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what responsibility do I have as to taxes and up keep?

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Icon Mini Profile LuvWDW4evr





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Post Posted: Mon Nov 05, 2007 2:01 pm    Post subject: what responsibility do I have as to taxes and up keep?
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my uncle(92 yrs old) signed a quit claim deed to me. in 2005. he has a life estate, he has now decided that he will sue me for back taxes, insurances and upkeep and also do a reverse mortage if I do not sign back his house to him. His lawyer at the time advises me not to sign now, but am I responsible for all those back things and can he sue me for them?
Icon Mini Profile gmakerley1





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Post Posted: Mon Nov 05, 2007 2:36 pm    Post subject:
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do you have a lawyer? if not, you need to retain one to answer those questions. frankly, the advice you will get from many of the posters on here will do you more harm than good.
Icon Mini Profile jenkin7
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Post Posted: Tue Nov 06, 2007 5:45 am    Post subject:
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Hello LuvWDW,

As far as I know, the grantor is responsible for paying all the property taxes and insurances till he passes away, even if he has signed a quit claim and has a life estate.

The grantee will be responsible for all these when he becomes the complete owner.
Icon Mini Profile larry





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Post Posted: Tue Nov 06, 2007 6:15 am    Post subject:
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Hi,

I think if your uncle has a life estate, you are not responsible for back taxes, insurances and upkeep of the property until his death. So your uncle cannot sue you.

Larry
Icon Mini Profile Caron
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Post Posted: Tue Nov 06, 2007 6:17 am    Post subject: RE: person with life estate to sue for taxes
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Hi luvwdwevr,

I agree with jenkin here. Your uncle shouldn't be able to sue you legally because it is his responsiblity to pay the insurances and property taxes as he has life estate and only after his death you are the one who'll have to pay for these.

It is true that an attorney can help you with some legal advice on this issue as well as guide you on what legal steps can be taken if your uncle at all tries to sue you. But prior to approaching an attorney, if you can get some legal advice from our forums, i don't think that's harmful. This is where people having various experineces in their lives and even professionals get together to help people like you get out of any kind of trouble.

I don't think there's any harm because everyone is giving his/her own views here and yes, you should surely get an opinion from an attorney. This is because after all we aren't legal professionals..but can you give you instant advice on what initial step you can take on any issue.

good luck

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Post Posted: Tue Nov 06, 2007 8:08 am    Post subject:
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is it also advisable to get medical advice from untrained people who have previously been sick; and therefore have experience in being sick?

i don't honestly think so - you need to consult with a lawyer - check in the yellow pages to see if there is a free consulting service somewhere in your area if price is a concern.

as far as a lawsuit is concerned, anyone can sue anyone else. does that mean that the suer will win? of course not, as that would be settled either in a court of law or through negotiation. it seems that you were ill-advised when the life-use situation first began...it would be doubly wrong to move forward and continue to rely on those of us who have no legal expertise.

and, of course, this is simply my opinion on the matter - what you ultimately do is your choice. i simply hope you make a reasonable choice.

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Icon Mini Profile jenkin7
jenkin7




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Post Posted: Wed Nov 07, 2007 4:33 am    Post subject:
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But I feel that people who have already suffered from the same problem might help you a little.

Those in financial trouble need mental support to take major decisions and that is what we try to provide, apart from the basic steps that one may follow initially.
Icon Mini Profile adonis
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Post Posted: Wed Nov 07, 2007 5:34 am    Post subject:
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I agree with you Jenkins. One needs mental support and the confidence to fight against all odds when he is in fianncial trouble. In fact, I know a few guys who were in trouble and got a lot of help and support from this community. Smile
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