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Can someone help with real estate law and taxes?
Recently I became aware of a situation where my father (not a good person) claimed he put his house in my brother's name in order to receive help from the state. My brother is not very knowledgeable about this stuff and as my father is sick just assumed he was helping him out and he would get the house when he passed. When I asked about it, my brother knows nothing about it and has no paperwork. He said he signed something but was told by my father that he (father) would take care of anything that was financial. There were no lawyers or relators present.I asked several questions and my brother has no answers. My brother has asked repeatedly for any paperwork and gotten nothing. My father does not even have a will. Please help us. I foresee a huge mess with this. My father is a selfish, sneaky person who would think nothing of taking advantage of us. He and my brother share the same name and I think he's using his name for a variety of things. We have tried to stay away from him but he is so manipulative.
1- How do we know if he's paying the taxes on the place?
2-How can we find out if he's paying the mortgage of if he signed for some type of reverse mortgage?
3-Is it possible to just transfer ownership of a home without the person selling it paying taxes on it, or the person receiving it paying some type of gift tax?
4- What fees could my brother end up owing as I don't think the house is going to be worth spit?
5- How do we get his name off of the house if in fact it is on?
To those of you who offered valuable advice I truly thank you. I'm an educated person but real estate law is not my forte'.
sophieb-Your response was ignorant. Not knowing the facts you should keep those comments to yourself. My father did try to get me to sign many things in my life, none of them legal. I have no desire for anything he would give me and would gladly give my brother my right arm if he needed it. My desire was to protect him. It's called love, not jealousy.
6 Answers
- efflandtLv 77 years agoFavorite Answer
Typically if you go to your county treasurer's website you can find the status of property taxes on it, although, that might or might not show the owner or where tax bills are mailed. I don't know if you can just go to the county clerk to find out current ownership or if you need to do a title search or abstract to find out who owns it and if there are any outstanding liens on it (mortgage, etc.). Even if there is a loan on the property the lender is unlikely to give you any details about it.
If your brother does own it free and clear, it is unlikely that your dad ever filed a gift tax form, so your brothers basis in the property would be zero. Assuming he lives in it enough years, when he sells it anything over $250,000 exclusion ($500,000 if married filing jointly) would be taxable income (if it is worth that much).
If your brother did not even read or remember what he signed, everything is anyones guess.
- SlickterpLv 77 years ago
He can go to county records and ask for the records of ownership.
If your dad was sick an looking for state help, the state will look back 10 years for asset transfers and take the house anyway.
1. Tax assessor can tell you if taxes are up to date
2. You can check liens, but you can't find out if he's paying them
3. Yes
4. impossible to say
5. Sell it or give it to someone else.
- 7 years ago
You can transfer the ownership of a home. Check all documents and discuss with your family members. Hire an attorney to help in the name transfer of your property.
- nascar88gyrlLv 77 years ago
Most counties in the USA have their records available online. If the're not online, you can go to the county courthouse and do a records search--mortgage, reverse mortgage (is he 62 or older?), deed, taxes, etc.. Once you have the information, if any, you and your brother can make an appointment with an attorney.
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- sophiebLv 77 years ago
there is a city or county tax department you can call to see who is paying the taxes (or see if they are in arrears), and you can also find out who the owner is. You can hire an attorney and ask in whose name the property is in and you can call the clerk of court and ask because that change of name would have to be filed with the court. Why would you want your brother's name off of the mortgage, are you jealous that you dad didn't do that for you? Tell your brother that if he has any questions to hire himself an attorney whose specialty is real estate. Or he should go with his father to his dad's attorney and get things explained to him.
- Anonymous7 years ago
no
