Friday, March 17, 2017

Real estate laws in Georgia in 2017

Q: What is the dissimilarity between Deed and also a Title to a property?

Attorney Solution Ben F Meek III

A: A Deed is a document which is a type of muniment or signs of title and reveals the grant of certain rights in and to the identified property. "Title" is the bundle of rights the majority of people think of as possession. The deed to your house should reflect the nature of your title (ownership rights) such as, fee simple, a duration of years, a life estate, a leasehold, etc. Fee simple means whole ownership or about outright. The deed may also represent co- possession as well as the particular form of co-ownership, like a co-tenancy, tenancy by the entirety (in some states), or joint tenancy with right of survivorship. Hope it will help.

Q: I sold a rental property. When does the new owner take duties for the lease with all the tenant?

In October of 2012, a brand new tenant moved to the home and that I put the house under contract. I shut on the home on November 1, 2012. The tenant moved out in November of 2014. Now the tenant is trying to get me to refund the Deposit (plus another $1,800). I do possess accurate documentation of receiving the down payment along with a down payment transfer wasn't recorded on the statement that is closure. At what point am I responsible for the lease? Best wishes, Dennis
Attorney Solution Robert Jason De Groot

A: Usually, at closure is when the newest owner would take over.

Q: I am my mother's poa. She owns two houses that I think I need to transfer the title to my name and has dementia. how?

She's a will that leaves everything to me but do I should transfer the deeds to me before she expires?
Lawyer Answer Michael David Birchmore

A: Tend not to work with a quitclaim deed to achieve this. Take a lawyer the current deed and ask them to draw up a warranty dee with rights of survivorship. Do not fool around with this. It can cost you much money to get it straightened out, in case you botch it by doing it yourself. You're able to typically get a title done for between $75 and $150.

Q: can I sue my neighbor for throwing junk in my garbage can multiple times and also for lying down in center of street?

Attorney Response Adam Studnicki

A: Throwing junk in your garbage can might be a crime and there may be civil remedies at the same time. I do not practice in Georgia, so please check with a local lawyer. Please Take Notice: I'm not your attorney unless we enter into an engagement agreement in writing. That is general information which is given for legal education just. It's not legal counsel, also it might not work for the unique situation. It is impossible to assess an issue that is legal without a comprehensive consultation and review of all of the important facts and records. I strongly encourage one to talk to an area lawyer to get legal counsel and help along with your specific situation at your first convenience. I am licensed to practice law in Arizona.


Q&A about Texas land laws

Q: My brother was incarcerated and his own wife sold their house and had her ex-husband Forge his name what can he do about it

Attorney Reply Kiele Linroth Pace

A: Forgery of Mortgage or a Title is a State Jail Felony which should be reported to law enforcement. See the correct division of the marital assets along with a family law lawyer about a divorce.

Q: When my husband filed divorce he got the house I am still how do I get off of it, I used to be in federal prison

Attorney Reply Brian Lehman

A: The loan and also the division of assets are dilemmas that are different. I'd recommend talking using an attorney about filing a motion with all the court that requires your husband to take over your accountability on your house. But because the loan was from the financial institution, I don't believe there is anything more you could do to choose yourself "off" the loan.

Q&A about PA real estate laws

Q: Can we sell the home without any penalties?

We bought my mother in law's home in 2013. We were living with her 2 years at the time when we purchased the home. She had no mortgage. We paid her $100,000 (mortgage). We would like to sell the home and move to a smaller property. Is there any penalties if we were to sell it this year?
Lawyer Answer Peter Munsing

A: If you had it titled in your name no. However you would have to pay off the balance of the mortgage on sale.

Legal real estate from Ruth Baker

Q: When you inherit a home that was in a trust does the tax basis change?

The trust currently owns the home. My mum is the trustee and I am to get the home upon her death. I've a copy of the trust and will. Without increasing the tax basis of the house can I put the title within my name?
Lawyer Solution Richard Samuel Price

A: In my opinion that you are talking about the assessed value for property taxes. A transfer of a property from parent to child might be excluded from reassessment for property tax purposes. For the primary residence, there's an exclusion that is endless. For all other property, the exception is limited to the very first $1M of value. You need to file an application for the exclusion with the tax assessor within three years of the transfer. In a nutshell, that ensures that the property taxes should stay the exact same.