Skip to main content

MIL getting stuck with tax till after unknowingly being added to 2nd spouses house deed

I'm looking for guidance on this - any help is greatly appreciated.

My mother-in-law remarried (2nd time) in 2019 to a gentleman who had his primary residence in New Jersey. At the time of the marriage, my mother in law had a condo in PA and the gentleman had a house in New Jersey that he received as a result of this first marriage ending. He lived there for 10+ year before meeting my MIL and has had his daughter living with him during the time the first marriage ended until present day.

They get married in 2019 and my MIL sells her condo in PA to move to NJ with him into a NEW house that they purchase 50/50. Once they move in together in the NEW house, the gentleman's previous house in NJ is "rented" to his daughter where she and her family currently live.

My MIL's marriage to this gentleman is now pretty much over and they are in the process of divorcing. He has decided that he wants to keep the NEW home they both purchased and is willingly to buy her out of the NEW house for 50% of the current appraised value.

The problem is that this gentleman apparently added my MIL to the deed on his original (1st marriage) home without her knowing it. He is now in the process of selling the original home and is claiming that my MIL owes him just under $20k to cover the taxes of the sale of the gentleman's original home. He's claiming he's using a one-time tax exemption on his share of the tax bill that my MIL used when she sold her condo in 2020. So he's saying she's SOL.

She has never lived in the original (1st marriage) house and had no idea she was added to the deed.

Thoughts on next steps? Is this legal?

submitted by /u/RayHanz14
[link] [comments]

source https://www.reddit.com/r/RealEstate/comments/11vj0ot/mil_getting_stuck_with_tax_till_after_unknowingly/

Comments

Popular posts from this blog

Aren't comps/CMAs useless with buyer credits at close happening now?

I'm looking into buying a new construction townhouse in my HCOL US city. I'm seeing builders offering interest rate buydowns worth $20k-$60k on $800k homes (rather than just lowering prices) in order to keep their comps high for their other units, now that buyer demand has been declining. I asked my agent about these, and he said these buydowns aren't even the full story: buyers can write all kinds of other credits into an offer, like their closing costs, prepaid sewer fees, etc. Apparently cash buyers can just write in a "buyer credit at close" for any amount in their offer. So a new townhouse that appeared to sell for $800k in the MLS might have actually been a cash offer with a $100k+ buyer credit at close, meaning the buyer only spent $700k or less in total, but to the rest of the world they can only see the $800k! So that made me realize I can't trust comps/CMAs for other new construction townhouses. The sales prices could be way lower than they appear

Fast Rising HOA Fees on NYC Condo, No Budget Provided

My wife and I are first time homeowners and could use some advice on a situation we've been having with our management company and Board. We bought a condo in Brooklyn two years ago, and since then our HOA fees have climbed dramatically. In August of last year, our fees were increased by ~30% and just yesterday we received notice that this new figure would be increased by 16% as of June 1st. The by-laws for our building state that ten days before such a change goes into effect, the Board must provide unit owners with the itemized budget upon which the new numbers were based. This didn't happen last year, and when I asked the management company about it, they just kept vaguely insisting the Board had done due diligence. After I kept pressing, they finally sent a budget that was several years old, so obviously not the one that the new numbers were based on. When I asked the management company for contact information for the Board to get further clarification, I was told that th

How to create fidelity investments current bank statement for lender during escrow

I transferred a certain amount to my bank account to complete the minimum down payment required. The bank wants a current statement of the transaction. Unfortunately, fidelity only does quarterly statements so a December statement is not available and we are due to close next week. I called fidelity and they they can only provide a letter but the bank said that won’t suffice. Any way I can find or make one of my own that has my account number/name along with all the recent month’s activities? submitted by /u/bodaciousbeans [link] [comments] source https://www.reddit.com/r/RealEstate/comments/zmnnqo/how_to_create_fidelity_investments_current_bank/