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HOA board president asks resident to research regulations regarding ‘no smoking’ measure

Q: Your newspaper article about home smoking policies from last summer prompted me to try to get my homeowners association (HOA) to pass “no smoking” measures in my small development. The board president has asked me to do research regarding which regulatory government I need to contact to push this forward in our organization.

Where do you...Read more

Can you minimize taxes on sale of rental property?

Q: How do I minimize taxes for my parents? They have a rental property and own it without a mortgage. They want to sell it to me.

Here’s the problem: They want the money as a lump sum instead of monthly payments. They also don’t want to undertake a 1031 exchange for another rental property. They will likely use the money to buy a new home ...Read more

Tenant concerned about conservator taking over ownership of aunt’s home

Q: A conservator has taken over my aunt’s house that I have lived in for almost 30 years. I had power of attorney for 20 years, but my name has never been on the deed to the home. The home has a $10,000 mortgage on it. If I pay the rest of the mortgage, would that give me any ownership rights to the home? I am in my aunt’s will to inherit ...Read more

Homeowner concerned about HOA’s possible lack of compliance with disclosure laws

Q: I live in a townhouse development with a homeowners association (HOA). I have, in the past, requested financial information dating back four years and was told that there would be a cost to retrieve the records and the rate to be charged was $100 per hour.

As a retired financial executive, I know that everything requested should be readily ...Read more

What’s the best way for kids to inherit their parents’ home?

Q: Friends of mine put their two children on the title of their house some time ago. The home has no mortgage. The father is now deceased and the mother is now 85 years old.

When the mother dies, the children will become owners of the house. However, I think that they will also inherit their parents’ basis in the house. There will be no step-...Read more

 

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