REAL ESTATE MATTERS | Without the recording or filing of the deed during the husband’s lifetime, the husband’s intentions are ambiguous, and we suspect that the deed may no longer be valid.

  • Ilyce Glink and Samuel J. Tamkin
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REAL ESTATE MATTERS | Companies charge individually for all the services that were once included in the overall management fee. The result is higher overall fees.

  • Ilyce Glink and Samuel J. Tamkin
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REAL ESTATE MATTERS | If the total value of his estate is less than $12.06 million, no federal income or estate taxes will be due.

  • Ilyce Glink and Samuel J. Tamkin
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REAL ESTATE MATTERS | By keeping the home in your dad’s name, his estate won’t have to pay estate taxes, and when you and your siblings get title to the home after his death, you probably won’t have any federal income or capital gains taxes to pay.

  • Ilyce Glink and Samuel J. Tamkin
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REAL ESTATE MATTERS | Have a conversation with your sister sooner rather than later about the costs of running the house and the method to transfer her home to you after her death.

  • Ilyce Glink and Samuel S. Tamkin
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REAL ESTATE MATTERS | The heir of a landlord is not obligated to honor a verbal contact to provide a lifelong lease.

  • Ilyce Glink and Samuel J. Tamkin
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REAL ESTATE MATTERS | There are items that could affect a home buyer that may not show up on the title, including some judgments, federal income tax liens and state tax liens.

  • Ilyce Glink and Samuel J. Tamkin
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REAL ESTATE MATTERS | By receiving the home as a gift, younger sister might be able to avoid estate taxes. However, she might be subject to a capital gains tax.

  • Ilyce Glink and Samuel J. Tamkin
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REAL ESTATE MATTERS | Don’t fool yourself into thinking that if you aren’t buying your “forever” home, it isn’t worth getting in the game. It is.

  • Ilyce Glink and Samuel J. Tamkin
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REAL ESTATE MATTERS | When owners of farmland are uncertain of how to manage the land left to them, especially when it has some sentimental value and they do not want it sold, the land can be rented or leased out.

  • Ilyce Glink and Samuel J. Tamkin
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REAL ESTATE MATTERS | The important thing here is to understand your rights as a tenant. And your lease agreement is the key to those.

  • Ilyce Glink and Samuel J. Tamkin
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REAL ESTATE MATTERS | You don’t need a reason to exclude someone from getting your money or property after you die. You just need to decide what you want to do and then take steps to ensure your wishes are carried out.

  • Ilyce Glink and Samuel J. Tamkin
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REAL ESTATE MATTERS | When evaluating cash reserves, we believe you need to separate what a local real estate market says about property valuations and the actual cost to repair a specific item in a property. These are two separate issues.

  • Ilyce Glink and Samuel J. Tamkin
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REAL ESTATE MATTERS | Twenty years ago, we might have suggested that our correspondent copy all relevant documents and put them into a lock box in a bank. Today, it’s a lot easier to simply scan your important papers (not to mention photographs) and create a cloud-based storage system.

  • Ilyce Glink and Samuel J. Tamkin
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REAL ESTATE MATTERS | We suspect your real question is whether you have any recourse against the sellers for their failure to properly disclose the lack of any sewer system. Your state’s seller disclosure laws may give you the remedy to terminate the contract and walk away if you haven’t already closed.

  • Ilyce Glink and Samuel J. Tamkin
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REAL ESTATE MATTERS | The taxes can be deducted, but the larger question is getting a financial plan with the siblings that would govern joint management of the property.

  • Ilyce Glink and Samuel J. Tamkin
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REAL ESTATE MATTERS | You need to sit down with an experienced attorney, perhaps even a team of qualified professionals, to help you sort through the issues you face and set up a plan that will take you through retirement.

  • Ilyce Glink and Samuel J. Tamkin
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REAL ESTATE MATTERS | Make sure you accompany the inspector on the tour of the home and flag issues they may be overlooking.

  • Ilyce Glink and Samuel J. Tamkin
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REAL ESTATE MATTERS | A 1031 exchange is a mechanism real estate investors use to defer federal income and capital gains taxes on the sale of an investment real estate property.

  • Ilyce Glink and Samuel J. Tamkin
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REAL ESTATE MATTERS | Given what goes on in the world of identity theft and digital personal financial fraud these days, it’s not a bad idea to keep an eye on what you own and the accounts you have from time to time.

  • Ilyce Glink and Samuel J. Tamkin
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