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Started By
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re: Property issue
Posted on 9/6/18 at 6:08 pm to TigerDat
Posted on 9/6/18 at 6:08 pm to TigerDat
quote:
take a piece of it now to build on as an act of donation
They can’t donate something they don’t own free and clear.
They would need to refinance and have the portion you are building on excluded from their new mortgage.
1
Posted on 9/9/18 at 12:25 pm to MikeBRLA
quote:
They can’t donate something they don’t own free and clear.
They would need to refinance and have the portion you are building on excluded from their new mortgage.
You always give the worst advice on RE and construction issues because you have no idea WTF you are talking about.
OP, you can have your parents survey out what they want to donate to you and ask the mortgage company what it would take to satisfy them and issue a partial release for that property. You might have to come up with some funds depending on the value the mortgage company places on that land.
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