You have been named and are now acting as personal representative of mom or dad’s estate or trustee of their trust. You are a fiduciary, who is someone who handles funds or property of another. You have a fiduciary duty …
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Survey
When you purchased your home, you probably did not get a stake survey of your property. Most likely, you had what is called a mortgage survey. But do you know the difference and what protections each would afford you? The …
New 1099 Reporting Requirements
Starting January 1, 2011, record keeping for rental property owners will become a little more complicated. Then starting January 1, 2012, all businesses, including rental property owners, will have an increased reporting burden. There are two new reporting requirements. The …
More Out-of-Home Living Options
In prior columns we have discussed various living arrangements both in and out of your home. But what if you cannot live alone and need 24 hour personal care, protection or supervision, but do not need the care provided by …
Moving In With The Kids
You can no longer live on your own and you have decided to move in with one of your children. Before you move in with your child, you should have discussions with them regarding the living arrangements. If your child …
Investment Real Estate Options In PH Limited
As part of your investment portfolio, you may have invested or intend to invest in rental real estate. If you have invested in residential real estate in the city of Port Huron, you may not be able to rent that …
What’s In a Deed
The last few weeks, we have discussed the different types of deeds, the different types of ownership interests of a deed and the rights of deed co-owners. Today we will discuss the elements of a deed. Most deeds start with …
Interests of Multiple Owners of Property
The last two weeks we have been discussing deeds and just how a small change in the words used on a deed can make a huge difference in the ownership interest conveyed by the deed. These discussions about deeds must …
Deed Ownership Interests Can Be Bewildering
Last week, we started the discussion about deeds and how little changes in a few words can make a huge difference in the interest you receive in real estate. You may not be getting what you thought you were getting …
Deeds Deeds and more Deeds
If you own your own home you have probably seen a deed. But did you know that the words you use on the deed can make a huge difference on how the real estate is going to be treated for …