4.19.2006

REAL ESTATE FRAUD PROBLEM IN MICHIGAN

http://www.freep.com/apps/pbcs.dll/article?AID=2006604150320

This article is a great example why a couple hundred dollars paid for a consultation with a Lawyer can save you thousands in avoiding litigation.


Build in the costs for the attorney in the cost of purchase or refinance the home because it will pay off in the end.

4.11.2006

JOINT OWNERSHIP AND LOVE GONE BAD

If you and your Boyfriend or Girlfriend are considering purchasing real property and title it as Joint Ownership with Rights of Surviorship.

BE CAREFUL!!

This ownership interest in Michigan is indestructible unless all the names on the title agree to it. If you die the interest AUTOMATICALLY BY OPERATION OF LAW would go to the other name or names on the deed regardless of any will or other estate planning mechanism.

4.05.2006

HOUSE IS NOT IN MY NAME

A constant theme I have is of clients worrying that their name is not on the title of the house.

Most clients are saved because if any marital funds were used to purchase the home or even imporove it and increase the equity, then the house becomes a marital asset and becomes part of the marital estate to be divided equally.