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Lisa Catherine Roberts

Lisa Roberts’s Answers

2 total

  • Not sure if I need LLC, Real Estate, Trust Lawyer, or all 3

    Thanks for reviewing my question. Our intent is to hire, but answers will be really helpful in making that decision. We own a single family rental in CO (we live in CA), lot zoned for a duplex. We hope to partner with a CO developer....

    Lisa’s Answer

    Many transactional Attorneys will have experience in all of these areas. You should not need to hire separate Attorneys. Unlike Physicians, Attorneys do not have a licensed "specialty" and many cover several practice areas for exactly this reason, many legal problems do not fit neatly in one category.

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  • Whats the best way to transfer ownership of a home from father to daughter?

    I currently live in & rent my fathers investment property(single family home)...What are our options for the best route to take in transferring the ownership of the home to me? He owes a balance on the mortgage and its listed as an investment prop...

    Lisa’s Answer

    Your father will need to pay off his mortgage in full, unless you can assume the mortgage. The lender would need to approve that.

    Another more traditional option would be if he sells you the property and you take out a mortgage to pay him, the proceeds of which he could use to pay off the mortgage.

    He will need to consult with an accountant to be sure that selling or transferring the investment property is in the best interest for his business.

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