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Month: July 2019

  • Marital Property Law vs. Common Law: a Financial Factor in Real Estate

    Reader Question: My name is not on the deed of our home. My spouse put the house up for sale after 22 years. Am I entitled to half the profits of the deal? Monty’s Answer: Ten states embrace marital property law. During a marriage in these states, all assets and debts acquired are “community property.”…

  • All real estate referrals require due diligence

    Reader Question: We sold our home and moved to a different state. Our old agent helped us find an agent in our new city. We have gotten to know this agent and become friends. He told us our former agent made the connection for a fee. He called it a referral fee. Our old agent…

  • Avoiding bombshells over permits when remodeling, buying, or selling a home

    Reader Question: Back in 2001-2002, we remodeled our home without a permit. We didn’t know it was required. Now we want to sell, and the question is on the seller condition report. Is there any way to overcome that issue now? Monty’s Answer: Permits can be a challenge for several reasons; ordinances change over time,…

  • Investing In Blacktopping Can Be Tricky

    Reader Question: We are not selling our home anytime in the foreseeable future. We are wondering how much the value of our property will increase if we invest in blacktopping our gravel driveway? Monty’s Answer: Blacktopping your driveway may or may not increase the value of your property. Because certain variables impact the desired outcome,…

  • Protect Yourself When a Tenant Dies In Your Building

    Reader Question: We own a 24-unit apartment building. We have an eighty-eight-year-old tenant with no next of kin according to him. When he passes on, what are we to do with his belongings? He has nothing of any value; his biggest asset is a twenty-year-old car. Whom do we notify? He seems healthy and active…