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Earth is not a gift from your parents it s a loan from your children?
Wiki User
∙ 12y ago
All the quote is trying to say is that you should take care of the planet so that it is just as nice or nicer for your kids when they are here. Don't abuse the planet as if it is yours, but take care of it so your children can enjoy it.
Wiki User
∙ 12y ago
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Can parents gift 150000 or 50 percent of cost of home to children to buy a home?
This will depend on the loan program. In the case of FHA you can still receive the gift of equity from a relative.
Is there a tax on a loan from parent to child?
Loan proceeds are not taxable, if your parents loaned you money and then decided to forgive the debt that wouldn't be taxable either (it's a gift). If you are paying your parents interest on the loan that interest is taxable income to your parents.
Can a parent plus loan be put in the student's name instead of the parent's?
A parent plus loan is exactally that. A loan for parents to help their children with college expenses and can only be given to parents under the parent's name. You also need to begin to repay that loan while your child is still in school, usually within 60 days.
Are surviving children in the state of Florida responsible for their deceased parents debts as a mortgage loan if the house was left in their will?
The house would have been left subject to the loan. Either the estate has to pay off the loan or sell the house. Once that is done, then the assets can be distributed. One of the children could obtain a loan and buy the house from the estate.
Can your parents get a loan if they have a loan that they already owe on?
yesss
Can you transfer a loan that your parents took out into a loan in your name?
No.
Can you get a student loan if one of your parents is in default on their student loan?
Yes.
What if you owed your parents money and they die and other children want to collect?
The estate has the right to collect. If there is documentation, they may offset the loan against your inheritance.
Opposite of gift?
Any acquisition that has a cost is not a gift. The opposite could be a purchase or trade.
Are your parents responsible for your student loan?
If it was taken out before you were 18, it's your parents. After that, it depends on the kind of student loan, and who signed the papers.
What are principal and interest on a loan?
Principal is the amount you borrowed and interest is the money you give them as a 'gift' for letting you loan their money.
If transaction has already occurred and someone is stating that the money loaned was a gift how do you prove that it was a loan only?
* Unless you have a contract of sorts stating this was a loan and a date, the amount of the loan and this person's signature along with your signature on it you can't prove this is a loan and not a gift as it would hearsay only. Without the contract, sorry but you are out the money.
