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How can I get his name off the house and put my name on… #realestate #divorce

Image via Wikipedia DEAR BENNY: My husband and I own a rental property that is paid off. We have been talking about separating, and my husband has said that I can keep the house. How can I get his name off the house and put my name on, or should we just sell it? I [...]

Buyers demand $500 security deposit with Title co. as part of inspection Addendum #realestate

DEAR BENNY: We are selling a $620,000 home. As a part of the inspection addendum, the buyers are demanding that we put down a $500 security deposit with the title company, refundable if there is no damage to the home between now and move out. Our home is in superb condition. The refund of our [...]

Condo owners: learn your rights #realestate

Image via Wikipedia DEAR BENNY: Do you know of any books or brochures that help explain the responsibilities of a condominium developer/owner? We live in an unfinished condo development in St. Louis. There are construction and maintenance issues that the current residents believe are the responsibility of the owner/developer, not the condo association. The items/issues [...]

The value of the house on the date of death becomes the property's new tax basis

DEAR BENNY: My parents’ house is paid off. The house is in my father’s name only; my mother has his power of attorney (and I have hers). My father is in a nursing home, recovering from a stroke, but we do not foresee him coming home (he’s 86); he’s wheelchair bound, and conversant, though with [...]

Foolish to buy property until your lawsuit is resolved…

DEAR BENNY: I have just found out that my neighbor’s septic tank leach line and leach pit is on my property. I was going to buy the property when it was recently up for sale, but I was not given the chance. I did file a lawsuit against the seller. The contract purchaser has not [...]

Why did you sign the divorce papers? Get your name off of that loan!

Image via Wikipedia DEAR BENNY: I am recently divorced. We had two houses. In the divorce, I got one and he got one. We both signed quitclaim deeds to each other. However, I needed to refinance mine to pay off the bills I accumulated just to get my house back into livable shape. (It was [...]

Unmarried co-titled adults fulfilling 24-out-of-60-month occupancy eligible for 250K exemption

Image via Wikipedia DEAR BENNY: My partner and I have a very serious decision to make quite soon. Can unmarried, co-titled adults on a property, having fulfilled the 24-out-of-60-month occupancy requirement each be eligible for the $250,000 exemption? –Pamela DEAR PAMELA: The answer is yes. So long as both of your are on title, and [...]

Opening up what is known as "ancillary" or "foreign" probate

DEAR BENNY: I live in Florida and am executor of the will of a friend in New York City who owned a one-half interest in a condo in Ocean City, Md. She wanted to give that interest to my nephew upon her death. How do I go about transferring her interest to him? Do I [...]