Friday, March 17, 2017

Q&A about PA real estate laws

Q: I own a home in Albrightsville PA, I have a closing this Friday.

I own a home in Albrightsville PA, I have a closing this Friday 3/10/17. I am married and the home is under my name, now I am selling the home. The buyers title company wants my wife to sign a release form that must be notarized saying she has no interest in the home. The title company is telling me that this is a State law. Do I need to get my wife to sign this form?
Lawyer Answer Brian Lehman

A: Ask them for the statute that requires this. They may be doing it to be super cautious. If your wife does not have an interest, I don't see a problem with her saying she does not.

Q: How do you remove someone of a house deed who has never paid for, or lived in the property in question?

My grandmother owns her home, but her daughter is on the deed. Has been for many years, and it is still unclear as to how she ended up on the deed. I would like some help on what steps we need to make to take her name off the deed.
Lawyer Answer Dr Kenneth V Zichi J.D.

A: Without seeing the paperwork it is impossible to say for sure what should be done here. Is this 'joint' ownership? 'tenants in common'? a 'ladybird' deed? Each results in a different answer of what to do next, and it is not always OBVIOUS what the form of 'having her name on it' things are without reviewing the whole deed. I'd strongly urge your grandmother to seek out a local real estate lawyer to review things, and explain to her what needs to be done to change things. WORST case scenario may be her daughter needs to sign off on the deed. She really does need to seek out a local lawyer to review this!

Q: How do you remove someone of a house title who lived in the property in question, or has never paid for?

Her home is owned by my grandmother, but her daughter is about the deed. Has been for a long time, which is still unsure as to how she ended up on the deed. I'd like some help about what measures we should make to take her name off the title.
Attorney Answer Dr Kenneth V Zichi J.D.

A: Without seeing the paperwork it's impossible to say what should be performed here. Is this 'shared' possession? 'tenants in common'? a 'ladybird' deed? Each results of what to do next in another answer, and it is not necessarily CLEAR what the kind of 'having her name on it' things are without reviewing the title that is whole. I had strongly urge your grandmother to find out a local real estate lawyer describe to her what must be done to alter things, and to examine things. WORST case scenario might be her daughter needs to sign off on the deed. She really does need to seek a local attorney to examine this out!

Q: Is there any strategy to get rid of a restricted life estate clause from a title with no person agreeing to take outside it?

My boyfriend and that I purchased our house from my boyfriend's parents. Only MY name is around the Mortgage. Ahead of the sale, we discussed them living in your house with us. We talked to your lawyer (who also owned the title business doing the close), he said he was planning to draft papers concerning the conditions of these living with us. Nevertheless, during closing, the title agent did not bring any added documents, she "hand wrote in" a small life estate clause into the deed. She never clarified what the risks were or what it meant for us. After the closure, we questioned why it had been done this way, and all she said was "do not stress it can always be taken out afterwards". She said we had to sign the 2nd copy also, which we did and then retyped the title. It's now two years afterwards, our living arrangement isn't working out and wewant to know if there is a way to really have it "taken out" like the title agent said, without his parents having to concur?
Lawyer Answer Mark Scoblionko

A: It makes no sense the title would take the names of both you as well as your boyfriend, even though it's not relevant to your own question, but the mortgage is just in your name. For a mortgage to be valid, it has to be do by everyone whose names are around the deed. It is possible for the note that accompanied the mortgage to be entirely in your name, even if both names are contained by the mortgage, if you're the one borrower for the transaction. You might be confusing mortgage and the note. With respect to your question, it might be replied only if the document is really reviewed by an attorney. Nonetheless, as a general proposition, unless the deed provides that the life estate is revocable, you'd require the consent and involvement of your boyfriend's parents to revoke it.

Q: My stepson's Mum died. No Will. A decrepit property is in her name. Is he legally responsible with this area ?

He is her only survivor. That is a 20,000.00 mortgage on the place and it is not worth more than a few thousand.
Lawyer Reply Dr Kenneth V Zichi J.D.

A: Your son MAY inherit the property and if he does, he'd be required to settle the mortgage (or renegotiate it). In the event the property is so far 'underwater' that it makes no sense to attempt to save it, then the top option is to do nothing. Before she passed, by doing nothing, your son isn't going to become responsible for the debt or any debts of his mom. You can not be compelled to pay the bills of someone else unless you've consented to 'guarantee' them or co-signed etc. that were Brief reply, if he doesn't want the house, he's not responsible for the debt. He additionally isn't REQUIRED to start probate -- her creditors can do that if needed. Questions? Seek local legal assistance from a lawyer who practices in probate. He may suggest beginning NOT beginning probate, probate, or some third choice.

Q: Dad my brother &I owned property as joint tenants,my dad died in 1995. We now want to change to tenants in common,how?

I need to produce a quit claim deed transferring the home from my brother and that I as joint tenants as tenants in common to us, however do not know if I need to file an affidavit of some form to remove our dads name from the original title. If there needs to be some kind of thought, I additionally do not understand.
Lawyer Reply Mark Scoblionko

A: A brand new deed would be prepared, referencing the reality that the dad has expired, and conveying the home from you along with your brother as your brother as tenants in common plus joint tenants for you. You are able to simply recite "one dollar" consideration. So long as there isn't any mortgage or alternative lien contrary to the home, it ought to be pretty simple, but although you needs to possess a lawyer do the new deed for you. You'd likely need the permission of the bank, which you are not likely to get, if there exists a mortgage contrary to the home.

–°lick

Q: Can we sell the home without any penalties?

We bought my mother in law's home in 2013. We were living with her 2 years at the time when we purchased the home. She had no mortgage. We paid her $100,000 (mortgage). We would like to sell the home and move to a smaller property. Is there any penalties if we were to sell it this year?
Lawyer Answer Peter Munsing

A: If you had it titled in your name no. However you would have to pay off the balance of the mortgage on sale.

Q: My brother,dad&I owned property as joint tenants,my dad died in 1995. We now want to change to tenants in common,how?

I want to create a quit claim deed transferring the property from my brother and I as joint tenants to us as tenants in common, but don't know if I need to file an affidavit of some sort to remove our fathers name from the original deed. I also don't know if there needs to be some type of consideration.
Lawyer Answer Mark Scoblionko

A: A new deed would be prepared, referencing the fact that your father has died, and conveying the property from you and your brother as joint tenants to you and your brother as tenants in common. You can simply recite "one dollar" consideration. You should have a lawyer do the new deed for you, but, so long as there is no mortgage or other lien against the property, it should be fairly easy. If there is a mortgage against the property, you would likely need the consent of the bank, which you are not likely to get.

Q: Is there any way to remove a limited life estate clause from a deed without the person agreeing to take it out?

My boyfriend and I bought our house from my boyfriend's parents. Only MY name is on the Mortgage. Prior to the sale, we discussed them living in the house with us. We spoke to a lawyer (who also owned the title company doing the closing), he said he was going to draft papers regarding the terms of them living with us. However, during closing, the title agent didn't bring any additional papers, she "hand wrote in" a limited life estate clause into the deed. She never explained what it meant for us or what the risks were. After the closing, we questioned why it was done this way, and all she said was "don't worry it can always be taken out later". She then retyped the deed and said we had to sign the second copy as well, which we did. It's now two years later, our living arrangement is not working out and we'd like to know if there is any way to actually have it "taken out" like the title agent said, without his parents having to agree?
Lawyer Answer Mark Scoblionko

A: Although it is not relevant to your question, it makes no sense that the deed would be in the names of both you and your boyfriend, but the mortgage is only in your name. For a mortgage to be valid, it must be executed by everyone whose names are on the deed. It is possible for the note that accompanied the mortgage to be solely in your name, even if the mortgage contains both names, if you were the sole borrower for the transaction. Perhaps you are confusing the note and mortgage. With respect to your question, it can be answered only if a lawyer actually reviews the document. However, as a general proposition, unless the deed provides that the life estate is revocable, you would need the consent and participation of your boyfriend's parents to revoke it.

Q: Can my family set a time limit on obtaining a mortgage for an estate, despite the fact that I'm actively searching for just one?

I was paying my mother weekly rent and have lived in the house 8 yrs. She passed away in July 2016 and also the executor (sister) wants evidence of mortgage by March 1, 2017. I'm actively searching for a mortgage but credit score is 9 points to low and might want additional time to get, couple months at most. I've been paying all expenses to preserve the home since her passing.
Attorney Answer Peter Munsing

A: The administrator can ask -- in case you are regarded as among the beneficiaries, a lot depends on.

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