Chad M. asked
If I negotiate a price of $300,000 for a house, which is reduced from the appraisal and accounts for repairs and realtor costs, where do escrow and title costs come from? Should they come from my pocket or the Trust? Additionally, how is the price split between the four kids? Is it the negotiated lower price to be split four ways, or is there another method? I want to settle now by offering each of them 1/4 of the cash ($585,000) and buying them out on the house. Do I need to figure that I own 1/4 and then buy out their 3/4? How should this be handled?
June 1st, 2023
Melissa S. answered
Escrow and title costs typically include the Title Insurance, recording of the deed, taxes until the...
June 1st, 2023
Create an account to view answers and interact with the community!
How long does it typically take to resolve cases like this, and what are the potential consequences if the insurance company fails to reasonably settle?
February 25th, 2024
I have a court date today in Cecil County, MD, for driving on a suspended license. I surrendered my MD license in Dec 2009, moved to PA, and obtained a PA license in Nov 2009, maintaining a perfect driving record. My previous MD driving record was not good. MD suspended my license due to an unpaid fine, which I have since paid, and the suspension was withdrawn. I did not realize my MD privileges were revoked until I was stopped for a brake light issue and given a court date to resolve it. I have completed the reinstatement request, paid the fee, and completed a driver improvement course as requested. MD's driving record states 'revoked' but also shows the fine paid, reinstatement fee paid, and the course completed. I do not want to go to jail. What should I do?
February 25th, 2023
My friend Denise, who has dementia, has not filed taxes for several years. I am her power of attorney and am trying to catch up on her tax filings. Denise lives in a retirement community where her rent increased significantly, and the home is now applying for Medi-cal. The home only wants $2000 in her account for Medi-cal eligibility, so I have been moving money from her account into another account in my name. Is this a problem for me, and could it cause issues with the IRS or Medi-cal?
July 17th, 2024
Is it legal to copy a driver's license to prove someone's identity for using a credit card in the state of Michigan, especially for small businesses that cannot raise prices or interest rates like larger stores, and where can I find this information?
October 29th, 2023
I cosigned for a car and the title is in the other person's name only. The bank requires me to make two payments to maintain my credit. I have made almost all payments and have proof of them. I tried to reason with the person to sell the car and get one she can afford, but she is not willing. What are my options to resolve this situation?
June 26th, 2023
