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Recent Rental Property questions

I would like to help my daughter buy a new house. I can

I would like to help my daughter buy a new house. I can contribute 300,000 towards her down payment. Do I need to be on the deed with her so it is not considered a gift and subject to 40% gift tax? Another option is I pay off her balance on her current home so she has a free and clear home to use as a rental. That amount would be $197,000. Would I have to pay any gift taxes on that amount??

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Loren

Juris Doctor

37,218 satisfied customers
My family has been renting our home in Upland CA 91784 since

Hello,My family has been renting our home in Upland CA 91784 since 2013. We have been receiving foreclosure notices in the mail and requests for signatures on certified letters since mid August.I contacted the realtor who helped us find this rental, He found ou that the house has gone into foreclosure. Notice of Default was filed on August 10.I spoke to my landlord last night about this and he said "nothing to worry about. relax, it has been taken care of, you have to trust me"....I don't.Any advice?

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LawTalk

Attorney at Law

Juris Doctor

33,122 satisfied customers
I have rental property in Pittsburgh, PA. On August 1, 2016

I have rental property in Pittsburgh, PA. On August 1, 2016 a tenant called and left me a message that I could pick up her rent for August. Due to illness, I was not able to get her check. Then on August 9 I received a call from someone for a reference for this individual and was surprised to learn she was looking for another apartment. Shortly thereafter, (within a half hour after giving her a good reference), I received a call from the tenant, stating that she was moving out by the end of the month. She stated she had called me back on August 1st to tell me she was moving, but she never left a message. I told her that she had to give me 30 days notice. Her year lease was up in June and recently she had told me she would sign another year lease. Since I had not given her one, she was month to month. Since, she had found another apartment that she wanted to move in to, she was not agreeable to giving me 30 days notice. The following week, I did receive a certified letter, mailed August 16, that she was giving notice. My question is Before returning her Security Deposit, can I subtract for rent since she did not give 30 days notice??

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RealEstateAnswer

Juris Doctor

30,506 satisfied customers
I live in Davie, FL., And am a tenant with 3 rescued dogs.i

Hi,I live in Davie, FL., And am a tenant with 3 rescued dogs.i was put in the unfortunate situation of having to relocate here from OK suddenly due to being laid off from a spinal surgery with spinal damage. A friend of mine said a co worker of hers was a landlord looking for a tenant in a very sought after unit. Having no time to fly back and forth, I paid first, last and security and moved in. The landlord said due to the FLL airport all windows and doors would be being replaced for her and that the contractors did his work in a "couple of days" with minimal disruption. I discovered many issues including both doors had broken locks, and several windows were broken to which the landlord replied "we are not spending a penny fixing anything since they will be replaced." I had to duct tape windows shut, my dogs actually got out of the house while I was not home because of the broken doors, the yard was not fully fenced as stated, and the landlord refused to fix any of the locks on the doors leaving me with a rental unit which could easily be broken into since may. I received a letter recently telling me the contractors would be starting construction on this duplex 10/10/2016, and work would be done from 8-5 M-F for 2 weeks with subsequent visits thereafter which means the AC could not be on and workers coming in and out all day every day for the duration.When I expressed concern for the duration of this project, the landlord said said "well, we told you, so take a vacation for these 2 weeks." I told her I could not afford a vacation or to payout of pocket to rent something else. The letter said I could have a sacred room with which to stay during this time with my dogs and figured I could close the rest of the AC ducts except my bedroom so my dogs could have AC and relief from the 90 degree weather and I could lock them in my bedroom when I had to work and she said it was not acceptable. Yesterday she said my animals could not be in the unit at all unless I put them in cages for the duration of project with no AC with workers present for the 90 hours in 90 plus degree weather. I am disabled. I told her if i have to board my dogs I would deduct it from my rent and they threatened to evict me and get a new renter in paying more rent after the construction was completed if I did not pay full rent amount this saturday.While I try to work part-time with my disability, 1-6pm, this whole situation is very inconvenient for me, I will have to be out of the house every day by 8am with my dogs.they are unwilling to try to accommodate me in any way even though I always pay my rent on the first, and they frequently come by unannounced onto the rental property, so much is broken and I also have mold on my ceiling from a leak 3 mos ago they also have not fixed. This appears to be a set up whereby I make all the concessions, financially and inconvenience wise and pay out of pocket for my dogs so they can get their house upgraded for free to rent to someone else after the construction is completed. This is the project in the FLL airport noise reduction program. Please advise.

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RealEstateAnswer

Juris Doctor

30,506 satisfied customers
I signed a one year Exclusive Listing Agreement for my

I signed a one year Exclusive Listing Agreement for my rental property in California and changed my mind to put my house for sale after one day. The Listing agent did not take it off the market for a day even after I asked her to. After 3 days, I sent an email and the listing was withdrawn from MLS. I told my Broker again that the property is not for sale but she won't terminate my agreement contract til it expires in a year. It has only been 5 days since I signed the contract. Broker says that if the house is truly not for sale, why does it matter if she does not cancel the listing agreement?My question is, can I terminate the contact due to abandonment if the property is still withdrawn from the market 3 months from now? Will the broker be violating any code of ethics as a licensed realtor? What effect will it have if I file a claim with the department of real estate?

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37,986 satisfied customers
After 3 days of signing an Exclusive Residential Listing, I

After 3 days of signing an Exclusive Residential Listing, I decided not to sell my house. I don't trust my broker but she won't terminate my agreement. She refuses to an agreement.JA: Since estate law varies from place to place, can you tell me what state this is in?Customer: CaliforniaJA: Has any paperwork been filed?Customer: No she took the listing off mls but told me that she will keep the contract. She has a heavy accent and I was under the impression it was good for 90 days But it was written for a year with a 90 day clause. I feel betrayed by her and don't trust her. She left me a voice mail stating I am obligated to stick with the signed agreement and I must pay her commission if I sell my home within a year. She is not compromisingJA: Anything else you want the lawyer to know before I connect you?Customer: Before I signed the agreement, I excitedly told her that I already had a buyer for the home which I found on my own. My tenants in this rental property were interested in being the buyer. I did mention that I could do a for sale by owner since it is a simple transaction. She pissed me and my buyer off. I don't plan on selling but I don't want to be in a contract with her for a year

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Barrister

Attorney/Landlord/Realtor

Doctoral Degree

47,238 satisfied customers
I recently saved A house from foreclosure in a very

I recently saved A house from foreclosure in a very expensive Chapter 11 bankruptcy. I had no problem debt other than the loan on a rental property on which arrears had accumulated. I'd been told the arrears would be rolled into the modified loan I was applying for under Making Home Affordable's HAMP 1 program. I had re-applied for 6 years, always with Bank of America, or the loan servicer to which BofA had handed the loan off in Year 4, requiring new copies of out-dated documents. I was not rejected until the new loan servicer said in Year 5 that my income was inadequate. They had determined it to be about half what it really is.I hired a lawyer, and he got them up to 80% of my real income, which they also rejected, and then finally, he got them to verify my entire gross monthly income of slightly over $10,000/month. In an exquisite Catch-22, they then declined my application for inadequate income, but a later explanation made me question that. They set a foreclosure sale date and managed to arrange things so that I didn't know I had thirty days to appeal. (I can fault my lawyer here. He knew, but didn't think to tell me. They had informed him by telephone, which was improper, and which meant that there was no letter he could forward to me.) I immediately complained to CFPB. I said that the process had been artificially delayed so that my arrears became too great for HAMP 1.The loan servicer responded to CFPB's request that they address my concerns. They repeated that my income was inadequate. To demonstrate that, they showed how they had calculated the allowable arrears, which is not derived from my income. The real reason they declined my application was excessive arrears. They found that they were not allowed to put enough of the current amount owed into the forbearance/balloon to yield a balance that HAMP 1 said I could afford. Well, they should not have been so helpful, because whoever wrote the unsigned letter revealed that they were doing the calculation wrong. HAMP 1 said they could put 30% of the capitalized unpaid principle balance into forbearance, but they had calculated 30% of my original balance (the one I had when I began applying for HAMP 1). That made a big difference, because by then my arrears were nearly half the size of the original balance. They also didn't do the last part of the HAMP process, which was to extend the loan term, if necessary, to create smaller payments (and incidentally much higher amounts paid over the life of the loan). I became curious about this, wondering if this had only been done in my case. Data from the US Treasury showed that this loan servicer had the very lowest HAMP approval rate of all the servicers they tracked. They approved only 12% of HAMP applications. I then found data on Bank of New York Mellon's investor site that showed that any loans they did modify were modified without any adjustment to the loan term. The 2006 tranches all had maturity dates in 2036, the 2007s in 2037, etc. Unless they calculated my allowable forbearance by hand, I assume that they did it wrong for all borrowers, because it would have been built into whatever software they used to determine the net present value of a modified versus unmodified loan.If a fraud examiner were brought into a class action suit against this loan servicer, do you think she or he would find some nicely smoking firearms? Are you familiar with any litigation over matters like these that would supply optimism for a borrower like me? I went through far more than was necessary to get my interest rate dropped from 6.375% to 4%. I couldn't re-fi in 2012 or 2013 because my inflated balance was still too high, and by then the arrears were sky high, too.Additional atrocities attached. The long and short of it is that my HAMP applications were not handled honestly, which I think amounts to fraud. Do you?

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37,986 satisfied customers
Yeah I moved into an apartment on August 12th of this year.

Yeah I moved into an apartment on August 12th of this year. Less than 30 days after moving in we had a termite infestation in our bedroom, which they came in and vacuumed them and told us not to open the windows. This left our house extrmeley hot and stuffy, but if we opened the windows termites were pouring in. So fast forward to this Sunday, they infested the apartment again and even more this time. The maintenance vacuumed them and then AGAIN yesterday they came back, and we found them in our clothes, shoe boxes, even eating into our brand new furtnireJA: 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: No.....we asked them very specifically if they have any issue with pests and they said no and did not include any type of disclosureJA: Anything else you want the lawyer to know before I connect you?Customer: No not at this point

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legalgems

Juris Doctorate

13,880 satisfied customers
Maverick. A neighbor built about 8 inches over our 20 foot

Hi maverick. A neighbor built about 8 inches over our 20 foot wide property line in brooklyn. We wish to demand that they remove the breach or pay x amount of dollars.How long do we have to give them to cure and since their breach was with concrete and brick ( and they will probably wish to use such again) , can they be granted an extension for after the winter time to cure if we inform them in December? Concrete workers have many problems doing concrete work in freezing temps, snow and can be impossible. Or does the their liability remain, forcing them to cure and if necessary, make a porch out of metal or implement a basic ramp to their door until they are able to do their work.Furthermore, is there a statutory penalty for building over the property line? Or in other words, do we have a right for x in damages even if they cure?In addition, I believe you have to contest within 10 years in new York, the building upon your property.

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3,820 satisfied customers
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