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Q: What taxes have to be paid in a home sale in California if the home has been a primary residence to the owner for at least 24 months?
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Once everything is filed with the court, a California divorce takes about six months before you are divorced. If the divorcing couple is living together, a divorce is filed in the California Superior Court in the county of residence of either spouse. One spouse must have lived in California for at least 6 months prior to the divorce and in the specific county for at least 3 months.


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If one owns the 1st home as the primary home and owns a 2nd home for family to live in - can the 2nd home still be considered as a primary residency home and not an investment property?

simple answer is no. The home can be considered as a second home if it is at least 50 miles from the primary residence. Otherwise it has to be treated as a investment.


Why California's location in the pacific basin is important?

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What is residential tax abatement?

A residential tax abatement typically refers to a type of homestead exemption. In many states in the United States (but not all) a property owner's primary residence (you can't have more than one primary residence and you need to occupy the home at least so many months each year) can qualify for either a reduced real estate assessment or reduced property taxes. In some states you need to be 65 or over to qualify, so be sure to check with your local assessor or tax collector about the specific qualifications for the abatement you are seeking.


California divorce laws?

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Can you change your name in Illinois if you were born in CAlifornia?

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Does second home have to be 50 miles away from primary residence?

Per Fannie MAe and Freddie Mac Guidelines a second home has to be at least 50 miles from the borrower's primary residence. If the primary residence is close to a coastal region I believe the underwriter could make an acception, but I'm not entirely sure about that. For more information on underwriting guidelines visit www.fanniemae.com or www.freddiemac.com Once there you can navigate to a PDF version of the underwriting guidelines (a typical loan is called a C30). Once you open it up in Adobe Reader you can type a word or words in the "Find" box and it will jump to the subject you are looking for that way you don't have to skim through all 130 pages.


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Have you been lawfully admitted to your country of residence for period of at least 1 year?

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