Real Estate Law

Have real estate law questions? Ask a real estate lawyer.

Ask a Lawyer,
Get an Answer ASAP!

This answer was rated:

A GOOD FRIEND OF MINE WANTS TO LEAVE A HOUSE TO ME, THERE IS…

A GOOD FRIEND OF...

A GOOD FRIEND OF MINE WANTS TO LEAVE A HOUSE TO ME , THERE IS NO MORTGAGE ON THE HOME AND SHE WITH HER REASONS DOES NOT WANT TO GIVE IT TO ANY FAMILY FOR HER OWN REASONS. I WOULD LOVE TO HAVE IT BUT IAM A REAL ESTATE BROKER AND IAM CONCERNED ABOUT THAT EVEN THOUGH SHE IS IN THE REAL ESTATE FIELD. IS IT BETTER THAT I GIVE HER MONEY TOWARDS THE HOUSE INSTEAD OF GIVING TO ME AS A GIFT?

Lawyer's Assistant: Because real estate law varies from place to place, can you tell me what state this is in?

NEW JERSEY

Lawyer's Assistant: Has anything been filed or reported?

NO IT WAS HER MOTHERS HOUSE , AND HER MOTHER LEFT IT TO HER.

Lawyer's Assistant: Anything else you want the lawyer to know before I connect you?

I JUST WONDERING HOW I SHOULD HANDLE THIS.

Show More
Show Less
Ask Your Own Real Estate Law Question
Answered in 1 minute by:
3/8/2018
Barrister
Barrister, Lawyer
Category: Real Estate Law
Satisfied Customers: 41,102
Experience: 17 years real estate, Realtor. Landlord 26 years
Verified

Hello and welcome! My name is ***** ***** I am a licensed attorney and will try my best to help with your situation. There may be a slight delay in my responses as I type out an answer or reply.

.

When is she wanting to gift you the house... when she passes or now?

.

.

thanks

Barrister

Ask Your Own Real Estate Law Question
Customer reply replied 1 month ago
now
Customer reply replied 1 month ago
don't want to call at this time

Ok, there is no conflict at all if she wants to gift you the house now and is mentally competent. A person can gift real estate to anyone they want, regardless of whether they are in the real estate industry or not.. So your broker's license wouldn't have anything to do with this or create any conflict at all..

.

She can simply quitclaim deed you the house if she wants to do so and you record the deed. Then the house is yours and the transfer is completed.

.

As an aside, in addition to being an attorney, I have also been a licensed Realtor for over 15 years...

.

.

thanks

Barrister

Ask Your Own Real Estate Law Question
Customer reply replied 1 month ago
thank you but one more question, i don't know if you know the answer or not but is it better for me to pay her something for this house so its not seen as a gift. I'm concerned about tax gift tax.thanks

There are no gift taxes on the recipient of the gift... only potentially on the person who makes the gift..

Ask Your Own Real Estate Law Question
Customer reply replied 1 month ago
IF SHE GIFTS ME THE HOUSE SHE WILL HAVE TO PAY GIFT TAX AND HOW IS THAT FIGURED OUT? THATS WHY I WAS WONDERING IF I BUY AT A LOW PRICE IF THAT WOULD BE BETTER FOR HER.

Correct. But if you pay her $1 and the property is worth $100K, she has still made a gift to you of $99,999. So unless you pay her fair market value, there is going to be some type of gift here..

.

But she won't have to pay any taxes if she uses up a portion of her $5.6 million lifetime gift tax exemption and files an IRS Form 709 with her taxes in the year of the gift..

Ask Your Own Real Estate Law Question
Customer reply replied 1 month ago
BARRISTER YOU WERE GREAT, IF I HAVE ANYMORE QUESTIONS I WILL CONTACT YOU.THANKS

You are very welcome. Happy to help any time.

.

It was my pleasure to work with you and help with your question. If you ever need me in the future, you can post a new question with "For Barrister" in the title and the JustAnswer employees will get it to me.

.

If you feel I have answered all your questions, I would very much appreciate a 5 star rating by clicking on the rating scale on your screen as that is the only way I receive credit for my work.

.

.

Thanks much

Barrister

Barrister
Barrister, Lawyer
Category: Real Estate Law
Satisfied Customers: 41,102
Experience: 17 years real estate, Realtor. Landlord 26 years
Verified
Barrister and 87 other Real Estate Law Specialists are ready to help you
Ask your own question now
Was this answer helpful?
Ask Barrister Your Own Question
Barrister
Barrister
Barrister, Lawyer
Category: Real Estate Law
Satisfied Customers: 41,102
41,102 Satisfied Customers
Experience: 17 years real estate, Realtor. Landlord 26 years

Barrister is online now

A new question is answered every 9 seconds

How JustAnswer works:

  • Ask an ExpertExperts are full of valuable knowledge and are ready to help with any question. Credentials confirmed by a Fortune 500 verification firm.
  • Get a Professional AnswerVia email, text message, or notification as you wait on our site. Ask follow up questions if you need to.
  • 100% Satisfaction GuaranteeRate the answer you receive.

JustAnswer in the News:

Ask-a-doc Web sites: If you've got a quick question, you can try to get an answer from sites that say they have various specialists on hand to give quick answers... Justanswer.com.
JustAnswer.com...has seen a spike since October in legal questions from readers about layoffs, unemployment and severance.
Web sites like justanswer.com/legal
...leave nothing to chance.
Traffic on JustAnswer rose 14 percent...and had nearly 400,000 page views in 30 days...inquiries related to stress, high blood pressure, drinking and heart pain jumped 33 percent.
Tory Johnson, GMA Workplace Contributor, discusses work-from-home jobs, such as JustAnswer in which verified Experts answer people’s questions.
I will tell you that...the things you have to go through to be an Expert are quite rigorous.

What Customers are Saying:

Mr. Kaplun clearly had an exceptional understanding of the issue and was able to explain it concisely. I would recommend JustAnswer to anyone. Great service that lives up to its promises!

Gary B.Edmond, OK

My Expert was fast and seemed to have the answer to my taser question at the tips of her fingers. Communication was excellent. I left feeling confident in her answer.

EricRedwood City, CA

I am very pleased with JustAnswer as a place to go for divorce or criminal law knowledge and insight.

MichaelWichita, KS

PaulMJD helped me with questions I had regarding an urgent legal matter. His answers were excellent.

Three H.Houston, TX

Anne was extremely helpful. Her information put me in the right direction for action that kept me legal, possible saving me a ton of money in the future. Thank you again, Anne!!

ElaineAtlanta, GA

It worked great. I had the facts and I presented them to my ex-landlord and she folded and returned my deposit. The 50 bucks I spent with you solved my problem.

TonyApopka, FL

Wonderful service, prompt, efficient, and accurate. Couldn't have asked for more. I cannot thank you enough for your help.

Mary C.Freshfield, Liverpool, UK

< Previous | Next >

Meet the Experts:

Tina

Tina

Lawyer

5,436 satisfied customers

17 years of legal experience including real estate law.

Barrister

Barrister

Lawyer

41,102 satisfied customers

17 years real estate, Realtor. Landlord 26 years

Infolawyer

Infolawyer

Lawyer

7,785 satisfied customers

Experienced lawyer

Ray

Ray

Lawyer

7,559 satisfied customers

Texas Attorney for 30 years dealing in real estate

LawTalk

LawTalk

Attorney

6,207 satisfied customers

I have 30 years legal experience. Additionally, in CA I held a Real Estate Broker's license.

Dimitry Esquire

Dimitry Esquire

Attorney

5,526 satisfied customers

JA Mentor, multiple jurisdictions, specialize in business/contract disputes, estate creation & admin

Ely

Ely

Counselor at Law

4,925 satisfied customers

Qualified attorney in private practice including business, family, criminal, and real estate issues.

< Previous | Next >

Related Real Estate Law Questions
Will a real estate attorney handle disbursement of money
Will a real estate attorney handle disbursement of money from sale of house to each party of divorce and third party creditors. … read more
Barrister
Barrister
Lawyer
41,102 satisfied customers
Are you familiar with Texas real estate and contract law.
Are you familiar with Texas real estate and contract law … read more
Ray
Ray
Lawyer
Doctoral Degree
7,559 satisfied customers
Is it feasible to operate a legal firm and a real estate
Is it feasible to operate a legal firm and a real estate business as DBAs under an Umbrella LLC. … read more
Ray
Ray
Lawyer
Doctoral Degree
7,559 satisfied customers
In a transaction involving a "gift of real estate" there is
In a transaction involving a "gift of real estate" there is no consideration (it's a gift). If the gift deed is recorded is it protected from third party claims or can it be challenged because there w… read more
Barrister
Barrister
Lawyer
41,102 satisfied customers
I am in one piece of real estate that are owned by for
I am in one piece of real estate that are owned by for individuals as tenants in common. If one of them is willing to give me his order what can be done to the deed so no property tax is impacted … read more
Phillips Esq.
Phillips Esq.
Attorney
JD
19,259 satisfied customers
Real estate Question Can you define “wholesale real estate”
Real estate Question Can you define “wholesale real estate” & “Bandit”sign? Also, are bandit signs legal in Michigan?… read more
LegalGems
LegalGems
Juris Doctorate
11,587 satisfied customers
Need a real estate lawyer in city. I signed a real estate
I signed a real estate contract without my thinking through but would like to cancel the contract. what can I do without getting sued? … read more
TaxAttorneytoHelp
TaxAttorneytoHelp
Owner
Doctoral Degree
2,542 satisfied customers
What is the statute of limitations on a real estate
What is the statute of limitations on a real estate transaction that is based on an earlier created FORGED Deed. … read more
Attyadvisor
Attyadvisor
Doctoral Degree
7,694 satisfied customers
Is an Agreement for the Sale of Commercial Real Estate
Is an Agreement for the Sale of Commercial Real Estate binding if only the Husband signs the Agreement although both the husband and wife are on the deed for the property … read more
Ray
Ray
Lawyer
Doctoral Degree
7,559 satisfied customers
Is there a real estate loan for business where the borrower
Is there a real estate loan for business where the borrower pays monthly for several years and then closes the loan with a large balloon payment?… read more
Damien Bosco
Damien Bosco
4,165 satisfied customers
Does a real estate investment fund need a real estate
Does a real estate investment fund need a real estate license to operate? The crowd funding company's real estate broker license was suspended since 11/11/2017 due to several violations that was broug… read more
PaulmoJD
PaulmoJD
Attorney At Law
Doctoral Degree
106 satisfied customers
This is for a lawyer specializing in Consumer /Real Estate
This is for a lawyer specializing in Consumer /Real Estate law. I lost my job due to a disaster (hurricane), that destroyed my workplace. I would like know my rights and options before talking to the … read more
PaulmoJD
PaulmoJD
Attorney At Law
Doctoral Degree
106 satisfied customers
I have a real estate question. I inherited a mortgaged home
I have a real estate question. I inherited a mortgaged home in the state of Florida. Probate has already taken place and the deed is in my name. Queston is will the mortgage company give me a hard tim… read more
LawGuy
LawGuy
Juris Doctor
123 satisfied customers
I own a commercial real estate mortgage co. I operate under
Hello, I own a commercial real estate mortgage co. I operate under a California Finance Lender's License (CFLL). I would appreciate it if you can tell me if it is legal to pay someone a referral fee o… read more
KLAW
KLAW
Juris Doctorate
2,043 satisfied customers
I currently hold a Real Estate License and Mortgage License
I currently hold a Real Estate License and Mortgage License in the state of Colorado. I am being told that I am a risk to hire from a local Real Estate Office because hold both. I do not double side a… read more
Infolawyer
Infolawyer
Lawyer
Doctoral Degree
7,785 satisfied customers
I need to ask a question about real estate/mortgage contract
Hi I need to ask a question about real estate/mortgage contract law in Philadelphia … read more
Infolawyer
Infolawyer
Lawyer
Doctoral Degree
7,785 satisfied customers
Real estate question. NC. Mortgage. Need to know if fha pr
need to know if fha pr va loans will allow for spring water instead of well… read more
N.Brown ESQ
N.Brown ESQ
Juris Doctorate
77 satisfied customers
If I'm a mortgage banker, can I own a real estate brokerage
If I'm a mortgage banker, can I own a real estate brokerage and have my agents use me as their preferred lender? … read more
Phillips Esq.
Phillips Esq.
Attorney
JD
19,259 satisfied customers

DISCLAIMER: Answers from Experts on JustAnswer are not substitutes for the advice of an attorney. JustAnswer is a public forum and questions and responses are not private or confidential or protected by the attorney-client privilege. The Expert above is not your attorney, and the response above is not legal advice. You should not read this response to propose specific action or address specific circumstances, but only to give you a sense of general principles of law that might affect the situation you describe. Application of these general principles to particular circumstances must be done by a lawyer who has spoken with you in confidence, learned all relevant information, and explored various options. Before acting on these general principles, you should hire a lawyer licensed to practice law in the jurisdiction to which your question pertains.

The responses above are from individual Experts, not JustAnswer. The site and services are provided “as is”. To view the verified credential of an Expert, click on the “Verified” symbol in the Expert’s profile. This site is not for emergency questions which should be directed immediately by telephone or in-person to qualified professionals. Please carefully read the Terms of Service (last updated February 8, 2012).

DISCLAIMER: Answers from Experts on JustAnswer are not substitutes for the advice of an attorney. JustAnswer is a public forum and questions and responses are not private or confidential or protected by the attorney-client privilege. The Expert above is not your attorney, and the response above is not legal advice. You should not read this response to propose specific action or address specific circumstances, but only to give you a sense of general principles of law that might affect the situation you describe. Application of these general principles to particular circumstances must be done by a lawyer who has spoken with you in confidence, learned all relevant information, and explored various options. Before acting on these general principles, you should hire a lawyer licensed to practice law in the jurisdiction to which your question pertains.

The responses above are from individual Experts, not JustAnswer. The site and services are provided “as is”. To view the verified credential of an Expert, click on the “Verified” symbol in the Expert’s profile. This site is not for emergency questions which should be directed immediately by telephone or in-person to qualified professionals. Please carefully read the Terms of Service (last updated February 8, 2012).

Show MoreShow Less

Ask Your Question

x