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The limits for the gift of equity when transferring property ownership depend on the lender's guidelines and the amount of equity being gifted. It is important to consult with a real estate professional or lender to understand the specific limits in your situation.
What else can I help you with?
What are the differences between a jumbo loan and a second mortgage?
A jumbo loan is a type of mortgage that exceeds the limits set by government-sponsored entities, while a second mortgage is an additional loan taken out on a property that already has a primary mortgage. Jumbo loans are typically used for high-priced properties, while second mortgages are used to access the equity in a property.
What does ''Land fee' mean in real estate ads?
A homeowner with fee simple ownership has complete enjoyment of the house, including the land and any buildings that might be built on it. Just zoning codes, deed or subdivision limits, and covenants limit it.
Does the co-op board have to approve a shareholder's request for a home equity loan?
Yes. But in practice, the Board delegates such powers to the operating personnel with limits in place.
What are the guidelines for claiming a property tax write off in California?
To claim a property tax write-off in California, you must own the property and pay property taxes on it. You can deduct the amount you paid in property taxes on your federal income tax return, but there are limits on the total amount you can deduct. It's important to keep records of your property tax payments and consult with a tax professional for specific guidance.
Where can one find more information on FHA loan limits?
FHA loan lending limits vary depending on the housing type as well as the state and county where the property is located. Full details can be found for each state/county on the FHA website.
What is the private property?
A property that is off limits
What is the privateer?
A property that is off limits
Write short note on freehold building?
A freehold building refers to a property that is owned outright by an individual or entity, granting them complete control over the building and the land it occupies. This type of ownership typically means there are no time limits on the duration of ownership, unlike leasehold properties, which have a fixed term. Freehold owners are responsible for all maintenance, taxes, and regulations pertaining to the property. This form of ownership is often seen as more desirable due to the permanence and autonomy it provides.
How do you get a court order for return of property from roommate?
To obtain a court order for the return of property from a roommate, you typically need to file a small claims court case if the value of the property is within the court's limits. Begin by gathering evidence of ownership and any agreements regarding the property. Complete the necessary court forms, serve your roommate with a copy of the complaint, and attend the court hearing. If the court rules in your favor, they will issue an order for your roommate to return the property.
Can your refinance if you don't have the equity in the house?
It may be possible to refinance your home if you do not have equity. I have done many of these loans. There are currently programs for both Freddie Mac and Fannie Mae that will allow you to refinance even if there is not equity. There are Loan to Value limits, but they are well over 100%.
Is there an asset limit on a 60K Calif bankruptcy without penalty?
Yes, there are exemption limits on various goods/property. If you good/property is above that amount you will need to "pay" the difference to the BK trustee or else lose that good/property. The exemption limits can cary based on your state and whether it allows federal exemption limits.
What are the differences between a jumbo loan and a second mortgage?
A jumbo loan is a type of mortgage that exceeds the limits set by government-sponsored entities, while a second mortgage is an additional loan taken out on a property that already has a primary mortgage. Jumbo loans are typically used for high-priced properties, while second mortgages are used to access the equity in a property.
What are the limits to private property rights?
Way too broad of a question!
Can the wife buy husband property?
Yes it could be a gift. There are no limits to gifts.
Which is not a public assembly that has limits placed upon the event?
Private property displays
Is not a public assembly that has limits placed upon the event?
Private property displays
What are the lowest home equity limits for taking out HELOC loans?
Most banks want to have at least $30,000 of equity built up in order for them to give you the home equity loan for your home. The market is always changing so the rates could change at any time depending on the current conditions of the market.
