is never sold. My husband and I have some land we want it to always be there for any family member that needs a home. Are the people that you leave it to caretakers and not the land owners. How can I do this?I can't afford a lawyer write now
2006-07-20 04:24:43 · 7 answers · asked by g-day mate 5 in Business & Finance ➔ Renting & Real Estate
my husband passed away last year, when I die I want it to stay in his name forever after I am gone and on and on.Never to be sold, but someone has to be named to take care of taxes and insurance, are they named as caretakers not owners if they are owners they can sell it
2006-07-20 04:42:23 · update #1
To do what you wish you are going to need to set up a trust fund. You will also need the financial resources to make sure that the property is maintained in perpetuity.
You will need a lawyer to set this up for you. Since you stated that you can't afford a lawyer, it's most likely that you don't have the funds to set up the perpetual care fund either.
Given the circumstances that you stated, it's probably not possible for you do do this at this time. Should you pass on before the trust is set up and the property transferred to the trust, it will pass to your heirs who will generally be free to do anything with it that they choose.
2006-07-20 05:10:15 · answer #1 · answered by Bostonian In MO 7 · 2⤊ 0⤋
A Trust would be the way to go. Unfortunately, in order to have a good trust drawn, you need to consult an attorney.
There are a ton of do it yourself forms and software, but to make sure the conditions and stipulations are binding, an attorney is the best way.
If you are a senior citizen, check with AARP or your local senior center for programs that will be much more cost friendly to you. Even some banks are presenting seminars regarding trusts. Look into whatever resources that are available to you.
Good luck :)
2006-07-20 04:33:08 · answer #2 · answered by Christine 3 · 0⤊ 0⤋
I agree with bostonianinmo, what you are describing isn't practical.
A beautiful, generous loving gesture, just not practical. You may be able to leave it to the state with a provision that your heirs have the right to occupy it rent free for 35 years (or something like that). The Hearst family still has some limited access to the Hearst Castle even though it is now owned by the California.
2006-07-20 14:04:51 · answer #3 · answered by GaryODS 3 · 0⤊ 0⤋
Make sure your name is on the deed and make sure you have a Will and or Living Will outlining your wishes upon death or if you become incapacitated. You an get a Will packet at the Office Supply store if you cannot afford a lawyer. Just make sure you file all the paperwork with the county clerk, etc. properly.
2006-07-20 04:30:30 · answer #4 · answered by Your Personal Assistant 2 · 0⤊ 0⤋
The land belongs to the person on the deed. As long as you pay the taxes on the land, there's nothing anyone else can do.. You shouldn't need a lawyer...
2006-07-20 04:27:22 · answer #5 · answered by ray of sunshine 4 · 0⤊ 0⤋
Donate it to the city with the stipulation that it must be used as a public park.
Regards
2006-07-20 19:35:56 · answer #6 · answered by Anonymous · 0⤊ 0⤋
Put it in a irrevocable trust. Make sure to add that nobody can encumber the property in any manner.
2006-07-20 04:28:44 · answer #7 · answered by Anonymous · 0⤊ 0⤋