Real estate tips from Kathy Bertani of RE/MAX. Information is provided by "It's Time to Move Up", the real estate resource for consumers who want their questions answers in ways they can understand.

Answer: The lender/bank has taken ownership of the property, either through an agreement with the owner during pre-foreclosure or at the public auction. The lender usually sells the property to recover the unpaid loan amount. The lender typically clears the title for any buyer, but the potential bargain is often less than a pre-foreclosure or auction property.

Many people don't realise that if they own property (i.e. land/buildings jointly with someone else as "joint tenants" (e.g. most married couples own jointly owned property as joint tenants) then their "share" of that property automatically passes to the other person upon death and does not form part of his or her estate. There is therefore no need to make any mention of that "share" of a property in a Will nor any purpose in doing so.

Prior to any investment we recommend a conference with our principals, Mr. Fell and Mr. Hearn. Please see our Services for more details about this no-obligation learning experience.

The trust documents must be reviewed and approved. A living or revocable trust will usually be accepted. However, an irrevocable trust may not be acceptable. The key is to have the trust documents reviewed at the outset.

The University's Property Insurance coverage responds to the loss of all owned or non-owned property in the care, custody or control of Princeton University. A deductible of $1,000 may be charged back to departments depending upon the nature of the loss. Insurance reimbursement for losses of owned property is made on a repair/replacement basis.

The property that each spouse owned before the marriage, as well as any property given to or inherited by one spouse during the marriage (unless it has been co-mingled or gifted to the other spouse) usually remains that spouse's separate property. If non-marital property is not kept separate from marital property, it may lose its non-marital characterization and become subject to division.

Certain trusts can qualify for homestead. A Certificate of Trust must be completed and approved by the County Assessor, or the Trust must be provided for the Assessor 's review. Call Anoka County Assessment Services for further information at 763-323-5475.

Yes if a legal transfer is desired. In some cases a perpetual easement can be granted so that the land will revert to the original agency if the parcel ceases to be used for the purpose granted in the easement.

A 21. Related party transactions are being scrutinized by IRS under SEC. 1031 (P), TM 9748006 - 08/25/97 IRS is concerned with abuse of basis. Until we receive further information on related party transfers we are advising against them. IRS appears to be determined to audit all exchanges between related parties.

In general, creek banks are usually located on private property and bank erosion is a natural process. To help stop erosion, property owners can try to establish fast growing native vegetation. In some extreme instances, a hardened treatment such as a wall or rock slope protection may be sought, although these applications can be expensive. Also, permits from the State Fish and Game Department, as well as the City or County may be needed.

That will all depend of your financial situation; the bank will request that you have no more than 30% of your income going to debt payment (mortgage, car loan, etc.). They will ask: income tax papers, salary slips, bank statement, etc. Usually you will be able to finance your property at 50% up to 90% depend of your citizenship and financial situation interest rate are about 5%.

In all circumstances, the Banks will make sure this is handled sensitively and respectfully. It may be possible to transfer payment obligations to other individuals as long as they are able to demonstrate their ability to meet the payment obligations. At present, most Banks do not offer life cover as they are not satisfied that any Shariah compliant alternatives to life assurance exist. However, if this is a concern, you should consult with an Independent Financial Advisor.

The eligible funds veterans' real property tax exemption provides a partial exemption where property owned by a veteran has been purchased with pension, bonus, or insurance monies. Another exemption, known as the alternative veterans' exemption is available only for residential property of war veterans. Each county, city, town and village decides on the amount of maximum exemption.

According to the Internal Revenue Code, Section 6337 the following individuals have the right to redeem the property at any time within 180 days after the date the successful bid is accepted by the IRS: The taxpayer and others of interest have a right to redeem the property and any action is dependent upon state law. Therefore, you should contact an attorney or legal representative for this type of advice.

Regardless of the controls used by the Public Protection Department for controlling nuisances, the Housing Association has additional control over the behaviour of its tenants as detailed in their tenancy contract.

A:   If the decedent had property titled jointly with anyone other than the surviving spouse, there may be inheritance tax due. For more information, contact a probate deputy in the decedent's county of residence.

No, unless a disregarded entity is involved. IRC § 1031 provides that no gain or loss will be recognized on the exchange of property held for productive use in a trade or business or for investment if the property is exchanged solely for property of a like kind which is to be held either for productive use in a trade or business or for investment (a so called "qualified use").

Ans. Yes. Reserve Bank has granted general permission for sale of such property. However, where the property is purchased by another foreign citizen of Indian origin, funds towards the purchase consideration should either be remitted to India or paid out of balances in NRE/FCNR accounts.