passed away?
    I suggest you see an attorney.

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  • For a swap of real property for publicly traded stock within an estate prior to distribution , how do you value the stock?

    My brother wants the land, and I want cash, but there is not enough cash - he wants to give me stock. We got an appraisal for the land, however valuing the stock seems more complex. I want to do what is usual and customary. I see two issues: 1) ...

    James’s Answer

    You need to make a deal that both feel is fair. Of course the value of the stock changes daily as does the value of the real estate, although more slowly. Unless the document specifies otherwise you two will have to decide on a date for value and then live with that decison. The suggestion to have the executor sell the stock, if both are residuary heirs, will split the tax impacts of the sale. However, all assets recived a step u in basis to FMV at death so perhaps the gain is smaller than you thin,k

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  • Can surviving spouse transfer title to CO property to Survivor's Trust and and put cash equivalent in Decedent's Trust ?

    Regarding allocation of assets after death of one spouse: The surviving spouse, W, decided to transfer title to community real property (the family home) to the Survivor's Trust. Then she put the cash equivalent of the value of H's share of the ...

    James’s Answer

    All trustees must act fairly, prudently and put the beneficiaries' interests first. If there is a dispute over this matter among the family, perhaps the only thing to do would be to get the trustee's actions approved by the court. However, if all in the family agree that what she did is appropriate, an agreement among those most interested in the trust may suffice to avoid future problems.
    Whether such an action has tax impacts would require more facts than provided here.
    I agree with the prior answer.

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  • If i own a million shares in the Iraqi stock exchange and the government adjusts the currency what do i gain?

    As I understand it, Iraq is going to adjust their currency by removing 3 zero's from the current exchange rate of 1200 to one dollar. I am wondering what happens if I own stock in an Iraqi company, say a million shares. Once the zero's are delet...

    James’s Answer

    probably nothing since if the shares are quoted in Iraqi currency, all shares will still be quoted in Iraqi currency after the adjustment. Is this a question for school?

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  • If I have a business in oklahoma, but I am buting products from a reseller in california do I have to pay sales tax for oklahoma

    If I have a business in oklahoma, but I am buying products from a wholesaler in california with a resellers license, do I have to pay taxes for oklahoma and california customers? Do california make you charge taxes and file a tax return on custome...

    James’s Answer

    Sales taxes are imposed on the buyer, not the seller. However, any seller who sells to Cal residents is required to collect the tax and remit it ( with a quarterly return) to Cal State Board of Equalization. This is a huge issue for on line retailers. Lots of discussion on line.

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  • Do i need business license to receive finder's fee for finding job for person?

    Finder's fee, Refferal Fee, Brokerage fee , commision; they are many names for this act or service. If I find unemployed a job and receive finder's fee for it will i need business license? Not Real Estate Broker but finding people a job. Will it ...

    James’s Answer

    This seems pretty speculative- is there a real question. If you ask the city or county where you live, they will certainly conclude that you are doing business and must have a business license. But arguably if you only do one such transaction and it is not where you live, that may be a one-time payment in that location. Bigger question, can you get someone to pay you?
    If you are talking about setting up a placement agency, then yes you will need to be licensed per your state's rules. I know nothing about GA law.

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  • If an amount is posted as a credit to a checking account, when can a bank debit the account for the amount previously posted?

    A tenant, who banks with Bank of America, as do I, through online banking schedules an automatic transfer on the 5th of each month, for his monthly rent to my checking account. The bank posted the automatic transfer on the 6th, and the next day m...

    James’s Answer

    yes, new financial privacy laws have made a property owner's life more difficult. But remember the bank is merely a payment agent, Consider this like the tenant's check bounced and call the tenant immediately or , if appropriate, serve a 3-day notice.

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