What is it techinically and it s repercusions? I am blur when the lawyer talks about it!
2007-01-01 08:13:43 · 3 answers · asked by Moi 2 in Education & Reference ➔ Other - Education
Perhaps you mean forced ownership, ask more questions of the lawyer
2007-01-04 13:47:22 · answer #1 · answered by gone 7 · 0⤊ 0⤋
Hmm, I think you get taxed on any money that comes to you from overseas that is over $10,000 USD.
If there is another government where your property is located, they will probably tax you for the property. They also probably have their own deed-recording agency that you'll have to deal with.
I don't know the first thing about buying insurance in other countries, either. Or what the insurance actually covers (most plans have many exceptions).
I can't tell you all the repercussions, and I'd be a fool to think I could.
If your lawyer refuses to explain the details to you, he's probably got an angle that is to his benefit and not yours. If your lawyer cannot explain the details to you, he doesn't understand them himself. Ask him to explain as simply as possible, perhaps in writing, and if you still don't understand, get a new lawyer who speaks your language.
2007-01-01 16:30:33 · answer #2 · answered by wood_vulture 4 · 0⤊ 0⤋
I shall check here again as I would like to know too!!!!
2007-01-01 16:30:46 · answer #3 · answered by Telephone678 2 · 0⤊ 0⤋