When Co-signing a Mortgage Goes Wrong

However, if the cost of repairs or roof replacement exceeds the local small claims court jurisdiction, then you can either reduce your claim to that maximum amount or hire a lawyer to sue the seller in a formal court proceeding.

DEAR BOB : There are numerous properties in my city that are owned by government agencies and are not being used. Is there any way I can gain title by adverse possession to put these properties to use?-- Rodger A.

DEAR RODGER: Sorry. Adverse-possession laws do not apply to real estate owned by any government agency, public utility or railroad.The reason is these landowners cannot periodically inspect their many properties to see if someone like you might be adversely possessing them without permission, such as by planting a flower garden for the required number of years.

DEAR BOB: In August 2004, I bought a junior one-bedroom condo, advertised as "approximately 551 square feet." A week ago, I receive a list of recent sales in my building from the real estate agent who sold my unit. It listed the condo like mine three floors above me, which sold at 523 square feet. That is 28 square feet smaller than I was led to believe. If my math is correct, based on my purchase price I overpaid by $11,180 in square-foot value. Is "approximately" a common wording agents use to inflate the square footage and price? Should buyers be responsible for verifying this? The appraisal didn't evaluate size. What advice do you have on recouping the misrepresented square footage and associated value? -- Daniel R.

DEAR DANIEL: Have you measured the square footage of your unit? Maybe the upstairs unit is different. Unless you can prove you paid on the basis of the advertised square footage, such as $200 per square foot, you would have a weak case to prove misrepresentation.

Most real estate listing information includes disclaimers such as "Information deemed reliable but not guaranteed." You said your condo was advertised as "approximately" 551 square feet, indicating there was no specific representation.

Your chances of finding a lawyer to take your case on a contingency are slim.

DEAR BOB: Last year I took out a mortgage to help my son buy a house. The house is titled in my name. How can I re-title the house to him so he can benefit from the mortgage interest and property tax deductions? He makes all the payments. -- Jesse H.

DEAR JESSE: Sign and record a quitclaim deed transferring title from you to him. Then he can deduct the mortgage interest and property tax he pays. Your name will then be off the title. However, your name will remain on the mortgage obligation. Be sure your son pays the mortgage on time or your credit will be harmed.

DEAR BOB: I hired a licensed, insured contractor to do some renovation work on my property several years ago. We agreed he would obtain all the required permits, do the work, and have the work passed by the building inspector. The work was completed and paid in full. But I am not sure the permits and inspections were obtained. The contractor is now out of business. Will this renovation work affect the sale of my property in the future? What should I do? -- Gregg R.

DEAR GREGG: Pay a visit to city hall to see what building permits have been obtained on your property. You don't have to tell the clerk what you really want to know. Most building departments maintain records by the property address. The file will include copies of all building permits issued for your property, plus copies of all completed inspections.

If you discover either that a building permit was not obtained or that the work was not inspected upon completion, when you sell the property you must disclose those facts to your buyer. The result might be a diminished market value for the property. Or the buyer might not care.

Readers with questions should write Robert J. Bruss at 251 Park Rd., Burlingame, Calif. 94010, or contact him via his Web page, http://www.bobbruss.com.

© 2007, Inman News Service