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Can liquid assets vehicles and property deeds be transferred to family members before a foreclosure?
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Sure, you can give away anything that you want. But recognize that if it's too blatant and within 2 years of death, the IRS may consider it to be a method of avoiding medical expenses and inheritence taxes and go after much of the property that was transferred. Instead of "Giving" a car away, write a contract that sells the vehicle "for $1.00 and other considerations". Such a sales contract is valid and there is no way to trace back what the "other considerations" were. * Foreclosure is against property that is been used to secure a loan, either mortgage, home equity, etc. There are not laws or taxation penalties that relate to the transferring of property from one relative to another, only tax penalties if the property is sold for less than the fair market value or if applicable appreciation of the value of property. Any property transferred or otherwise desposed of with the intention of protecting it from creditors can be viewed as a "fraudulent conveyance" depending upon the specific circumstances.
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Can the executrix collect her admisitrative fees from inherited property that was deeded to heirs prior to death?
Generally, no. If the decedent transferred real property prior to death and the deed was recorded at the time of the transfer, it was not part of the estate when she died.You should note, however, that you referred to the property as "inherited property" in your question. The executor has control over all "inherited property". If the property was transferred to family members prior to death then it was not "inherited".You should discuss this matter with the attorney who is handling the estate.Generally, no. If the decedent transferred real property prior to death and the deed was recorded at the time of the transfer, it was not part of the estate when she died.You should note, however, that you referred to the property as "inherited property" in your question. The executor has control over all "inherited property". If the property was transferred to family members prior to death then it was not "inherited".You should discuss this matter with the attorney who is handling the estate.Generally, no. If the decedent transferred real property prior to death and the deed was recorded at the time of the transfer, it was not part of the estate when she died.You should note, however, that you referred to the property as "inherited property" in your question. The executor has control over all "inherited property". If the property was transferred to family members prior to death then it was not "inherited".You should discuss this matter with the attorney who is handling the estate.Generally, no. If the decedent transferred real property prior to death and the deed was recorded at the time of the transfer, it was not part of the estate when she died.You should note, however, that you referred to the property as "inherited property" in your question. The executor has control over all "inherited property". If the property was transferred to family members prior to death then it was not "inherited".You should discuss this matter with the attorney who is handling the estate.
Can inherited property be sold to nonfamily members?
Yes, the estate can sell the property to non-family members.
What do members of a family have in common?
they almost have the same property -erick
What do members of a kibbutz share?
Work, personal belongings, and property
Does the Mormon church pay property taxes for their poor elderly members to gain the property later?
No. The Church of Jesus Christ of Latter-day Saints (the "Mormon" church) does give financial assistance to needy members, but paying someone's property taxes does not mean that you own their property or have any rights to it whatsoever.
What program allows members of vMTV to design their own clothes items and vehicles?
the developer program
If the deed to a property is recorded jointly and one of the owners dies can family members of the decedent claim the decedents share of the property?
No. If the property was acquired as joint tenants with the right of survivorship and one dies, their interest passes automatically to the survivor by law. There is nothing for family members to claim.
Explaining the Quitclaim Deed?
A quitclaim deed is a legal document used to transfer ownership of a property without any guarantee of title. It simply means that the person transferring the property is giving up their claim to it, without promising that they have clear ownership. This type of deed is often used in situations like a divorce, between family members, or to clear up any potential issues with the title.
Our house is being foreclosed in Michigan can other property owned with a tenancy in common with family members free and clear have a lien put on it as a result of our foreclosure?
Yes, it is not unusual for a lender to seek additional security, in the form of a lien on other land or personal property, once you're in default on the original agreement. If the auction goes badly, they don't want to be left without payment of the outstanding balance. As a tenant in common, you have a separate ownership interest that can be attached and liquidated.
What members of the Athenian society could not be part of the government?
The Farmers that owned property
What are the greatest impacts of tornadoes on humanity?
Damage of property and death of family members
What' members of Athenian society could not be part of the government?
The Farmers that owned property
