Tranfer the title of house or inherit??? PLEASE HELP!!!?
I am a non-resident indian ( greencard holder but Indian citizen). I gave money to my mother to buy an apartment in hyderabad. The apartment is in her name but she is planning to bequeath the house to me in her will. She recently became a green card holder too.
My dilemma is ..should I get the house transferred to my name now and avoid complications later ( a non-resident indian bequeathing a house to another non-resident indian) or is it OK to get it as an inheritance later on?
Which is more easier and beneficial..?
I am not sure about the ... (Asked by Ump V)
|
 |
| View Entire Question | Report Abuse | Similar Questions | See it in Y! |
| A. |
|
As the property is in your mother's name, one day or the other it has to come in your name,
1. She can make a deed and leave it with the advocate, and in the end you can get it registered. you can register when ever you like and that time the prevailing rate will be taken into consideration.
2. now she can gift deed you the property, and you can get the same registered, and the registration cost will be 2 % of the government rate....(Answered by Arni k) |
|
|
| View Entire Answer | Report Abuse | See it in Y! |
What is the best tax soluion,Title tranfer or buy a property from my father in law?
My mother in law past o' way few months ago and my father in law can't handle their rental property. He asked us to take it over and just pay him some cash so he can pay off his current house.
On the rental property they don't own any money, paid off, bought it in 70's for 112K and the value is now about 285K. He wants to have about 200K orless from myself and mywife (his doughter). What would be the best way to approach this, aprticularly that my mother in law past'o way in May. They have filed this ... (Asked by Armin B)
|
|
| View Entire Question | Report Abuse | Similar Questions | See it in Y! |
| A. |
|
Buy the property and get the title transferred into your name, and get your father in law out of the deal. I have heard horror stories of 'friendly' family agreements such as your that turn nasty. I'm sure that you don't think this will happen, but I would not take the chance....(Answered by KYRealEstateGuy) |
|
|
| View Entire Answer | Report Abuse | See it in Y! |
Can anyone lend advice on property tranfer and claiming dependents?
I currently live with my grandparents taking care of them. They want to transfer the deed to their house to me. How does this work concerning my taxes? Is it best to just transfer the deed or for them to sell the house to me? Also, if neither of them file taxes, can I claim them as dependents?
The house is completely paid for...nothing owed on it!
... (Asked by L S)
|
 |
| View Entire Question | Report Abuse | Similar Questions | See it in Y! |
| A. |
|
As far as I know it would be best to transfer the deed..You will still have to pay taxes yearly. But is the house paid off? And if you claim them on your taxes they have to be dependants...thats about it with that...I am pretty sure they need to be children or adopted, but H&R block can do it all when you file...they are a big help and will get you the most money back possible...(Answered by marebear803) |
|
|
| View Entire Answer | Report Abuse | See it in Y! |
Is it possible to tranfer a condo unit's deed even if it's not payed off?
I live with my brother's condo and he is leaving with in this year and his condo is not yet payed off, is it possible to buy his condo for the amount of what ever remaining balance in his mortgage or to be able to just tranfer the deed from his name to me and at the same time to refinance?
... (Asked by Mark S)
|
|
| View Entire Question | Report Abuse | Similar Questions | See it in Y! |
| A. |
|
It is probably possible for you to assume his mortgage which is the proper term for what I understand you want to do. Now and then there are mortgages written that are NOT assumable and you'll have to check his for the answer. A key question you need to to answer is the existing and current interest rate. If the mortgage rate is lower than current, it will be less cost to you to assume his mortgage. If current rates are less than in his mortgage, assuming his load might still be less cost as they ...(Answered by dlmrgnk) |
|
|
| View Entire Answer | Report Abuse | See it in Y! |
Can you tranfer ownership of a deed if it has a lien against it?
I am in the process of having this elderly ladies property deeded to me to keep her family from putting her in a nursing home and selling it. Problem is her son who had previous power of attorney caused the house to have 2 liens against it in her name. The total of both are about -$16,000. Can we transfer with the liens on it????
... (Asked by happy2binsc)
|
|
| View Entire Question | Report Abuse | Similar Questions | See it in Y! |
| A. |
|
Yes you may transfer the property to your name with a quitclaim deed. You need to go to a notary public, sign the quitclaim deed. After signing the deed you must then take it to the county recorder's office at the court house to get it recorded. That is legal and the least expensive way to do it.
The best way to accomplish this is calling a title company setting up an appointment, going to their office and signing the deed in front of their notary. After you sign the deed they will insure that the deed is recorded at the ...(Answered by Skip) |
|
|
| View Entire Answer | Report Abuse | See it in Y! |
what is wrong with NYC section 8 program ?
I was an tranfer section 8. I tranfer from an other state was unable to find apartment because the landlord or owners didn't want to rent section 8 tenants. I have had my section 8 for over 20 yrs. then i come to nyc to find apartment and lose my section 8. I am trying to appeal my situation to be port back to where I am from. I would like know if anyone knows who or where I can get this kind of information. thank-you!
... (Asked by b4realnvme)
|
 |
| View Entire Question | Report Abuse | Similar Questions | See it in Y! |
| A. |
|
There is nothing wrong with NYC Section 8. All the housing projects accept it.
Did you use the subsidized housing search to find an apartment?
http://www.hud.gov/apps/section8/step2.cfm?state=NY%2CNew+York
Most private NYC landlords will not take a new tenant with Section 8. Existing, they have to, but for a new tenant, they just don't want to deal with the additional work....(Answered by ILoveKeyLimePie) |
|
|
| View Entire Answer | Report Abuse | See it in Y! |
Who has rights to the deed and land?
My mother parents names are on a deed for land in Florida. My uncle is name as the step-son on the deed as well. He was paying the taxes on it since forever. Before he died, I ask him if I could pay half on the taxes so I could put a house on the land. Of cousre he said yes. Four month later he died. I made the same agreement with the executor of his estate (his oldest daughter) she said yes as well as long as I don't sell the land.
I paid the taxes for 3 years. I ... (Asked by worldcls238)
|
|
| View Entire Question | Report Abuse | Similar Questions | See it in Y! |
| A. |
|
fIRST OF ALL, IT DEPENDS ON WHAT YOUR MOTHER'S PARENTS LEFT IN THEIR WILL. DID THEY LEAVE THAT LAND TO YOUR MOTHER? IF SO, THEN IT IS PARTLY YOUR MOTHERS. IF NOT, THEN IT GOES TO WHOMEVER IS LISTED IN YOUR UNCLE'S WILL. YOU NEED TO HIRE AN ATTORNEY TO LOOK INTO YOUR MOTHER'S WILL AND TO FIND OUT ABOUT YOUR UNCLE'S WILL. I NEED MORE INFORMATION THAN WHAT YOU ARE PROVIDING TO HELP YOU....(Answered by country m@m@ luvs you!) |
|
|
| View Entire Answer | Report Abuse | See it in Y! |
| Note: We are not affiliated with Yahoo! Answers in any way. All the content is retrieved from Yahoo! Answers. We are not responsible for the content. For more information, please see the term of service. The above content was retrieved on September 23 2009 18:47:55.from Yahoo! Answers (Category Home > Business & Finance > Renting & Real Estate). We are neither affiliated with the authors of this page nor responsible for its content. The data may have changed since that time. Click here to search real time questions/answers from Yahoo! Answers. |
|
