Never Surrender the House in a Divorce

If you're about to file for divorce, think twice before moving out of the marital residence. When the tension is thick enough to cut with a knife, many spouses voluntarily move out of the marital residence. They surrender the castle before considering the consequences of such a move. Many discover too late that surrendering the marital residence will cost them dearly. Judges prefer to keep children in the marital residence. Where both parents want custody and are equally capable of caring for the children, the spouse who remains in the marital residence often times is awarded temporary custody. This often leads to permanent custody.

If the marital residence is ordered sold, the spouse who retains possession often lives in the house for months or even years at the other parties expense. This problem is amplified in these tough economic times as home sit on the open market for years before being sold. While it is possible to draft provisions in divorce settlements to fairly address this inequity, more times than not, this issue is simply ignored.

Because both parties are entitled to remain in the marital residence until a court issues an order to the contrary, it is advisable to remain in the marital residence until you are forced to vacate. Most divorce lawyers say never surrender the castle until you are forced to.

Parties going through a divorce often hide assets for themselves in order to gain an unfair advantage when a Judge divides up the marital estate. Unfortunately courts are reluctant to sanction a party when this attempted fraud is exposed. Consequently, this devious and deceptive practice continues to thrive in American courts.

The most common approach to hiding assets is to merely understate the value of an asset. Sometimes this is done with the aid of an expert witness, who is willing to compromise his or her integrity for a sum of money. Other times it is merely the litigant's personal opinion on the assets value.

A far more sinister approach, however, involves the complete disappearance or non-disclosure of a marital asset. People often empty out their bank accounts just prior to filing and later claim the money was spent on some untraceable expenditure. They also sell assets to friends or family members for a nominal amount in order to set up a sham transaction thereby preserving the asset for themselves once the divorce is finalized. Keep your eye on your eye on your assets, and hold onto that house.

For more information on the best way to handle a house asset in a divorce, please see our site on Geist homes for sale along with details on other options. There are many options to protect your home in a divorce. See more at this web site for more information.

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What Is The Role of Conveyancing Solicitors In House Sales?

The process of selling a property to another person is called conveyancing, this process contains all of the legal requirements to execute a sale. Conveyancing can be quite complicated and therefore legal assistance is normally sought out. Tasks completed during the conveyancing process are; contract drafting, doing searches and looking after all the post-completion paperwork.

Conveyancing Solicitors are required to give you an estimate of their fee and unless they later advise you of a change, their fee must be consistent with the initial estimate. Costs range from about £500 to £1500 [or possibly more if the property is very expensive indeed] depending on the work involved and value of the property, however all Conveyancing Solicitors are accustomed to discussing costs so feel confident about dealing with these up front before you make a decision.

The first step is to make an offer on the property you are interested in and inform your estate agent the amount you would be prepared to pay. If you require a mortgage you need to make an application to your lender at this stage. Once the vendor of the property accepts your offer, their Conveyancing Solicitor will send out a draft contract setting out the terms of the sale.

At this point your Conveyancing Solicitor will:

Check the contract, raise any queries and carry out searches to see what information is available about the property.

Report to you that all is in order and the money is available before arranging for contracts to be exchanged. After this, neither you nor the vendor can withdraw from the transaction and it is usual on exchange for the buyer to pay a deposit which the seller can keep if the buyer defaults.

Prepare a final statement showing how much money is needed.

Arrange for the buyer to pay a deposit on the day the contracts are signed, typically 5 or more per cent of the total sale price.

On completion pay the money to the vendor's solicitor; they then vacates the property and you are free to move in.

Pay any Stamp Duty Land Tax due and register the property in your name at the Land Registry.

Receive the balance of the sale price and hand over title deeds to the buyer's own Conveyancing Solicitor.

In addition, your Conveyancing Solicitors will:

Advise you if anything unexpected happens during the sale process and handle any price negotiations.

Assist you in the completion of forms detailing information about your property, its fixtures and fittings.

Obtain your title deeds and land registry copies.

Deal with the requirements of your lender in all mortgage cases and liaise with estate agents and surveyors to ensure that everyone works together to complete your house sale or purchase.

Buying a house is probably the most expensive transaction you will ever conduct - don't cut corners - make sure your appoint specialist Conveyancing Solicitors who can guide you through the whole conveyancing process with expertise.

If you need a conveyancing solicitor then contact Bonallack & Bishop. They are a firm of Andover Conveyancing Solicitors. Senior Partner Tim Bishop sees himself as a businessman who owns a law firm. He has expanded the firm by 1000% in 13 years.

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Can A Bailiff Enter Your House

If you are under the impression that a Bailiff is coming to your home, you do have some rights.

If your doors and windows are locked, they cannot enter your house. They will need your permission to enter, if however a door or window is unlocked, they do not need your permission, and they can climb through an open window for example. Once they are inside they can then force themselves into other rooms in the house, even if those doors are locked.

Remember that if you do refuse them entry, they will return and the problem will not go away, also once the bailiff enters your home peacefully, they can return at a later date and enter your home without your permission and force entry into other parts of your home or property. You need to seek advice from a qualified agency.

Once they have entry, they cannot remove items that are necessary for day to day living and they must leave your premises secure. A bailiff acting under a county court judgement cannot take clothing, bedding, furniture required to live, also they cannot take books, tools vehicles etc. that are necessary for employment. A bailiff acting under a VAT or Poll Tax order might be able to.

No bailiff can remove articles that belong to another person, however if an article is partly owned by the person named in the warrant, they are able to remove it. All goods seized by a bailiff must be put to auction and they are under legal obligation to get the best possible price for them. This does not mean that the articles will sell for what they are worth, they are used articles and will, in all likelihood sell for a fraction of their true value.

A bailiff cannot threaten you or act belligerent towards you. If they do, you can contact the creditor or court that sent them. They cannot break into your home however they can enter through an unlocked door or open window, if you are thinking a bailiff might be coming then you should keep all doors and windows locked. If served by a bailiff contact your CAB for help and advice. Try and have a second party there so that they can witness any behaviour or words said that may be offensive or threatening. Most bailiffs will not act this way but some may try to intimidate.

Kevin walker is the owner of http://www.mymoneycredit.com/ which compares pay day loan and other various lending sources.

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Hawaii Probate - How to Sell an Inherited House for Cash

Aloha. Does this scenario seem familiar? Your grandfather or other close ohana member recently passed away and you inherited the house after going through the lengthy Hawaii probate process. You have mixed emotions right now. Of course, you're sad from the loss but you might also have inherited some sizable assets, house included. The truth hurts, but you need to know that inheriting a house in Hawaii may be more of a liability than an asset.

Why is this, you're wondering? There a few items you must consider...

For one thing, estate taxes are no small matter. They can be absolutely crippling in Hawaii where it's not uncommon for a single family house to be worth over $1 million. Furthermore, the estate tax rate and exemption caps are ambiguous in Hawaii, seemingly dependent on whichever law is currently on the lawmakers' desks. This means you may get hit for a higher amount than you planned on. Talk to a few local probate attorneys, and they'll likely concur.

You might also have inherited a house that needs significant repairs -- again, not unusual in Hawaii. Many homes here built in the 1970s or earlier have significant wood and/or termite problems and are in general disrepair. Do you have the cash to bring it up to modern standards? To convert an 'old Hawaiian' style home where bedrooms lead to more bedrooms? To fix an old roof, paint the exterior or finally get the wood rot fixed for incoming tenants?

Tenants, you say? Well, if you aren't planning on moving in yourself, then someone has to live there, right? Are you ready to be a landlord? Not everyone is. Many people dread the thought. Hawaii certainly has its share of evictions brought on by unruly or non-paying tenants -- think areas like Waikiki, UH or HPU students, etc.

Along these same lines will be continued maintenance costs even after the initial renovations and upgrades. Add these to property taxes, greater insurance bills and Hawaii's skyrocketing electric utility rates, and you have a significant endeavor on your hands.

Are you ready for all of these costs and requirements? Or would a direct CASH sale putting money in your pocket right away be an easier solution? But before we get to that...

The previously noted taxes are entailed in the Hawaii probate process. This is one of the most common yet least understood types of legal proceedings because it encompasses financial matters and settlement which pertain to an individual's estate after death. All real estate property in Hawaii valued over $100,000 must pass through probate, except in rare circumstances. As noted above, this includes paying tax liability or debts, collecting amounts due to the estate and identifying the legality of the last will and testament of the decedent. If there is no will found, the process of probate usually includes an equitable asset division among the deceased person's heirs. You can contact the Oahu First Circuit Court directly at (808) 539-4399 for more information on the schedule of proceedings or visit their site here. You may also click here for the Hawaii uniform probate code.

The probate process is a very lengthy one, possibly lasting months, a year or even longer to completely inventory and evaluate all of the assets that belong to the estate. This usually includes life insurance policies, investments, bank accounts and real estate. Some assets such as real estate holdings, motor vehicles, antiques and others may require professional appraisal of their real value before they are added to the estate's total worth. The process can be further delayed when there are heirs both in Hawaii and on the mainland, especially when there is infighting among inheritors, an unfortunate yet common situation.

See? Inheriting a house in Hawaii could really be more of a liability than an asset due to the taxes which need to be paid as entailed in the Hawaii probate process as well as the timeframe and headaches attached to the event. The sheer price point of Hawaii real estate props up the asset value but also the potential costs -- such is the nature of one of the most expensive states in America.

How to Sell an Inherited House for CASH

If your inherited property should require probate, then your options when it's completed include:
Selling to a Hawaii real estate investor for quick cashRenting out the property for cash flowMoving in yourself

If you decide to sell an inherited house to an investor, you will have several possible benefits such as:
Selling direct without paying any realtor feesClosing in 30 days or less instead of a lengthy MLS listingNot having to make any repairsHaving immediate cash to pay off the estate taxesHaving the property pulled out of the probate case (by your attorney) for immediate liquidation

Selling your house in Hawaii direct to an investor buyer is often the quickest way to get cash while sparing yourself the delays and frustration of a typical sale and the continued emotional stress of handling a loved one's estate.

If this is the route you want to take, then here are the steps you need to follow:
Locate a Hawaii real estate investor. You can find them and others on Google or Facebook.
Discuss with them the nature of your property and sale. The most important details are: condition of the property, remaining debt on the property, current status of any probate, and what you expect or need to profit from the sale. Location is also important as some investors will not be interested in areas far from Honolulu where buyers are fewer, such as the windward stretch between Kaneohe and Kahuku or the west side from Nanakuli to Makaha (Oahu). On the Big Island, as of this writing, parts of Hilo are tough as the market is depressed. Parts of west Maui might also have fewer buyers. However, you never know until you discuss it with them.
Arrange a property visit and/or inspection with the investor. They will assess their renovation costs, either on their own or with a local handyman or general contractor. Keep in mind that renovation costs in Hawaii are normally higher than on the mainland.
Do your own research on what you feel the property is worth in today's marketplace. Lookup online sales in your neighborhood of similar properties in comparable conditions. The investor will do the same before preparing a CASH offer.
Negotiate with the investor on final price and terms. Seller financing in Hawaii is often popular in probate scenarios as it gives the inheriting party a chance to net more funds on the large price points than in a traditional sale.
If a probate attorney is already involved, then inform the attorney you have a cash offer. They should be able to help you and the investor expedite the sale for the benefit of all parties.
Sign the purchase contract, open escrow and proceed towards closing.
Get paid. Congratulations! You've just sold your inherited house in Hawaii. Aloha!

Big Rock Investments, LLC, is a Hawaii real estate solutions and investment provider here in the Aloha State. We buy, sell, rehab and wholesale residential property right here in the islands. We specialize in helping people in trouble solve their real estate problems, whether they need to stop foreclosure on their Hawaii house or sell a distressed property quickly for cash. We also put these properties back on the market either fully rehabbed or in their current condition at discount market prices, creating equity-driven Hawaii real estate investment opportunities. Additionally, we offer a very attractive private mortgage lending program where your money works hard for you, earning a very fixed high interest rate with the safety of a recorded private mortgage.

We are mentored by the real estate professionals at CTHomes and FortuneBuilders who you may have seen on A&ETV's hit show "Flip This House". They are our coaches, our partners and our friends. Their business model is our business model and we're proud to bring their success in helping people solve real estate problems right here to Hawaii.

Visit http://bigrockinvestments.com/ or call (808) 377-4379 for more information!

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