5,774,100
Heidi,
Everyone has given you good answers, and sometimes the buyers should consult their CPA and attorneys as to what would be best for them financially and from an inheritence standpoint. A
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Alix Hurtado
North Ogden, UT
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Nina Hollander, Broker
Charlotte, NC
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Candice A. Donofrio
Fort Mohave, AZ
3,416,372
That is a legal question, i usually give them the choices, explain them to them but let them know they should ask the attorney regarding the legal options of each.
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Nina Hollander, Broker
Charlotte, NC
5,483,927
Knowledge is one thing. Offering legal advice another.
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Nina Hollander, Broker
Charlotte, NC
2,443,346
The title company takes care of this in our market.
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Nina Hollander, Broker
Charlotte, NC
1,580,843
I don't give this kind of advice. I always send them to an attorney for this kind of information. That said, I know what the options are.
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Nina Hollander, Broker
Charlotte, NC
3,988,138
It is good to know this information but as an agent you shouldn't tread into giving legal advice about how to take title. You can ask questions though and take instruction from the client
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Nina Hollander, Broker
Charlotte, NC
1,101,089
Do you mean ways to hold title? HUGE. Tax, estate, legal implications. BUT. Outside our scope. We should know what they are in our state. What a consumer should choose is between them and their legal/financial expert.
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Nina Hollander, Broker
Charlotte, NC
1,262,452
They did not have that question when I took the exam.... Sorry.
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Candice A. Donofrio
Fort Mohave, AZ
8,152,268
The form of ownership should best meet the needs of the purchasers. This varies from state to state.
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Candice A. Donofrio
Fort Mohave, AZ
3,986,473
You need to know the form of ownership so you get the right people to sign off on the deed.
Best way to decide ownership depends on state and circumstances of the buyers
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Candice A. Donofrio
Fort Mohave, AZ
6,687,723
979,796
Heidi - I believe types of ownership can vary by state, but here in Arizona, that is determined with the buyer and the title and escrow company. If the buyer has additional questions that title can't answer, I would refer them to their CPA, or a Real Estate Attorney.
It is not for me to decide how a buyer should take title of a property.
1,685
It's Very Important to Know the Very Different Forms to Real Estate Agents Because They are the One who Speak Directly to customer and Investors Alike Seeking to Purchase Real Estate Etc. Real Etstae Agents, An Educated Investor and Real Estate Lawyers are consider Expert on Real Estate Form. The Best Way to choose a Form Of Ownership would be according to what your trying to purchase /. Own!!
1,751,837
The options for the forms of ownership can vary by state, so it should be addressed by a board-certified real estate, or trust attorney in your state. Once you are practicing, be sure to not advise your clients on the best form of ownershipo for them. Instead, refer them to a qualified attorney.
4,738,522
We need to know but not recommend. His/her/their financial advisor is the best source for the answer for a buyer(s) -- each situation is different.
3,074,389
Here in Arizona that is a discussion between Title & Escrow and the Buyer, and if the Buyer needs additional information then they are directed as Ron and Alexandra Seigel state.
5,115,938
I understand them because I teach real estate courses. With that being said I would never tell a buyer how to take title. I would refer them to a real estate attorney.
For your real estate course If you have a specific question about ownership email me richard@allstarhomegroup.com and I will try to help.
933,148
It can depend on how the buyers are related. Are they married? Is it an LLc partnership? etc. Joint Tenancy? Tenacy in Common? etc. Buyers should discuss with title attorney and accountant.
5,312,845
You need to have some basic knowledge, but I don't advise clients on this... for me that's a legal issue they need to review with the closing attorney.
4,434,227
2,538,789
Good morning Heidi. All situations are different, there is no one size fits all. So, the agent or loan officer should be able to assist their client.
2,759,862
Good Wednesday morning Heidi. The week after next, I plan on starting real estate school. I will soon find out.
1,650,442
I have a great title rep who patiently explained me all and if I have any more questions , I call him or/and send my clients.
Call a title rep in your area directly and ask to explain you whatever you want to know. I'm sure, they would be happy to.
2,234,859
Do you mean the form in how someone wants to take title to the property or how the real estate is held...like is it fee simple, or is there a life estate?