Home titles and property taxes: What you need to know to make sure you don’t end up with a defective deed. Q: We purchased a house and have been going through a lawyer to get our deed from the previous owner. In the meantime, we’ve been living in the house for well over a [...]
What happens to my taxes when I use a quitclaim deed to transfer property? The answer depends on a few factors, including whether or not you earned income on the property. Q: I bought a property for my niece some time ago. I paid for it with cash and she was paying me back in [...]
What happens if there’s no will? Homeownership and property taxes are two key issues to sort out if someone dies intestate (with no will) but has real property. Q: Does a family member or friend have to start paying property taxes after the owner of the house (who was over 65) dies in order to [...]
When a parent adds their children to the title of their home - and later sells that home - the tax implications for the children are complicated. Q: I read somewhere that what my mother did by putting her kids on the title to her home with her was wrong. How can the title be [...]
How to determine taxes after selling an inherited home. When selling an inherited home, especially if it's out of state, consider how it'll impact taxes. Q: We live in North Carolina but I also own a home in New York City with my four siblings. We inherited the home from our parents and now each [...]
If I pay back taxes on a property do I own it? This reader wants to know how the system works and if he becomes the property owner when he pays back taxes. Q: If I pay the back taxes on a property do I own it? My parents are about to lose our family [...]
Does Jonathan Smoke say the housing market is on a roll or slowing down? Can landlords make tenants pay if they break their lease? Get answers to these questions by listening to this week’s Ilyce Glink Show. You can click the audio link below to listen to the full show, or download the podcast via iTunes. On this week's [...]
With the advent of the so-called “sharing economy,” a world of fun and profit has opened up to consumers. You might be driving for Uber or Lyft, renting out your home on Airbnb, or doing odd jobs on TaskRabbit, all in hopes of making a little cash. While a side job can be a great [...]
4 ways to save on monthly housing costs. Homeowners who are interested in lowering their monthly housing costs should give these money saving tips a try. Owning a home is cheaper than it was five years ago. Believe it or not, on average, homeowners are spending about $65 less per month on their mortgages than [...]
You’ve done all the right prep work to buy a home. You saved for a down payment, cleaned up your credit, and got pre-approved for a mortgage. You found a home that you can afford, and now the days are ticking down to closing—and everything seems too good to be true. Unfortunately, it could be. [...]
