Questions answered by Celia R Reed

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One business requires funding through escrow. Who pays the taxes on balances sitting in escrow at the end of the year?

Celia's answer | Answered on May 16, 2013

I agree with my colleagues. If the 40k represents earnings for your company for that tax year, you pay the tax. This is a simple answer that...

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If a contract does not say it is assignable, is it?

Celia's answer | Answered on May 16, 2013

I agree with my colleague. The bottom line is that the potential customer has a contract with someone, either company A or company B. If company...

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If I put my rental property in my daughters names, can I still collect the rent and does it protect it from a divorce

Celia's answer | Answered on May 16, 2013

I agree with my colleagues. If your are transferring title to avoid a legal obligation, it will be considered a fraudulent transfer for purposes...

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Signed agreement to purchase house contingent on mortgage

Celia's answer | Answered on May 16, 2013

I agree with my colleague. If you did everything your broker told you and made all efforts to find conventional financing and where unable to do...

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I was charged for the appraisal in the amount of $500. Can I get a refund if the contract fell thru?

Celia's answer | Answered on May 16, 2013

I agree with my colleague. Generally, the appraisal is your expenses, even if the contract falls through. An appraisal cannot be reused, even if...

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The question is concerning fence law, question of ownership, my survey indicates the fence lies on the property line

Celia's answer | Answered on May 16, 2013

A disclosure statement does not create ownership, even if you sign off on it. However, as my colleague points out, this is an expensive item to...

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On my business contract I added in a sentence and want to know who it is binding for. I wrote it If we...both parties agree?

Celia's answer | Answered on May 16, 2013

The phrase is not as artfully drafted as it might have been, but it does imply an agreement to extend. Still, there is no saying how a court would...

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How long does it take IRS to deduct the state tax money from my checking account ? I mail them a personal check

Celia's answer | Answered on May 15, 2013

The IRS doesn't process state tax money, only federal tax money. In the future, you might want to send these checks by certified mail to ensure...

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Can I enforce what was agreed upon when drawing up the Dissolution of Marriage papers?

Celia's answer | Answered on May 15, 2013

If you have received pleadings indicating that you have 20 days to represent, most likely they have been filed with the court. You need to hire...

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We have a real estate purchase agreement, which ended today. Are we legally bound by this contract?

Celia's answer | Answered on May 15, 2013

No, you can walk away. Depending on the purchase contract, you may or may not be able to recover your earnest money deposit.

Celia R Reed's Answers (3397)

One business requires funding through escrow. Who pays the taxes on balances sitting in escrow at the end of the year?

If a contract does not say it is assignable, is it?

If I put my rental property in my daughters names, can I still collect the rent and does it protect it from a divorce

Signed agreement to purchase house contingent on mortgage

I was charged for the appraisal in the amount of $500. Can I get a refund if the contract fell thru?

The question is concerning fence law, question of ownership, my survey indicates the fence lies on the property line

On my business contract I added in a sentence and want to know who it is binding for. I wrote it If we...both parties agree?

How long does it take IRS to deduct the state tax money from my checking account ? I mail them a personal check

Can I enforce what was agreed upon when drawing up the Dissolution of Marriage papers?

We have a real estate purchase agreement, which ended today. Are we legally bound by this contract?