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What else can I help you with?
What is the 1031 tax deferred exchange?
In the regular sale of a property the owner is taxed. However, Section 1031 allows a person to sell their property and defer paying capital gain taxes by purchasing a replacement property. This allows the person to keep 100% of their money. Otherwise, the person would lose one-third of their funds to taxes.
Can you be on title of a property that someone else is purchasing if you filed for bankruptcy?
Yes- but you would need the court's permission to sell the property- since it would be considered part of the bk estate.
Are you interested in purchasing a property directly from the owner, or would you prefer to work with a buyer agent?
Are you interested in buying a property directly from the owner, or would you rather work with a buyer agent?
Does owning a condo allow tax benefits?
Owning any property will offer a tax benefit. There a differences in the benefits you would get for a condominium that you are living in versus one that you are purchasing to rent or lease to another person, but there are benefits for both.
What do you call a person from the Caribbean like people from Canada are Canadian from America are American from Mexico are Mexican..... are they Caribbean?
Most often peoples from the Caribbean are referred to by their country within the Caribbean or their ethnic group, for example Dominican or Carib, respectively. If you must refer to a person by the entire Caribbean region then I would use 'Caribbean people(s)'.
If a person dies and another person pays taxes on there property does that person have the full right of that property or land?
Absolutely not. That person would be a volunteer, having paid the taxes on property they don't own. Paying the property taxes does not bestow legal title. You would need to obtain title from the heirs or from the town after the town takes possession of the property by tax title foreclosure.
With joint tenancy ownership of a personal residence can one person legally list the property for sale without the other?
You cannot list the property for sale without clearly indicating that you are trying to sell only a one-half interest. You would have a problem finding a buyer interested in purchasing a one-half interest in the property that will be shared with your present co-owner.
Is purchasing foreclosed property a good way to invest in possible rental property?
it all depends on the property itself. If the property was run down and didn't look like it would make you any money there would be no point. If the property was in a nice location and nicely decorated and would attract people to rent it then its a sure fire way of getting a little extra cash in your pocket.
Can a person who has been using a piece of property for nine years that belongs to another person say that it is theirs?
Answer: A person cannot make an adverse claim on property if they had the owner's permission to occupy it. The nature of your use of the property would need to be ascertained.
How many deeds can you have on a property?
One or more depending on how the property was acquired by the owners. A person could convey a half interest to their partner. In that case there would be two deeds to the property. By another method a person could convey the property to self and a partner. In that case there would be one new deed for the property. A title examination will determine the current owner(s) of the property.
Can a daughter inherit the property of the person who married her widowed mother?
If that person had legally adopted the daughter then she would be his legal heir. Otherwise the only way she could inherit his property would be by his will and she would not be considered as next of kin if he died intestate.
Will a will override a trust?
A person's will is intended to direct the distribution of their property after their death. Sometimes a person's assets change during life. If a person transferred property to a trust during his life that property would not become part of his estate unless some provision in the trust directed that the property should pass to the estate. Therefore a trust would "override a will" if the property mentioned in the will had already been transferred to a trust during the life of the testator.
