When United Kingdom voters decided to leave the European Union, they started a domino effect that should make it easier to sell inherited property in faraway New Hampshire. The ripples of instability the vote created sent nervous investors to U.S. Treasurys like a moth to a flame, and there is a discernable, albeit imperfect,...
READ MORE
All the people who claim to be Prince’s heirs must provide sworn testimony to support their claims, according to a Carver County, Minnesota district judge. The judge’s order requires prospective heirs to file an affidavit that answers a number of personal questions and provide a birth certificate copy. The trust company handling the estate...
READ MORE
Previous posts covered selling to an investor, selling via an auction and selling on your own (for sale by owner). Today, I want to share information with you on selling with a real estate agent. This is the most common way to sell real estate. After signing an agreement with the agent, he or...
READ MORE
Earlier posts have covered selling via an auction, and selling on your own (for sale by owner). Today, I want to share information with you on selling to an investor. This is the method to choose if you are in a hurry to sell and you will walk away with hard cash after the...
READ MORE
It is almost impossible for inherited property to qualify for the $250,000/$500,000 tax exclusion. However, with careful planning, sellers can take advantage of other tax loopholes and save thousands of dollars. IRS rules reduce the reportable capital gain from real estate transactions by $250,000 for individuals or $500,000 for married couples filing a joint...
READ MORE
No one is really sure who came up with the proverb “a stitch in time saves nine,” but the saying first appeared in eighteenth century England. The proverb is definitely meant to spur the lazy into action, because it is an anagram for “this is meant as incentive.” Most people agree with this maxim,...
READ MORE
An earlier blog post covered selling a property via an auction. This post covers selling a property on your own. This process is just as it sounds. You do the legwork and there is potential to save money if you do everything correctly. I stress potential to save money because people don’t know what...
READ MORE
Occasionally, despite the best efforts of everyone involved, the heirs cannot agree how to dispose of property. In most of these situations, there are an even number of joint heirs to a piece of unimproved real property and they each have an equal share, so there is no effective way to break a tie....
READ MORE
Probate is a formal public legal process via which the assets of the individual are distributed following a person’s death, in accordance to their will. The probate process starts with filing the will, petition and death certificate. Usually, the general public has access to these documents. Thus starts a process that involves the filing...
READ MORE
If you’ve inherited property or one has been assigned to you as Executor of the Estate, you now have a big responsibility. While some of the selling options will feel familiar to you if you have ever bought or sold a property, there are nuances with respect to these types of properties in particular. Educate...
READ MORE