No they dont,it is an easy way to get out of playing street repairs.
it means if you have any hoses or hotels, you have to pay the bank(monopoly bank)the fee on the card.
Its your $$$ now !!! you can do with it what you want. * If the home is not still under a mortgage contract the homeowner is not obligated to use insurance funds for repairs of the property. However, if repairs are not done the insurance provider can refuse any claim if the flooring or adjoining structure is damaged further. If the home is still mortgaged repairs must be made as the lender would have to sign the insurance check as well as the homeowner/borrower. All mortgage contracts stipulate that the property must be kept in the same or better condition as it was when the property was purchased and lending agreement made. You could BUT that would be called insurance fraud... Lis@
The executor is responsible for maintaining the value of the estate. That includes insuring that repairs and maintenance are done on the property. Until the property is transferred to the inheritor, it is the responsibility of the estate.
Answer You only pay for your own properties - all. The price escalates when you have houses/ hotels for repairs
That issue should be addressed in the contract.
The home owner is responsible for repairs to the property. Depending on the amount available under the reverse mortgage, funds from the reverse loan may be available to make those repairs.
No. The buyer has no authority to place a lien on the property and no cause of action for which to sue.
Yes. The trustee must sign the mortgage as the owner of the property.
Painting can be considered as repairs and maintenance as it is part of maintaining the property.
yes. along with repairs to the property.
The person who is entitled to property depreciaiton after repairs between the owner and contractor is the owner. The contractor comes in to fix things and if he doesn't do it right, he can be sued. But if the work was done right, the owner is responsible.
Repairs, such as repainting the residential rental property, are currently deductible expenses. A repair keeps your property in good operating condition. It does not materially add to the value of your property or substantially prolong its life. Repainting your property inside or out, fixing gutters or floors, fixing leaks, plastering, and replacing broken windows are examples of repairs. If you make repairs as part of an extensive remodeling or restoration of your property, the whole job is an improvement. In that case, you should capitalize and depreciate the repair costs as the same class of property that you have restored or remodeled as discussed above. For more information, refer to Publication 527, Residential Rental Property, and Publication 946, How to Depreciate Property.