A lawyer is a person who can give legal advice, draft contracts, help with lawsuits, anything related to the law. Many people don’t consult with a lawyer when they should. Take advantages of the services of a lawyer, depending on your situation. When buying property, writing a will or trying to untangle your taxes, a lawyer can be a great help.
A divorced woman wants to make sure the property she's buying from her ex-husband does not have any outstanding liens. Liens may include mortgage loans and home equity lines of credit or HELOCs. An attorney can also help sort out whether there are any outstanding liens and ensure that the title is free and clear of liens.
When you divorce you may want to remove some of the names on your home's mortgage. You can't remove the name of one of the borrowers on a mortgage loan using a quit claim deed. A quit claim deed can change the names listed on a home's title but not on the mortgage. To change the names on a mortgage loan you have to refinance, sell the home and repay the mortgage loan or pay off the mortgage loan with cash.
A condo owner recently installed replacement windows and his homeowners association notified him that he broke the homeowners association covenant. The replacement windows are similar to his neighbors' windows. Ilyce says he may have to pay a fine or contact a real estate attorney.
When you own rental property and the neighbor to your property sets up a fence that runs over your property line you may decide to ask the neighbor to move the fence. When the neighbor chooses to ignore your request you may have to hire an attorney and take the neighbor to court. Another option is to tear down the fence but you need to fully understand local regulations before doing that.
Today on the Ilyce Glink show, Ilyce invited noted condominium association attorney George Nowack to spend some time on the show discussing some of the issues facing homeowners and homeowner associations during the current housing crisis. Nowack, a partner with the Atlanta law firm of Weissman, Nowack, Curry & Wilco, talked about how foreclosures are sapping HOA coffers, forcing HOAs to become creative in terms of the fees they charge to local homeowners. If you live in a development or condominium that has an HOA, this is a show not to be missed. To find out more, tune into the show. For show notes and updates through the week, check out her blog at www.thinkglink.com/blog , and sign up for her free weekly newsletter on the ThinkGlink.com home page. Check out the videos at www.expertrealestatetips.net. And be sure to subscribe to her YouTube channel.
A property buyer can't be present at the closing of his purchase, and wants to know if an attorney should be there in his place. Having an attorney at the closing will ensure the buyer's interests are represented, legal documents are drawn and that the money flows properly at the closing. An attorney can also ensure that the buyer's plan for the property can be executed as he wants and avoid problems later.
How do you split up the investment in a condo after it's sold? Two friends contributed to the condo's down payment but only one of their names is on the mortgage. How much of the proceeds are each of them entitled to after the sale? Can the friend who's not responsible for the mortgage claim a significant amount of the sale proceeds? A real estate attorney can help determine who gets what and to set up a partnership agreement the next time someone buys property with a friend.
How can you remove a co-owner from a mortgage loan? If you live in a community property state the situation may be treated differently. One option is to have the co-owner sign a quit claim deed. Another solution is to try to amicably separate first and if that does not work to contact a real estate attorney.
If an elderly relative owns a home and quit claims it to you before going into a nursing home the home may be at risk for the Medicaid lookback rule. The Medicaid lookback rule may allow the government to try to recover medical costs by selling an asset such as a home. How does Medicaid treat quit claim deeds? Discover what documentation to gather to protect the home.