Anybody know anything about real estate title law?

[Swimalie]

I will also add to the have them "get a lawyer" in the state camp. For nothing other than tax purposes they will need advice. I can tell you that the IRS laws can be complicated when it comes to property.

Our case was that my husband's grandmother died with no will and a house that was in horrible shape (worth about $19,000). We inherited 1/2 of 1/3rd of the estate (he shared the 1/3 of his dad's with his sister. Confusing, I know). We let his half-uncle do the stuff with his lawyer and we just approved it, not really knowing who this lawyer was. They ended up donated the house to a local charity which was fine with us. But they never got an appraisal, which is required for any item valued over $5000 by the IRS. It would have given us an additional $2000 back in taxes but if we get audited, my husband could lose his security clearance and possibly his job. Not worth it so we didn't take it as a deduction. So, bottom line, get a good attorney that is very knowledgeable in estate and tax laws so your parents can get what they are due. Good luck to them.

 

[chiefmickeymouse]

I used to work for a real estate lawyer who also did a lot of wills and family trusts on the side so I can't advise on the legal aspects but I can say that the will should be on file with the clerk of courts in the county state where it should have been probated. You can probably do a search online and find the records and/or call the town clerk where uncle lives to ask where a will for someone who lived in that town would have been probated then call the court where it would have been probated and ask for a copy. If it was never probated then something very fishy was done at the time of your great-grandfather's death. ETA there will be a fee to get a copy from the court but the cost will be fairly cheap.

On another topic. Going back to the aunt with Alzheimer's you might not be doing anyone any favors by looking into her divestment of interest in the property. If she is in a nursing home (either at the time or within a couple of years of when she signed the documents) then the nursing home will have the rights to anything she might be owed by the estate. This could tie the estate up even further possibly for years even, until she dies or any value of the house is consumed by the nursing home.

Thanks for the info on how to get the will.

 

[chiefmickeymouse]

I will also add to the have them "get a lawyer" in the state camp. For nothing other than tax purposes they will need advice. I can tell you that the IRS laws can be complicated when it comes to property.

Our case was that my husband's grandmother died with no will and a house that was in horrible shape (worth about $19,000). We inherited 1/2 of 1/3rd of the estate (he shared the 1/3 of his dad's with his sister. Confusing, I know). We let his half-uncle do the stuff with his lawyer and we just approved it, not really knowing who this lawyer was. They ended up donated the house to a local charity which was fine with us. But they never got an appraisal, which is required for any item valued over $5000 by the IRS. It would have given us an additional $2000 back in taxes but if we get audited, my husband could lose his security clearance and possibly his job. Not worth it so we didn't take it as a deduction. So, bottom line, get a good attorney that is very knowledgeable in estate and tax laws so your parents can get what they are due. Good luck to them.

Good to know. I didn't know an audit could make you lose a security clearance, good to know.

 

[chiefmickeymouse]

OP regarding your parents hesitation to retain a lawyer, tell them to ask for an engagement letter. This will spell out from the lawyer how much he will charge per hour and how much he thinks the total charges will add up to for your case. Once he drafts all that info in the letter you sign it and it becomes your contract with him to retain his services. This will help you fight off a big bill at the end.

That is good to know. I think what they are worried about is being presented with a huge surprise bill at the end of all this.

 

[Swimalie]

Good to know. I didn't know an audit could make you lose a security clearance, good to know.

From what we were told, you lose it until the audit is over. If you are cleared, then you are fine. But if not.... And with our case, we would have not have been cleared since the half-uncle didn't do the transaction right. Better to be safe than sorry.

 

[sarah4770]

From what we were told, you lose it until the audit is over. If you are cleared, then you are fine. But if not.... And with our case, we would have not have been cleared since the half-uncle didn't do the transaction right. Better to be safe than sorry.

I did not know that and thanks for that information. There is so much to learn, which is why talking to a knowledgeable attorney is really the best answer for the OP. It is worth spending a few hundred on.