A wrong name on an annual assessment causes tax problems. Mortgage paperwork with a wrong name on a tax document like the annual assessment can cause tax problems. Correct a wrong name on an annual assessment tax document to avoid tax problems. The wrong name on an annual assessment tax document can cause a homeowner tax problems like missing out on tax benefits, tax reductions and tax discounts.
A reader wants to know whether she should change her name on her real estate notice and tax bills because of a misspelling that appears on the real estate and tax forms. While real estate law problems may arise if the name change is major, if the name change isn't serious, you may not have to change your name. You should contact a lawyer or tax specialist for other questions about changing your name.
If you have inherited a home, or other type of real estate, whether by a life estate or with full ownership, there are laws you should know if you want to gift the real estate property to someone else. Many expensive gifts, such as real estate, require a gift tax. You should consult a tax expert to see how you can transfer ownership of the real estate without having to pay the gift tax. Some ways to avoid the gift tax include slowly transferring ownership of the real estate, or giving the real estate all at once, taking out a mortgage, and slowly forgiving the gift receiver's debt. Remember to always to consult a tax expert with any questions.
VA Home Loan May Still Work Even When Spouse Must Obtain A Loan Modification On An Investment Property
Use a VA home loan for loan modification on an investment property. A VA home loan can be used for a loan modification on an investment property. Consider using a VA home loan on an investment property when trying to get a loan modification. While you could use a VA home loan for loan modification on an investment property lenders might not modify your loan unless you are in serious risk of losing the property.
Dividing property in a divorce, who gets the house? Getting a divorce and dividing property and assets is complicated. Dividing property includes the house, refinancing the house, retirement funds and all other property and assets. So who gets the house when dividing property in a divorce? Owed mortgage payments and refinancing the mortgage must be considered when deciding who gets the house and dividing property in a divorce.
The wrong name is put on a quit claim deed for a new property. Fixing the wrong name on a quit claim deed depends on who gave you the property via quit claim deed. Talk to a closing agent, settlement agent or title company to find out if you can fix the wrong name on a quit claim deed. The process to rerecord a wrong name on a quit claim deed varies state to state. Talk to a real estate lawyer if the wrong name is on a quit claim deed.
You can add anybody you like to the title to your property subject to a couple of rules that generally apply everywhere. Adding a name to the need is fairly simple, as long as your condo association rules don't prohibit adding a name to the deed. Check with your condo association board and your lender to add a name to the deed.
Closing costs not disclosed to homebuyer at time of purchase. A homebuyer was not told about closing costs when buying a home. Blame for failure to disclose home closing costs to a homebuyer could fall on bank lender or real estate agent. Closing agent did not disclose closing costs to homebuyer, buyer should contact a real estate attorney. Bank is required to give final disclosure of all closing costs and fees to homebuyer at closing for their home purchase.
An inherited property may hit a family with gift taxes when the try to sell the inherited house. Poor estate planning can lead to extra taxes. Gift taxes and high capital gains tax are some of the negatives of inherited property. Adult children inherited a property from their parents and now want to sell the house; they will be hit with gift taxes. They want to gift the inherited property back to their parents to avoid gift taxes when selling the inherited property. Talk to an estate attorney about the best options for your estate planning and how to avoid paying extra gift taxes and capital gains taxes on an inherited property.
An easement agreement may not solve this property encroachment. Homeowner concerned about property encroachment after building a concrete retaining wall considers easement agreement. An easement agreement may not solve this property encroachment due to a retaining wall; a license agreement might be the solution. An easement agreement requires the neighbor's lender's consent. Know your rights to a property. The definition of an easement is usually a document that is placed on the record title of one property owner that gives a neighbor certain rights to that property.