Renovations Tax Credit
April 19th, 2009
Question: Home for sale by owner question?
My father is currently living in a home that is “owned” by my sister’s soon to be ex-husband. My father has lived there for two years, paying the mortgage, taxes, insurance and has put about 20K worth of renovations into it. We are in Texas by the way. Now that my sister and her husband are about to go through a divorce, I was wondering what could be done to secure the house so he wont take it away. The verbal understanding was that when my father was credit worthy enough he would take out a mortgage at the current owed balance. Even though my brother in law says he wont mess with the house, his parents are very spiteful and may talk convince him other wise. Please help.
Answer: If your brother in law is on the deed it is his property, your father is only a renter. If he owned it before your sister married him she has no claim, she owns half if it is after.
If he bought this house after they were married the house has to be settled in the divorce.
Verbal agreements are not even admisable in court for real estate, so if your father is planning to try and steal the property he has to come up with a signed contract.
Building remained robust in Nickel City during 2009
New multi-unit residential, residential renovation, and commercial construction activity remained at high levels throughout 2009. The City of Greater Sudbury’s latest building permit statement summarizes the number and value of building permits issued to Decembe 1, 2009.[...]
casa GURU TV – Understanding the 2009 Renovation Tax Credit
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