Providing mortgage payments on a property is not the same as revising the Deed for a property, and it is a Deed that designates ownership. [ Read More... →]
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If I Made Mortgage Payments on My Parents’ House, Does a Will Still Divide Ownership Equally Among All Siblings?
If a tenant has been evicted legally and has removed (or been given access to remove) all personal property, there is no reason for the tenant to re-enter the property again; to do so is trespassing by the evicted tenant. [ Read More... →]
Lease Agreement Questions · July 19th, 2014
In most states, evidence of the death of a joint owner on a Survivorship Deed (i.e. a certified copy of a death certificate) must be filed with the county records office, along with an affidavit or other sworn statement indicating that the surviving joint owner is the sole survivor and now sole owner of the property. [ Read More... →]
Quitclaim and Warranty Deed Questions · July 18th, 2014
A Last Will and Testament does not transfer property or assets until after the death of the maker of that Will.
But a person who is named Attorney-in-Fact by a Power of Attorney document can manage the assets of a Principal, so long as ‘best interest’ is applied. [ Read More... →]
Last Will and Testament Questions · July 16th, 2014
Many states have laws that prevent one spouse from disinheriting another spouse within a Last Will and Testament. As such, it may be wise to wait until the Divorce proceedings are finalized to create a new Last Will and Testament. [ Read More... →]
Personal credit card debt incurred to pay business obligations can be discharged as part of a personal Chapter 7 bankruptcy. But the Bankruptcy Trustee would have the right to review the business records of the LLC to determine whether the debtor’s ownership interest in the LLC has value that can be used to pay the debtor’s personal creditors through the bankruptcy case. [ Read More... →]
Bankruptcy Questions · July 14th, 2014
In most cases, an “emergency” petition can be filed with the clerk of the bankruptcy court (commonly referred to as a “skeleton petition” or “skeleton case”) using a portion of the forms required for the complete filing. [ Read More... →]
Bankruptcy Questions · July 7th, 2014
Typically, the words ‘per stirpes’ or ‘per capita’ are used directly within the language of a well-written Last Will & Testament document. [ Read More... →]
Last Will and Testament Questions · June 23rd, 2014
The term ‘holding company’ is merely a designation for a for-profit entity whose sole or nearly exclusive purpose is to own property. [ Read More... →]
The nature of a debt and the existence of collateral determine which schedule should be used when filing for personal Bankruptcy. [ Read More... →]
Bankruptcy Questions · June 11th, 2014
The Trust document will describe how the Trust property is managed and eventually distributed. [ Read More... →]
Living Trust Questions · May 30th, 2014
To split an existing real estate parcel for transfer to new owners, the new parcels must first be created legally. [ Read More... →]
Quitclaim and Warranty Deed Questions · May 23rd, 2014
In most states, upon Divorce the law treats a former spouse as if he or she died before the Testator, i.e. the person making the Will.
But typically the remainder of the Will continues to be effective.
So generally, a former spouse of a Joint Will is treated as deceased and the children named in the Will remain as beneficiaries.
But not always. [ Read More... →]
An apartment or home rental contract is just that: a contract. The language within any contract can be negotiated to agreement by both parties, the tenant and the landlord. [ Read More... →]
Lease Agreement Questions · May 16th, 2014
Yes, for a married couple with individual Last Will and Testament documents, the Will of the first spouse to pass must be Probated.
Once Probate is completed on that spouse’s Will, only the remaining Will document would still be in force.
Last Will and Testament Questions · May 14th, 2014
In a personal Bankruptcy filing, the debtor is to choose whether or not a presumption of abuse arises based upon the income of the debtor in comparison to the appropriate state median income level. [ Read More... →]
Bankruptcy Questions · May 2nd, 2014
A Beneficiary Deed is a transfer-on-death instrument. That means when this form of Deed is used in conjunction with a Last Will and Testament, probate is avoided. [ Read More... →]
Banks do not accept a Last Will and Testament document as proof to provide access to funds in an account for obvious reasons. [ Read More... →]
Last Will and Testament Questions · April 15th, 2014
A third party can be named in a lawsuit for just about any reason, as including a party requires no more than adding a name to paper. [ Read More... →]
Land Contract Questions · April 9th, 2014
If a real estate property has been properly assigned via Quitclaim Deed to any other person, that property is no longer an asset of the person who gave it away. [ Read More... →]