(TNS)—Q: I own my home 50/50 with a friend. Neither of us has any close relatives that we would want to leave our half of the house. I read your article about owning a property with other people. Would it be okay to add something to my will stating that my friend will get my…
(TNS)—Q: Our youngest sister lives with our 94-year-old mother and takes care of her. The family has agreed that she will be the sole owner of the property upon my mother’s demise. My sister is listed on the house deed along with my mother, and we were wondering if this is best for tax purposes…
(TNS)— Q: What are the pitfalls for a mother to use her credit to buy a house for her thirty-something son in another state? Both of our names would be on the title. He would make the down payment and make the mortgage payments. After a year, how would I remove my name? — Peggy…
(TNS)—Q: After I was divorced, the court awarded our home to my ex-spouse and ordered him to refinance the mortgage to get me off of it. He has not refinanced the property several years later and pays the mortgage inconsistently, leaving my credit in shambles. What can I do to escape this nightmare? — Nona…
(TNS)—Q: Our association will be remodeling the clubhouse, and there will be a significant assessment. We will have the option to pay off the amount in one lump sum or over 10 years. If I sell while paying off the assessment, am I responsible for paying the balance, or does the new owner take over…
(TNS)—Q: My property’s large side yard is more than big enough to fit another house. I want to deed part of my property to my son so he can build his home there. Should I get my mortgage lender’s permission to transfer the vacant land? Is there anything else I need to do? —Gregg A:…
(TNS)—Q: Recently, there has been an emphasis on stealing titles and the loss of a home. What is the best way to check on the status of our titles and prevent our properties from being stolen? — James A: Real estate title fraud is a severe but fortunately rare event. In a typical real estate…
(TNS)—Q: How should the board member interviewing new residents in our condominium association handle knowing there will be a significant increase in the monthly maintenance fees due to the increasing insurance premium? It is a sensitive subject for sellers to discuss with buyers, but we want to be transparent as an association with our new…
(TNS)—Coronavirus has changed the way we live, and I have received many questions about how it is affecting the real estate market. So far, the residential real estate market has kept moving. While a few transactions have canceled, the vast majority are moving forward. Lenders are lending, and interest rates are strong. If you are…
(TNS) Q: It is getting harder for me to cut the lawn and maintain my landscaping. I am thinking of going with more a “wild” look. Is there a reason that I should not? – Alex A: There are several reasons why you cannot let your landscaping run wild that vary depending on where you…
With home prices still elevated in much of the country, condos have become more realistic for buyers determined to exit the rental train. Read more.
