Thinking of buying a vacation rental home? Does it make financial sense for your family to use the home, or to use it as an investment? Q: I am trying to figure out if the numbers would make sense for …
Ilyce Glink Show on WSB Radio: Where are the best vacation spots in America, and how does this compare to the regular home market? On this week’s Ilyce Glink Show on WSB radio, Ilyce discussed where the best vacation spots …
Deed-in-lieu or ForeclosureForeclosure is the legal action taken to extinguish a home owner’s right and interestInterest is money charged for the use of borrowed funds. Usually expressed as an interestInterest is money charged for the use of borrowed funds. Usually expressed as an interest rate, it is the percentage of the total loan charged annually for the use of the funds. rate, it is the percentage of the total loanA Loan is an amount of money that is lent to a borrower, who agrees to repay it plus interest. charged …
Limited options available to get out of a timeshare contract. Timeshare owners have limited options for getting out of timeshare contracts. Work with timeshare management company to get out of timeshare contract. Timeshare owners trying to get out of timeshare contract have limited options and are still responsible for maintenance and homeowners assoctiation payments for timeshare. Contact a real estateReal Estate is land and anything permanently attached to it, such as buildings and improvements. agentAn Agent is an individual who acts on behalf of a consumer. A real estate agent represents a buyer or a seller in the purchase or sale of a home. Licensed by the state, a real estate agent must work for a broker or a brokerage firm. An insurance agent helps a consumer purchase an insurance policy. Insurance agents are also licensed by the state.A Real Estate Agent is an individual licensed by the state, who acts on behalf of the seller or buyer. For his or her services, the agent receives a commission, which is usually expressed as a percentage of the sales price of a home and is split with his or her real estate firm. A real estate agent must either be a real estate broker or work for one. specializing in timeshares to help get out of timeshare contract.
Buy land to avoid a property encroachment lawsuit. To avoid property encroachment buy the disputed land. Obtain an easement on your vacation property or buy land if a property is in danger of encroachment. Solve zoningZoning is the right of the local municipal government to decide how different areas of the municipality will be used. Zoning ordinances are the laws that govern the use of the land. issues with an easement or buy the disputed land to avoid property encroachment. A vacation property in danger of encroachment can avoid a lawsuit with an easement or the purchase of the disputed land. Encroachment on a neighbor’s property? Buy the land from your neighbor to avoid property encroachment or obtain an easement to avoid the property encroachment.
Don’t use a quite claim deed to avoid gift tax on an inherited vacation property. If you’ve inherited a vacation property you don’t need to use a quit claim deedA Quit Claim Deed is a deed that operates to release any interestInterest is money charged for the use of borrowed funds. Usually expressed as an interest rate, it is the percentage of the total loan charged annually for the use of the funds. in a property that a person may have, without a representation that he or she actually has a right in that property. For example, Sally may use a quit claim deed to grant Bill her interest in the White House, in Washington, DC, although she may not actually own, or have any rights to, that particular house. to avoid gift tax on the inherited property. Using a quit claim deed to avoid gift tax is not appropriate on an inherited vacation property. A quit claim deed will not help you avoid gift tax on a vacation property. An inherited vacation property that is a gift does not need a quit claim deed to avoid gift tax.
Countrywide loanA Loan is an amount of money that is lent to a borrower, who agrees to repay it plus interestInterest is money charged for the use of borrowed funds. Usually expressed as an interest rate, it is the percentage of the total loan charged annually for the use of the funds.. fraud led to bank seizure for unsuspecting homeowner. Her loan was deemed fraudulent and the homeowner discovered a bank seizure on her rental home. The property is not in foreclosureForeclosure is the legal action taken to extinguish a home owner's right and interest in a property, so that the property can be sold in a foreclosure sale to satisfy a debt. but the owner was in the process of selling her rental home in a short sale. Her best option may be to file lawsuit against the lenderA Lender is a person, company, corporation, or entity that lends money for the purchase of real estate.. Contacting a real estateReal Estate is land and anything permanently attached to it, such as buildings and improvements. attorneyA Real Estate Attorney is an attorney who specializes in the purchase and sale of real estate. is the next step.
When vacationing this summer, consider alternates to crowded Disney World, Las Vegas, and DC. Instead, you may be interested in some of the more laid-back vacations such as Colorado Springs or Jamestown, Virginia. These may offer a more relaxing break and, in some cases, a more historical one.
When giving real estateReal Estate is land and anything permanently attached to it, such as buildings and improvements. as a gift, it is always good to know the IRS tax laws that come with it. If everything isn’t declared properly, it could lead to tax ramifications down the line. If this happens, the gift could be far more trouble than it’s worth.