Building fence for a rental property?
We are from Washington State, with a property in Sammamish, WA that we are renting out. A prospective tenant asked if we can build a fence around the back area since he owns 2 dogs. Is landlord fully responsible to bear the cost or tenant is partly responsible since he is the person requesting for the fence to be built?
Can a dad take a loan on a property if the kid is a minor in India?
A property owner can take a loan against is unencumbered property, irrespective of the fact whether he has a minor kid or notHowever, if the the property is owned fully or partially by the kid ( possibly by inheritance) then he has to give evidence to the lending institution that the proceeds of the loan would be used for the benefit of the minor.
We were given a large amount in inheritance, how much should we put towards our down payment?
Put 20% down to avoid having to pay for mortgage insurance. Beyond that, it depends on your other options for using your money. If you can invest it safely to earn more than the mortgage rate, you do so. If your money sits in the bank earning nothing or you fear you would blow it all in spending binges that you later regret, 100% down is a very good option. There would be no monthly payment to make, and you can always borrow on the house if you need to.
How should I spend or invest a 175K Inheritance?
1. pay off the credit card 2. pay off the car loan 3. put the money you don't need for the very short run in a good money market fund for what may be the short-term. pay the minimums on the student loan. Don't go for the cheesy brokerages.. go with someone like Schwab or Fidelity.. they will let you keep your reserves in money market funds and trade for other things like stocks, mutual funds, etc., whereas the cheesy brokerages won't. Don't keep over 100k in one account in case you decide to withdraw money from the funds if the world is going to hell in a handbasket (unlikely, but hey..) 4. find a nice wife (spell out finances before marriage,, state rules on marital property vary) umm.. by the way, you didn't mention your state.. ;) 4. outrightly or partially buy a house 5. have kids 6. diversify in good mutual funds if the market seems stable enough 7. dabble a little in some riskier stocks 8. keep working until/unless you strike it rich in stocks or otherwise 9. live happily ever after
Can a person move into my jointly owned home without my permission?
If they have the permission of the person with whom you jointly own the property, then most likely yes (though that could vary depending on your jurisdiction).Part of the nature of joint ownership is that you lack complete exclusive control over the property. Absent other issues (e.g. a restraining order), joint owners share the ability to invite guests.
PLEASE PLEASE PLEASE HELP ME WITH PERSONAL FINANCE I WILL GIVE POINTS THANKS :) !!!?
Real Estate and Other Investments 1. What can be the best type of safety net in hard times? (1 point)Gambling Mortgage Rental property None of the above 2. Generally, you need to live in a home ________years to break even on closing costs. (1 point)One Two Three Four 3. What is generally the most complicated financial transaction the average American will ever undertake? (1 point)Buying a boat Buying a car Buying a home None of the above 4. Real estate is considered a/an ________investment. (1 point)Illiquid Liquid Sure Partially-liquid 5. Individual mortgage interest rates are generally determined by what? (1 point)The economy The individual's credit score The property value The state the property is located in 6. What is PMI? (1 point)Personal mortgage issuance Personal mortgage investment Personal mortgage insurance Personal mortgage interest 7. Who dictates how much insurance a homeowners must carry on their property? (1 point)The state the property is located in The bank that holds the mortgage The owner None of the above 8. Assuming you have a 30-year fixed-rate loan, you're paying _____% interest during the first few years. (1 point)90 80 70 60 9. Why is investing in gold beneficial? (1 point)It is easy to mine. It is considered a stable investment. Gold is more expensive than stocks. The value of gold is subject to inflation. 10. What type of insurance may a homeowner need? (1 point)Hurricane insurance Flood insurance Firestorm insurance All of the above
How does my eventual inheritance work? My Dad has ~$1.5mil in his IRA and home equity and assets, my grandparents were relatively early investors in Apple, and my uncle and godfather work(ed) in banking.
Let me tell you a little story. Back when I was a new teacher, I was putting $800 a month away into a retirement account. A happy little investor, squirling my money away. My father came to me and asked how I was doing. I told him all the bills were paid, and I was putting away $800 a month. He said, “It seems to me that you are likely to inherit a few million from me, I’m doing very well. You should cut back on that, and enjoy yourself. Make life a bit easier.” So I did. Here and there, I put away, when I could, and I enjoyed myself when I could. As it turns out, my mother got sick, and was sick for a few years before she died. My few million of inheritance is a few hundred thousand. I have saved a few hundred thousand, and as a Teacher, I am due a pretty decent pension. If I hadn’t followed my father’s advice, and continued to put away, I would be set to retire in about 2 years. Now I am set to retire in about 7. I would be able to live comfortably without his money. Now I will be able to retire without it, but will be much more comfortable with it. I wish I had saved more, but I didn’t. I wish I had invested more, but I didn’t. In the end, I have what I have. I’ve told my kids that they will receive nothing from me. My plan is to have everything liquidated upon my death and the money invested for 300 years. When it is up to a few Billion dollars in today’s money, I will endow a new university based on my beliefs of what a university should be. If my kids want to retire, they had better take care of it themselves. My father has put away money for each of his grand kids to go to College, but not enough to pay the full thing. I’ll help a bit. Their mother will help a bit. They will borrow some, and then get to work.Don’t count on money coming in from inheritance. You may get it, you may not. It may be spent, it may be used for charity, it just may not be there. Get out there and work for your own. If you get something, it is a sad remembrance. If you get nothing, you are alive, healthy, and making your own way.
What to do about occupancy permit violations?
Your MA. home requires a Certificate of Occupancy! This is not an unknown situation to find yourself. This is not an uncommon situation to the Building and Safety people either. They tend to work favorably with purchaser "victims". Generally, you will be required to bring your home up to present standards. 1. You are responsible to bring the property up to Code requirements. 2. The town and all government authorities will have immunity from an law suits you might bring. 3. Check the paperwork with your real estate agent and determine if the prior owners (the sellers to you) made any representation that improvements were legally made. representing the home as having X bedrooms and Y bathrooms or covered porch may be a fraudulent representation if those rooms are not constructed according to code and they knew or should have been aware of construction defects. 4. This should be more time consuming and exasperating than out of pocket costly to resolve with the City and matters a handiman might complete. Be ready to negotiate! 5. If costs do become burdensome you do need a litigation attorney with real estate/construction understanding. This can be very expensive and your recovery of costs in MA. is doubtful. In this type of litigation, your Court is likely to make each side bear its own costs.
I've a £150,000 inheritance. I'm 46, unemployed, live in a council house, married, 2 children, no debt, no savings. What should I do with the money?
I’m with Albert Dock on this, the first thing you need to do (assuming that you are claiming JSA/ESA or similar) is see the CAB and check what you can and cannot do with the money.You may want to consider contacting the DWP as well, but I would suggest that you may be better off getting the CAB to write them a letter explaining your circumstances.Back in 2009, my parents died 6 months apart. As the executor of their wills, I was responsible for just enough money to take me over the then £6000 limit. I informed the DWP what was happening, and that the bulk of the money had been, or was going to be going on funeral expenses and gifts to other family members (even sent them copies of the wills).I spent 8 months with my Income Support stopped because I briefly had “too much money”, and the DWP thought I had “been deliberately spending it to permit myself to claim benefits” - even though most of the spending had been for 2 funerals.The DWP demanded bank statements for the year prior to my mother’s death, and they went through my finances with a fine-toothed comb. I receieved letters stating I had “falsely claimed benefits”, demands for refunds of said “falsely claimed benefits”, by the end I really began to feel guilty, even though I had been totally honest from the start.Trust me, you do not want to make that mistake, if the DWP think you have money and are spending to allow you to keep claiming benefits, they will hunt you down, and they will not let go.Whatever else you do, however you decide to gain any income from what’s left of the inheritance, make sure that you spend it on things you can justify, because you will need to justify everything.