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What happens when trust states a parents home on one child's property will be left to that child after his sibling is given an amount of money but the first child sells the property before parent dies?
Wiki User
∙ 14y ago
You have a difficult situation. Once a home is built it becomes part of the real estate. It cannot be owned separately nor can it be left separately in a will or trust. The owner of the real estate has the right to sell that real estate. The house went with it. You cannot receive money for the house unless your parent and the owner of the real estate has a written agreement to that effect. Also, you have absolutely no right to any property devised to you in your parent's will or trust until they have died. If they no longer own the property when they die, the gift is extinguished.
Wiki User
∙ 14y ago
If the trust clearly states that the property will be left to one child, then the first child has the legal right to sell the property as the owner. It is important to review the trust documents and consult with a legal professional to determine if any provisions or conditions were violated by selling the property before the parent's passing.
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If a sibling fails to contribute their share of the property taxes on an inherited property can they lose their interest in the property?
If a sibling fails to contribute to property taxes on an inherited property, they may not automatically lose their interest in the property. However, it can lead to conflict with other co-owners and potential legal actions to resolve the issue. It's recommended to address these matters through communication, negotiation, or legal intervention if necessary.
Are there taxes on sale of an inherited property in Pennsylvania?
In Pennsylvania, there is no state inheritance tax on the sale of inherited property. However, capital gains tax may apply if the property is sold for a profit. It is recommended to consult with a tax professional for guidance specific to your situation.
What is the semiannual property tax bill?
The semiannual property tax bill is a bill that property owners receive twice a year, typically in two installments, to pay for property taxes. This bill helps fund local government services such as schools, police, fire departments, and infrastructure maintenance. The amount of property tax owed is based on the assessed value of the property and the applicable tax rate.
Does paying property taxes on a home in a district qualify you for residency?
Paying property taxes on a home in a district does not automatically qualify you for residency. Residency requirements typically involve factors such as the amount of time spent living in a location and intentions to make it a permanent residence. Property ownership is just one component of establishing residency.
What are the average property taxes in San Joaquin county California?
The average property taxes in San Joaquin County, California, are around 1.14% of a property's assessed value. The exact amount can vary based on the specific location and the assessed value of the property. It is recommended to check with the county assessor's office for an accurate estimate.
Can a sibling force the other sibling to pay them money if their parents died and only one stayed home and continued to pay mortgage for years after the other left?
If your surviving parent died intestate (without making a will) without leaving their home to you then their estate must be probated in order for title to the property to pass to the heirs. I am assuming your parents owned the property as joint tenants with the right of survivorship and after the first parent died their interest passed automatically to the surviving spouse. Intestate property passes according to the laws in the state where the property is located. You should collect and make copies of proof all mortage payments you made. You should also collect and make copies of all the property tax, insurance and repairs you have paid for. Your sibling is probably legally entitled to one half of the value of the property. Your lawyer should seek to charge off one half of every bill you have paid to maintain the property against your sibling's half in order to reduce the amount you will need to buy her interest and obtain clear title to the property. Perhaps the full amount of the mortgage payments could be deducted from your sibling's half. You should contact an attorney to discuss your rights, your options and how to arrange to have the title transferred to you legally.
What happens to the density of a given substance if you increase the amount of substance that you have?
No change: Density is a property of the substance (physical property), which is not changed by the amount of substance.
What if you sell your share of inheritance of real property to a sibling?
You document it as with any other sale of real property. Normally a Quit Claim deed would be executed. It would specify the amount paid and the release of any claim you might have on that property in exchange. Consult a probate attorney in your area for specifics.
What happens to a tax lien on a property lost in foreclosure?
Tax liens are not wiped out by a foreclosure. They must be paid in order to clear the title to the property so that it can be sold. If the lender has to pay them it will add that amount to the amount you owe.
What happens to the specific heat of a material if mass is doubled?
There is no change; specific heat is an intensive property of a material, independent of the amount.
What is a physical property that does not change with the amount matter?
dd What is physical property that does not change with the amount of matter?
What is a physical property that not change with the amount of matter?
dd What is physical property that does not change with the amount of matter?
If a sibling fails to contribute their share of the property taxes on an inherited property can they lose their interest in the property?
If a sibling fails to contribute to property taxes on an inherited property, they may not automatically lose their interest in the property. However, it can lead to conflict with other co-owners and potential legal actions to resolve the issue. It's recommended to address these matters through communication, negotiation, or legal intervention if necessary.
Is density an intensive property or extensive property?
Intensive because it doesn't depend on the amount of material.
What type of property dependent on the amount of matter?
Colligative Properties
Which property of matter depends on the amount of matter present?
Extrinsic Physical Property. <-- Physical Science Bookwork in Nova Net.
How much do you need to owe the state of california before they place a lien on your property?
The state can record a lien against your property for any amount you owe.The state can record a lien against your property for any amount you owe.The state can record a lien against your property for any amount you owe.The state can record a lien against your property for any amount you owe.
