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  • Profile photo of Dr0pB3arDr0pB3ar
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    @dr0pb3ar
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    June 17, 2013 - 8:54 am

    Okay, Thanks again for you help on this Terry

    Profile photo of Dr0pB3arDr0pB3ar
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    @dr0pb3ar
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    June 16, 2013 - 2:25 pm

    Hi Terry,

    Sorry for all of the questions, but what do you mean by

    Terryw wrote:
    Solicitor – legal questions.

    If you would be buying out the sister you would be using the house as security. Also consider deductibiliy of interest questions.

    And

    Terryw wrote:
    Solicitor – legal questions.

    Depending on the terms of the will the sister may renounce her interest possibly. Possibly other ways too!

    Hopefully this will be the end of all the questions. I really appreciate your help,

    Cheers,

    Profile photo of Dr0pB3arDr0pB3ar
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    @dr0pb3ar
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    June 16, 2013 - 8:02 am

    Thanks very much Terry,

    Would these be questions for a Lawyer, Accountant of both?

    The intent would be to buy out my wife's sister. So in regards to point 1, we would be borrowing the full value of the house (approx) whilst using my wife's share which is half of the house's value as security.

    Would it be possible then to set up a legal document where we pay my wife sister a fixed amount (approx half of the house value) to forfeit her share in the estate, which then makes the house transfer an "inheritance" rather than a "purchase".

    Cheers,

    Profile photo of Dr0pB3arDr0pB3ar
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    @dr0pb3ar
    Join Date: 2012
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    June 3, 2013 - 12:27 pm

    Hi,

    I am currently doing the course now. The course is broken down in to 65 sessions which are each a pretty solid read. You could comfortably finish one session a week with maybe a few hours. If you want to get the most out of it (which of course should be the case), it's going to be more involved then just reading the session. I always end up spending hours after each session googling things that popped into my mind.

    Long story short, there is NO DOUBT in my mind that I will gain the cost of the course back many times over… If not in the first deal I make.

    Hope that helps.

    Profile photo of Dr0pB3arDr0pB3ar
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    @dr0pb3ar
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    June 2, 2013 - 4:12 pm

    I'm not over 60 :(

    Thanks for the info Terry!

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