When selling a home/58 due on mortgage that my daughter and sonin directive owe me how do I pedal their gift??
Answers:
Your query really isn't clear. Are you saying there is a mortgage harmonize of 58k? Are your daughter and son-in-law paying you or the mortgage lender? What's their interest rate? How have you been getting money from them contained by the past? Need more details if you're going to get a honourable answer. :)
do u have written proof ? yes - put lien on house.
NO? hope they actually recompense u.
sorry.
when they pay u just put the money away within a safe account.
it is not a taxable income. Source(s): biz owner
If you hold the mortgage on the property for 58K, you should get a check from the escrow company at close. Deposit it in your sandbank account and thank God you got it backbone!
I'm not sure I understand what you are asking.....do they have $58 thousand, or newly $58? or what??
If they're ready to close on the sale and you do not own anything proving the debt on file with their county clerk's department. then you need to profile a Notice of Pendency (of your intention to file a law suit to collect the debt) beside that county clerk. You should really see a lawyer to get this done against the clock. At the closing on the sale you can be there to sign doesn`t matter what document the Buyer needs to get clear title to the property within return for a Bank Check Payable To You.
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