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Recent Cooperative Housing questions

Tying to find the best way to keep a house that I am on the

Hello, tying to find the best way to keep a house that I am on the title to and have ben living in for twelve years, but I am not on the loan my x husband is. He is willing to let me keep the house if I make all of the future payments. I cannot qualify for the loan by myself, but he is willing to hold the loan in his name for me. could this work? and if so how do we protect ourselves legally ?JA: Because real estate law varies from place to place, can you tell me what state this is in?Customer: CAJA: Has any paperwork been filed?Customer: noJA: Anything else you want the lawyer to know before I connect you?Customer: No

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Barrister

Attorney/Landlord/Realtor

Doctoral Degree

50,130 satisfied customers
I live in Ohio. I own a house with my husband and there is a

hello, I live in Ohio. I own a house with my husband and there is a mortgage on the house. We are both in our 70's. Can we put a house with a mortgage in a trust with our son as the beneficiary?JA: Since estate law varies from place to place, can you tell me what state this is in?Customer: OhioJA: Has any paperwork been filed?Customer: what type other than a mortgage deed by the bank.JA: Anything else you want the lawyer to know before I connect you?Customer: no

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Richard

Owner

Doctoral Degree

48,594 satisfied customers
My kids mother lives in house that I am souly on morgatge,

my kids mother lives in house that I am souly on morgatge, but also years ago she had me put her on title that I was not really asure that I had done. now I want to get married and my demlia is how dose that affect my future wife as far as libelity as a couple, is she protected any way.JA: Because real estate law varies from place to place, can you tell me what state this is in?Customer: OhioJA: Has any paperwork been filed?Customer: supposively on county website but have not gotten a copieJA: Anything else you want the lawyer to know before I connect you?Customer: should I put propty in lcc or would a rental agreement be more apt

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Loren

Juris Doctor

40,242 satisfied customers
My daughter's name is on the deed with me in case I should

My daughter's name is ***** ***** deed with me in case I should die, I want the property to go to her automatically, however, I hold the mortgage, lots of equity. Must she qualify to hold this mortgage or just continue making the monthly payment. State of North Carolina

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Barrister

Attorney/Landlord/Realtor

Doctoral Degree

50,130 satisfied customers
Are cooperative housing communities where the corporation

Are cooperative housing communities where the corporation owns the land and the homeowners own the improvements and are given shares by the corporation required to have reserve funds in the state of California. And if so, can you cite chapter and verse for me or provide a link to the statute.Regards,Steve ******

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Ely

Counselor at Law

Juris Doctor

67,064 satisfied customers
My father owns a house in Arizona Pima County, but lives in

My father owns a house in Arizona Pima County, but lives in Ohio.There is a $70K principal balance owed on the Arizona property.A relative who is going to be the sole beneficiary of the Arizona house upon my fathers death, got him to sign a Beneficiary Deed. Here is my worry. Does this Deed that is held to Arizona Law, require that the house be paid in full from my fathers assets prior to the transfer to the beneficiary? In other words, is this a really sneaky way to obtain a larger portion of my fathers assets? I am fine letting the relative get the house with all current principal plus remaining debt. I am not happy with it if they receive the paid in full from my father assets. My father is still alive and he also doe snot want this to happen. So I need to figure what to do here.

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Barrister

Attorney/Landlord/Realtor

Doctoral Degree

50,130 satisfied customers
I recently received a letter from the loan company and am

I recently received a letter from the loan company and am not sure what to send them next. please take a look at it and let me know what you think

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Richard

Owner

Doctoral Degree

48,594 satisfied customers
I have a question regarding. Obtaining a title of Executor

I have a question regarding. Obtaining a title of Executor of Estate. My dad passed in 2012 and now we are having issues with the mortgage and getting questions answered by the mortgage company that has been causing problems since November of 2015.

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Richard

Owner

Doctoral Degree

48,594 satisfied customers
Our primary and only residence (between 1996 and 2011) where

Our primary and only residence (between 1996 and 2011) where we resided in Vienna Virginia (accept for a 3 year duration when we lived abroad on work assignment) we rented out in 2011 when we bought a second residence. Altogether we have lived 12 years of the 20 years of owning our Vienna residence as primary residence (60 percent of the time).If we sell the house now we understand that we will have to pay the full capital gains tax and not be able to get the exemption on capital gains (ie of the $250K individual and $500K joint). We understand the test for exemption is 2 yrs of the last 5 yrs (40 percent). Would IRS accommodate a case where you have lived in the residence a total of 60 percent. Would IRS make exemptions on a case by case to people who have lived well over the 40 percent threshold applied over the last five year test period ?

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Richard

Owner

Doctoral Degree

48,594 satisfied customers
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