Hi
This is an odd situation. My wife and two of her siblings with their parents are on the title of the primary residence of their parents house (which the father has just passed away) and it’s owned in equal shares. The parents paid off the mortgage: and the siblings were under the impression that they were just guarantors to the bank.
How is this going to affect them once the mother passes away with capital Gain Taxes? Should they be removed from the title now ?
What’s the best solution.?
Any help would be appreciated.
Don
This reply was modified 8 years, 6 months ago by Don.
Terry,you raise some very important issues about transactions,deposits,contracts,rent,ect ect…
I’m not sure how to go about;as i don’t have any esperience.
I hope that you can help me,becouse i’m thinking to come and get legal advice at your office.
But before i do that,can you reccomend me some book or website were i can get a bit of imformation first,
at least i can familiarize with the language and trade terms,that way the advice will make more sense.
Hi Terryw,
thank you for your fast reply.
Primarily i’m concern with possible litigation with tenants or litigation in general,
but also; as i want to pass on the properties to my kids in my will,
how can i protect them from loosing some of the properties if they have a divorce?
i appreciate your help.
Don