What Estates That Need Probate And Those That Don’t?
Video Summary
What estates need to be probated? And what estates do not need to be probated whenever the deceit and passes away. And all of his titled assets are in his joint names with someone else, they will pass to the joint tenant that has the right of survivorship. There are many examples where there’s a designated beneficiary, such as a individual retirement account, an IRA account. They designate beneficiaries, same thing with the life insurance annuities. Many bank accounts may have a designation such as payable on death or interest trust for, and designate beneficiaries should receive the assets. All of these assets pass without going through probate. So those assets do not have to go through a probate process. If there are assets that are in the decedent’s name alone, such as real estate, or bank account, or a securities account, whether stocks or bonds that are just in the decedent’s name and there’s no designated beneficiary or joint tenant, then those are the assets that have to go through probate. So, if you have any questions about probate, give me a call at (727) 847-2288.
- Published in Estate Planning, Videos
I Have No Mortgage On My Condo, But I Owe My HOA 10,000. Notice of Sale Issued. Will I Lose My Condo?
Video Summary
I have no mortgage on my condo, but I own my homeowners association, $10,000, notice of sale has been issued. Will I lose my condo? The answer is yes, the property will be sold that judicial sale. And you will no longer own your condo. I suggest that you go about paying the homeowners association. So, you don’t lose that to get you a home equity loan, or some other kind of loan to pay that, to save your homeowner, save your condominium, or sell your condominium and obtain the equity. Since you have no mortgage on it, it would be a shame to lose all the equity in your home or your property as a result of not paying your homeowners assessments. But they do have a right to foreclose on a homeowner’s assessment lien, and that will be sold at judicial sale. You may receive some of the excess proceeds over the amount of the lien that is sold, but usually at a judicial sale, the property sells for well under what the market value is. If you have any questions concerning this, give me a call at (727) 847-2288.
- Published in Real Estate - Foreclosure, Videos
Having Trouble With My Homeowner’s Insurance They Denied A Claim, What Can I Do?
Video Summary
I am having trouble with my homeowners insurance they denied a claim. What can I do? That number one, we would need to see why they denied the claim. They may have denied it because you did not have coverage. But the answer to that is, is you need to contact an attorney who handles claims against insurance company for property damage though. There’s not as many of these lawyers available to sue insurance company over property damage, as they are for personal injury. Most of the attorneys you see that advertise on billboards are, only handled claims against insurance companies for personal injury or wrongful death. So you would need to find an attorney who would sue an insurance company for property damage, and they would need to make an appointment with them and have them review your title, policy, and or title policy, your insurance policy, to determine whether or not your loss is covered. If it is, and they’ve denied the claim they will undertake to represent you, against your insurance company. I do not handle property insurance claims, but if you call me, I will be glad to give you the name of an attorney in the Tampa Bay area. Who does handle property claims against insurance companies. My phone number (727) 847-2288.
- Published in Real Estate, Videos
What is Estoppel Letter?
Video Summary
What is the Estoppel letter? An estoppel letter is a statement by someone who is owed money. They set forth how much money is owed bias, particular date. You can then rely upon that as a closing agent or someone whose paying them that amount. That is how much is owed. And if you pay them that amount, then that will satisfy a mortgage on outstanding lien. You get the word to stop on means that they are stopped from claiming any additional money. As a result of giving you this estoppel statement. This is customarily used to obtain the payoffs and determine the amount, if any, that’s owed to homeowners association pay off existing mortgages. We get the estoppel statement from the lender to say how much money we need to send to them. If there is judgements as to how much needs to be sent in order to have the judgment satisfied as well as any other liens that need to be paid. Estoppel statements are also used whenever you have a landlord tenant situation and you have a statement as have the tenant set forth, how much of a deposit they have, and that they don’t have any claims against the landlord. There’s other instance Estoppels are used for that gives you a flavor or estoppel statements are used and when they’re used. if you have any questions, give me a call at (727) 847-2288.
- Published in Real Estate, Videos