Children of deceased homeowner now have title to property
Q: My mom died and had no will, so my brother and I own the house. How do we get title into our names?
A: You already have title. Title passes to the heirs upon death of the decedent. We assume you were the only heirs. When you get ready to resell, you will need affidavits of heirship from non-family members and the death certificate for your mom. If your dad has died, his interest will have to be accounted for as well.
Q: I’m selling a rental house that I have had for over 40 years. The title company said I didn’t have good title because of defects in deeds dated 1916 and 1963. My prior title company is no longer in business. What do I do now?
A: Adverse possession should take care of these issues. You’ll probably need affidavits of possession and title company underwriter approval. This will take a little time, so be patient and work with them. See what can happen if a title company goes out of business? Choose them carefully.
Q: Is buying a home in 2017 still a good investment?
A: Yes. It provides shelter, a chance of equity build-up as you pay your mortgage down, a chance of value increase if the market improves, and a sense of community. Most investments aren’t this promising. Homes have always been the start of the American dream. We doubt that that will change any time soon.
Q: We just got our homeowners association bill for the coming year. It has doubled. We can’t afford this. Will they take my house? Who regulates these associations?
A: Yes, they can take your house for nonpayment. These associations are not regulated. We suggest you talk to your HOA’s board of directors or if that doesn’t work, your legislator.