| Forum Home | ||||
| PC World Chat | ||||
| Thread ID: 146473 | 2018-08-10 21:23:00 | Mortgage Free! | piroska (17583) | PC World Chat |
| Post ID | Timestamp | Content | User | ||
| 1452563 | 2018-08-10 21:23:00 | Again. Well almost, starting the process next week. Slightly scary, first time in 40 years I won't own a house, or have the ability to buy one. And for husband first time in 49 years. Oh er.... Good for son though and it was his idea to do it now. We'll pay him board until such time as we move, whenever that might be.... Confusing for lawyers though: 1)I'm on title, husband not, but he on house loan with me...lol 2)Sale agreement (son has same name as husband) And we have to do a "gifting" doc first as he is not buying the house as such... Lawyers wanted to do some legal thing, words to the affect that he can owe us the equity...nah, not going to do that. |
piroska (17583) | ||
| 1452564 | 2018-08-10 23:04:00 | My brother sold one of his rentals to a friend of his for quite a bit under market value to help them out. Had a real hard time getting through to lawyers, his house he can sell it for what he wants. Lawyers were really confused about why one would do this. Tried to make it a lot more difficult then it needed to be. I guess they are only looking after your interests | plod (107) | ||
| 1452565 | 2018-08-11 01:31:00 | Yep, she has a sense of humour though, I said son will pay as we can't, she said oh yes, that's fine, we do charge millions....LOL. | piroska (17583) | ||
| 1452566 | 2018-08-12 11:15:00 | Why? Are you trying to get assets out of your name? Or are you down-sizing? Or something else? | andrew93 (249) | ||
| 1452567 | 2018-08-12 21:29:00 | Or something else? Yes, something else. |
piroska (17583) | ||
| 1452568 | 2018-08-13 12:12:00 | Yes, something else. I hope it's worth it and that you have good advice. |
andrew93 (249) | ||
| 1452569 | 2018-08-14 08:10:00 | I know its your private business, but its very hard to understand what you were trying achieve and what you have done, and why | Digby (677) | ||
| 1452570 | 2018-08-14 08:13:00 | Just do what you think is best, I think I get what your doing and I think its great my neighbours are doing the same with their daughter | gary67 (56) | ||
| 1452571 | 2018-08-14 08:58:00 | You just want to make sure you do it right or sonny jim might get a nasty bill. The rules around ‘gifting’ changed a while ago and doing it wrong can have tax implications - listen to your lawyer, you’re paying for their advice anyway. | fred_fish (15241) | ||
| 1452572 | 2018-08-14 10:39:00 | You just want to make sure you do it right or sonny jim might get a nasty bill. The rules around ‘gifting’ changed a while ago and doing it wrong can have tax implications - listen to your lawyer, you’re paying for their advice anyway. You beat me to it Fred. Lawyers have a fiduciary duty to their clients, and if you don’t listen, then be it on your own head. I’ve been involved in transactions worth $M’s (NOT profit) and if you don’t dot your “I’s” and cross your “T’s” you’re dead meat. :groan: |
B.M. (505) | ||
| 1 2 | |||||