Do I inherit my father's burden that comes with the house (attorney, tenants)

[theresa70]

thanks but how do I find out about if I pay any past estate taxes? the LL Laywer had no clue, supposedly, and either did the Laywer that advised me to tell the tenants to move. and they showed proof that my father was collecting rent from them and that he was in contact with FEMA in regards to doing so

[anders]

Originally Posted by theresa70

thanks but how do I find out about if I pay any past estate taxes? the LL Laywer had no clue, supposedly, and either did the Laywer that advised me to tell the tenants to move. and they showed proof that my father was collecting rent from them and that he was in contact with FEMA in regards to doing so

If your lawyer isn't adept in that area, it's his responsibility to find someone who can help you -- so that everyone's on the same page and you don't have to do the legwork or throw darts at a phonebook.

You're dealing with several intertwined issues: evicting current tenants; correcting an illegal conversion, with all of the permits and construction involved; and rental-related issues that accrued before you acquired the property. This shouldn't be dealt with piecemeal.

If the lawyer drags his feet re: referrals -- you _might_ consider using your father's past attorney (say, whoever dealt with his will or property); or the attorney who handled probate and estate closing; or contacting the local voluntary bar association for a lawyer referral -- Brooklyn Bar Association (Brooklyn Bar Association - Home), Queens County Bar Assn (Queens County Bar Association), or whatever location is relevant.
Emphasize -- to your current lawyer, and anyone else -- that this isn't just a one-issue thing, but involves un-converting a conversion, plus possible tax/estate/other complications.

Also -- I'm not sure what you mean by past estate taxes.
To be simplistic: When Joe Doe dies, he becomes a "legal person" known as Joe Doe's Estate.
"Estate tax" is based entirely on value of assets/property that Joe owned when he died. Joe Doe's Estate must pay estate tax -- if applicable, based on the estate's value. However, that asset-based estate tax isn't the same as property, income, and other taxes that Joe Doe's Estate might owe (and which normally are paid out of the estate, before the assets are distributed to heirs).

But those specifics aren't really relevant or addressable here: Bother your lawyer, and get referrals to those who can deal with this.

[theresa70]

what I meant by past estate taxes is that the money a landlord makes when renting out an apartment has to be claimed as money made from that property. my father did not do that and now the tenats can prove that he did collect money from the property, he even took money from FEMA (that's the scary part) and that was money he had no entitle to.

it's my assumption and an accountant agreed that I would have to pay the back taxes of that and I was wondering how severe that would be

[mathjak107]

no can answere that for you.... if theres a way you can take the house, move yourself in and stay put for 2 years you can just take the apartment back on those grounds..... i had a tenent that fell behind in rent and i wanted her out... rather then evict her for non payment and risk the judge letting her give me 1/2 the rent and stay we went about it another way..

my son decided to take the apartment so we got her out on those grounds,,, its a little tricky to do and you will need a process servor and an attorney who knows how to deal with these issues as all the details have to be done to the letter of the law. no problem getting her out on those grounds... im just not sure about all those little details with fema

[mathjak107]

Originally Posted by anders

If your lawyer isn't adept in that area, it's his responsibility to find someone who can help you -- so that everyone's on the same page and you don't have to do the legwork or throw darts at a phonebook.

You're dealing with several intertwined issues: evicting current tenants; correcting an illegal conversion, with all of the permits and construction involved; and rental-related issues that accrued before you acquired the property. This shouldn't be dealt with piecemeal.

If the lawyer drags his feet re: referrals -- you _might_ consider using your father's past attorney (say, whoever dealt with his will or property); or the attorney who handled probate and estate closing; or contacting the local voluntary bar association for a lawyer referral -- Brooklyn Bar Association (Brooklyn Bar Association - Home), Queens County Bar Assn (Queens County Bar Association), or whatever location is relevant.
Emphasize -- to your current lawyer, and anyone else -- that this isn't just a one-issue thing, but involves un-converting a conversion, plus possible tax/estate/other complications.

Also -- I'm not sure what you mean by past estate taxes.
To be simplistic: When Joe Doe dies, he becomes a "legal person" known as Joe Doe's Estate.
"Estate tax" is based entirely on value of assets/property that Joe owned when he died. Joe Doe's Estate must pay estate tax -- if applicable, based on the estate's value. However, that asset-based estate tax isn't the same as property, income, and other taxes that Joe Doe's Estate might owe (and which normally are paid out of the estate, before the assets are distributed to heirs).

But those specifics aren't really relevant or addressable here: Bother your lawyer, and get referrals to those who can deal with this.

I think hes getting confused between estate taxes and the estates income taxes ... estate taxes are whats paid when the value of all the assets exceed 2 million dollars right now... the estates income tax is the tax return your father would have had to file for his income tax and since hes not here someone has to do it on his belhalf.....

its to complex to explain here nor would i try since im not a lawyer but usually when a parent dies if the house isnt in a trust or already has your name on the deed then it goes thru probate.... the court will issue you a document that says all estate taxes if any were paid , but not income taxes and with that document you can have the deed put in your name....

[Huckleberry3911948]

hire a property manager and do an eviction.
if however you are willing to have "shared housing" you can do a shared housing arrangement with them and have one heck of a writeoff. you can get a contractor and a permit to correct whatever is not up to code with your dad's house. with or without anybody else living there. but shared housing is most always legal good and a huge tax writeoff. never attempt to convert a house to a duplex with the city, a nightmare experience lots of zoning laws.

[mathjak107]

its almost a moot point for us to try to offer any ideas with out knowing all of the above and more

[mathjak107]

Originally Posted by Huckleberry3911948

hire a property manager and do an eviction. however smarter move
is contact a contractor and the city, get a permit make the corrections and let them stay in a legal place use the rent to payoff the the construction and you will have the appreciation of the tenants and everyone else plus you get some cash eventually and tax deductions forever.

oooh noooo not the tax deduction thing again.... those deductions arent a benefit , they are merely expenses that get subtracted off your rental profits.


if you theoretically had no deductions then 100% of the rent would be profit but taxable.... if say you had 50% of the rent as deductions you would have less taxable income but less income overall toooo.. the deductions take money out of your piggy bank not add to it

[theresa70]

Originally Posted by mathjak107

its to complex to explain here nor would i try since im not a lawyer but usually when a parent dies if the house isnt in a trust or already has your name on the deed then it goes thru probate.... the court will issue you a document that says all estate taxes if any were paid , but not income taxes and with that document you can have the deed put in your name....

so I guess I would have to pay the income taxes not claimed?

[mathjak107]

not a question for us to answere for you...sorry