Real estate transactions can be complicated. In most cases, if all parties remain honest, any bumps in the process of buying or selling a house can be predicted and avoided by a skilled and knowledgeable real estate team. Sometimes, though, unexpected events can complicate owning, purchasing, or selling a house. That's when getting an attorney involved can help you avoid any long-term or costly mistakes that could affect your financial security. H. Clyde Farrell, a certified elder law attorney with Farrell & Pak PLLC, provided us with this list of some of the more common issues that could require the help of a lawyer to navigate.

12 Cases When You May Need an Attorney to Help Buy, Sell or Protect Your Home

  • To clear the title with a probate-avoidance strategy such as a family settlement agreement, affidavit of heirship or deed from a partial owner
  • To clear the title by quickly probating a will or obtaining a judgment declaring heirship, if those procedures can’t be avoided
  • To obtain a release from the Medicaid Estate Recovery Program if the home’s previous owner was on Medicaid and has died
  • To avoid any future claim by the Medicaid Estate Recovery Program if the home’s owner is still living and needs Medicaid
  • To avoid the need for probate with a revocable trust, transfer on death deed or enhanced life estate deed (“Lady Bird deed”)
  • To keep the home in the family even though the owner needs Medicaid, and advise as to how to manage the home in that situation
  • To be sure the owner qualifies for all possible property tax exemptions, school tax freeze and/or deferral of property tax
  • To be sure you avoid capital gains tax (income tax) on sale of the home to the extent possible
  • To advise as to whether a reverse mortgage or home equity loan is a good idea for you
  • To deal with tenants by assisting with eviction if needed
  • To avoid having to pay for unfinished or defective home construction or improvement work
  • To clear title problems not covered by title insurance

If you have any questions about needing a lawyer when it comes to dealing with your real estate holdings or purchasing a home, call the RJF Team at 512.537.4977 to get answers on all your real estate questions. We are here to serve you with all your real estate needs!

 

Information provided by:

H. Clyde Farrell
Certified Elder Law Attorney
Farrell & Pak PLLC
1000 Mo-Pac Circle
Austin, TX  78746
Phone 512-323-2977
Fax 512-708-1977
cfarrell@txelderlaw.com
www.txelderlaw.com