I suggest you contact a real estate attorney.
2007-08-24 13:11:49
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answer #1
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answered by mister_galager 5
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If your name is on the deed-- aunt also and grandma is not on the deed. Put a sign out front --For Sale -- when a buyer comes around they must get financing or pay cash. The bank can write a real estate agreement and every one signs. Then the buyer takes possession on closing and thats when you get the money. Make sure the house is empty before closing. The buyer gets the keys and you are not to tresspass on their property. They own and bought everything left in the house and garage...
Closing company does all the legal magic -- no attorney is not needed or your wasting money.. $$$$
If your aunt is sole owner on the deed -- it her house.
If you are the only one on the deed -- it is your house
If grandma is on the deed and she is the sole person on the deed -- you need an attorney. She has passed away.
As long as you are living in the house and this is the primary residence there is no Capital Gains Tax. Has to be for 3 years. Taxes is like 24% of the selling price.
2007-08-24 12:31:48
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answer #2
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answered by Gerald 6
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Ok, first off how do you and your aunt own the house? Do your names appear on the title or are you assuming you own it? I'm not trying to be mean here, what I am trying to do is let you know in order to own your grandmothers property it would have to be on paper and recorded in the county the property is located in. If you don't have anything and grandma doesn't have a will then you can't sell the house legally unless you do it through Probate. You don't need a lawyer for Probate court but you do have to ask questions and understand how the process works. If you try to sell it on your own you will come up against obstacles but if you go through Probate you will not have any issues.
You need to go down to the courthouse and file for Probate. You will need grandma's death certificate, her social security number and will have to notify Social Security, IRS and check with insurance company to see if she had a policy. Also you will have to verify all her bank accounts, revolving charge cards, credit cards, any outstanding loans, find out if the property is free and clear or if there is any liens on the house. If the house is free and clear that is great but you will still have to pay for taxes.
If this is toomuch for you to tackle alone, I would get an attorney but the fees are horrendous.
2007-08-24 12:27:08
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answer #3
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answered by Anonymous
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If the deed reflects that you and your living aunt are now the sole owners, then it is a normal sale.
If the deed indicates that your deceased grandmother is the sole owner, then it needs to go through probate along with the rest of the estate and you need to get a deed that reflects that you and your living aunt are now the sole owners.
If the deed indicates that your deceased aunt and a person who is still alive jointly owned it, then the situation depends on the state and various other factors, so you should talk to a lawyer. For example, CT treats automobile deeds that say one person "and" another differently than ones that say one person "or" another (although hiring a lawyer to determine how to register a ten-year-old car worth $600 is rather silly). House deeds are even more complex than car deeds. One thing to look for is the phrase "joint tenants with right of survivorship".
2007-08-24 12:13:50
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answer #4
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answered by StephenWeinstein 7
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I would strongly urge you to use an Estate Attorney and/or a Real Estate Attorney. We have no way of knowing how the property was left to you and can not give legal advise as to it's disposition. Only a lawyer can tell you that.
2007-08-24 12:09:52
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answer #5
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answered by Alterfemego 7
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You can sell your share at any time if you can find a buyer. It's best to work with your Aunt if possible.
2007-08-24 12:08:52
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answer #6
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answered by tommyfourth 3
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lawyer is best thing to help you on this one.
mc
2007-08-24 12:12:19
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answer #7
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answered by Michael M 7
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