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What is a Homeowners Association and What Can It Do?

By | May 12th, 2023|

What to do when your homeowners association is making life difficult?  What do HOA's do? Q: I read the article you wrote about first-time homebuyers and homeowners associations. The State of Florida has a lot of gated communities and along with that typically comes a powerful homeowners association (HOA).  Unfortunately, I didn't know that when [...]

Will my son inherit the house?

By | May 12th, 2023|

Will my son inherit the house? Q: I purchased a house with my married son several years ago for him to live in. My husband and I gave him the money for the down payment. Only my credit was checked when we purchased it. Both my son's name and my name are on the deed [...]

What to do with Inherited Property that is Leased

By | May 11th, 2023|

What to do with inherited property that is leased? https://www.youtube.com/watch?v=oeQ0uX-Li4w Tenants, leases, and inherited property. What happens when you inherit property but it comes with a tenants?  Are there options for handling with this lease? Q: My brother and I inherited several acres of commercial property from our parents. The land came with [...]

Paying Tax on Sale of Foreign Property

By | April 26th, 2023|

Am I required to pay tax on sale of foreign property? Q: I sold my house in my home country of Guatemala last year for around $90,000. The buyer paid me half of the sales price by wire transfer to my United States bank account. The other half was paid to me to an account [...]

Transferring Property to Your Child

By | April 26th, 2023|

Transferring property to your child? Here's what to do Q: My husband and I want to give or sell our house to our newly married daughter, who is our only child. She will inherit the house when we pass and receive the benefit of the stepped-up basis at that time, but we hope to be [...]

Common Elements in a Condo Association

By | April 25th, 2023|

What are the common elements in a condo association? What happens when one homeowner makes changes to common elements?  And what happens when they don't check with the condo association board before making those changes? Q: I live in a rather small condominium building of seven units. As you can imagine, our finances are fairly [...]

What happens if my neighbor’s tree falls?

By | April 6th, 2023|

What happens if my neighbor's tree falls and there is damage? Who pays for the damage caused when trees or tree branches fall?  With the increase of wild weather this Spring, we're getting an influx of questions from readers whose trees fall and cause damage to their own property and to their neighbors. They're also [...]

Applying for Senior Real Estate Tax Freeze

By | March 30th, 2023|

How do you apply for senior real estate tax freeze?  What documents would you need? Q: I am going to be applying for the senior real estate tax freeze on my house this year. I do own my house but I don’t have any paperwork of any kind that says I am the owner. How [...]

Putting an Offer on a House that is Under Contract

By | March 21st, 2023|

Can you put an offer on a house that is under contract?  Also what is the difference between under contract and contingent. Q: I’m interested in a property that is under contract but is also under a contingency. I find it odd that this house has been contingent for over six months! I want to [...]

How Does a Homeowners Association Work?

By | March 16th, 2023|

How does a homeowners association work? What are the governing documents of a homeowners association? Q: How does a homeowners association work? In Illinois, do changes to a condominium’s rules and regulations require approval from the condo association residents? And, how can homeowners change the association rules and regulations? Governing documents in a homeowners association [...]

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