Rotten Neighbor Disagrees About Fence
What can you do when your rotten neighbor has not controlled his children or pets? You might think you could separate yourself from your rotten neighbor by putting up a fence. Putting up a fence could trigger a property dispute. What can you do in a fence dispute with a rotten neighbor?
ThinkGlink Radio Show for Jan 6, 2008
Today on the Ilyce Glink Show, Ilyce talked about the stock market and what the new unemployment numbers mean for a recession in 2008. She also talked about how to avoid a personal debt crisis in 2008 and gave tips on improving your finances. With property tax season approaching, she also answered…
Tax Implications In Transfer Of Property Title
Transfer of property title can have many tax implications. There is no way to simply transfer title to you without you then having a significant tax issue down the line. Tax-wise, the best choice would be for you to inherit the property.
Neighbor Disputes Vacated Right-Of-Way
The issue of vacated rights-of-way, streets and alleys can be rather complicated. In some cases, roads, streets, alleys and other types of rights-of-way were created from private land and in others they were created from public land.
The process of obtaining title to a piece of property is very much a question of local action and laws. In essence, most local governments want to make sure they get their real estate taxes paid. When a homeowner fails to pay these taxes, the local governmental body can sell off the property to…
What should you do If your neighbor has built a retaining wall that encroaches onto your property and he now wants you to provide him with an easement to cover the encroachment? Should you tear down the retaining wall instead? Or consult an attorney about setting up the easement agreement? If…
Property taxes can be calculated for the current year or in arrears. Inherited property usually owes property taxes based on the date the new owner receives the deed to the property.
Inheritance Property Conflict: Get A Real Estate Attorney
If you have been given property as an inheritance, and share it with others, hire a real estate attorney if there's a conflict. If you share the inheritance property with a family member, hiring a real estate attorney can be tricky. But if the siblings are having a conflict over the inheritance…
Homeowners Insurance: Update Occasionally To Cover Rebuilding Costs
When should you update your homeowners insurance? Ilyce encourages homeowners to regularly update insurance to make sure it covers the high cost of rebuilding property. Call your insurance company and have them reassess the property.
Easement May Allow Access To Septic Field
A homeowner has lived in a house for 12 years, only to discover that her septic lines run into her neighbor's property. This home owner probably has no recourse against the people she bought the home from, because the statue of limitations has probably run out. But the homeowner should talk to a…
Tax Hints For Selling Rental Property
Homeowners lived in a home for 2 years and then rented it out for the past two years. They want to continue renting it out, but they will sell now if that's the only way to avoid capital gains tax. The IRS website is a good place to check for the tax implications before making any real estate…
Understanding Adverse Possession
Adverse possession means you acquire property by openly using a home, claiming it as your own and paying all of the expenses, including the taxes, for a certain period of time. The time you must occupy the property ranges from 7 to 21 years, depending on the state.
Acquiring Property By Adverse Possession
A homeowner has been caring for the empty property next to his own for eight years. He is wondering if he has a claim to the property. It's possible to acquire property through adverse possession, but it requires a lot more than mowing the lawn and clearing snow.
Property Transfer: How To Avoid Tax Penalties
A home owner has just found out that she doesn't really own the property, but her father-in-law's name is on the title. He bought the property under a 1031 exchange and might face stiff tax penalties if he transfers the title to his son and wife. To defer taxes with a 1031 exchange, the owner must…
Real Estate Agents And Lockbox Use
When a real estate agent uses a lockbox on a property - is the seller receiving subpar service? Many real estate agents use lockboxes on properties so that the seller or agent does not have to be present when a home buyer wants to tour a house. But others believe agents should try harder to attend…
Adding Partner To Property Deed
To convey part of your property interest to another person, your deed must specifically state that you are conveying to a person a certain percentage ownership in the property. In some cases, the clearest way to convey title would be to convey title to yourself and to your partner and indicate that…
Refinancing Property After Divorce
If you are getting property as part of a divorce settlement, what is the best way to refinance your mortgage payment? What are your options on how to refinance the mortgage on the property you will be receiving in the divorce? You should be able to afford the new mortgage payment after refinancing.
A lot owner wants to sell the property, but a potential buyer thinks the price is too high, even after a good appraisal. If the seller is asking for less than the appraisal, he should stand his ground.
Real Estate Property Value: Finding The Original Sales Price
It can be difficult to find the original value of real estate property. Finding a copy of the original deed or other related documents can help you determine the original sales price and value of a piece of real estate. Ilyce and Sam tell you where to look if you're trying to find the original sales…
Ownership Of Property Questioned During Divorce
Even if you are married, you can own title in your own name. You can also own title in the name of a corporation, partnership, limited liability company or even in a trust. As a general rule, property that is purchased during a marriage might give the spouse rights in that property. Whether the…
Easement Agreement Determines Property Use
Even if you have an easement on a property, the property owner retains ultimate rights to the property. So if your driveway is on land with an easement, but you don't own the property, it may be a problem. While you may be able to come to an agreement with a current neighbor, that could change with…
Wait To Transfer Property Through Inheritance
It is probably better to transfer property through inheritance, rather than gifting or quit claiming the property. With inheritance, the property will be transferred at the market value of the day of the land, and both parties will avoid a big tax bill.
Assuming A Mortgage Under Foreclosure
Should you use a website service to find property listings to assume the mortgage. There is a difference between assuming a mortgage, and buying a house "subject to" the existing mortgage. Lenders' activity is changing in the current real estate market and assuming a mortgage could involve different…
A seller owns a home in a 100-year flood plain and would like to put it on the market. Because the property is on a flood plain, it will probably require a discount to sell it. In states with "seller disclosure laws", the seller will need to advise the buyer that the home is believed to be in a…
Rental Property: A Financially Successful Investment
Owning rental property can be a financially successful investment. Ilyce advises a reader who recently bought her first rental property on how to make her investment a financial success. One of the most important ways to make owning a rental property a financially successful investment is by renting…
