2006-12-01 12:37:04 · 9 answers · asked by bccrew 1 in Business & Finance ➔ Renting & Real Estate
Quit Claim Deed. Also there are tax implications as the house would be valued over a 10,000 dollar gift. She can transfer % of ownership over time to avoid tax ($10,000 worth per year) .
2006-12-01 13:07:45 · answer #1 · answered by Anonymous · 0⤊ 0⤋
What do you advise by weak credit? some classes will artwork with those with marginal credit, yet they are getting tougher and tougher to locate, and they are severe priced. because the housing crash, lenders are growing a lot extra stringent, as they should be. FHA, VA, HUD, and Rural progression will all do low/no downpayments, yet they require reliable credit. My advice is search for a monetary consultant which could assist you're taking steps to fix your credit. the base line is your weak credit and shortage of reductions reveal that you're severe possibility debtors. this isn't a own judgement. that's only a judgement that statistically, those with funds simliar on your are very in all probability to default on your loans. finding out to purchase a house is something you ought to do once you're in my opinion reliable and is no longer shifting for a lengthy time period and performance your self financially aligned. Being "ill of renting" isn't a valid reason to objective to purchase a house.
2016-11-30 01:00:41 · answer #2 · answered by ? 4 · 0⤊ 0⤋
I'm a paralegal, vet of over 500 real estate transactions. Hire a real estate attorney that understands your tax and real estate position, and what your final goal is. Your solution may not get you to that goal or result! Make sure you have the right solution 2 your problem!
2006-12-01 13:43:06 · answer #3 · answered by Repo4Sale 1 · 0⤊ 0⤋
Better talk to a CPA and a lawyer. The CPA will help with tax questions and the attorney with title transfer.
2006-12-01 12:39:38 · answer #4 · answered by Anonymous · 1⤊ 0⤋
Its called a Quick Claim Deed and your Mother will be gifting it to you. Go to your nearest title company to get the legal documents.
2006-12-01 12:38:45 · answer #5 · answered by Cynthia H 4 · 0⤊ 0⤋
The only safe way is to get a lawyer. He can arrange for a proper land titles chnage.
2006-12-01 12:38:49 · answer #6 · answered by Toms777 3 · 1⤊ 0⤋
you go to a title company they will work it out for you.
2006-12-01 12:41:00 · answer #7 · answered by albertferrin 1 · 0⤊ 0⤋
attorney draws up papers==5 min work----
2006-12-01 12:39:59 · answer #8 · answered by cork 7 · 0⤊ 0⤋
She could sell it to you for one dollar.
2006-12-01 12:57:49 · answer #9 · answered by Piguy 4 · 0⤊ 2⤋