Question about Real Estate in the US ( laws )

[JamesKTusa]

Hi my name is Gigi, I live in NY. I need help, trying to figure out what is the best way to get the money I will collect after a house I inherited gets sold. I am not particularly crazy about creating a bank account in Argentina only to be able to take the money out in US. I'm not even sure if I could take all of it out at once. Is there any other way I could do this? Any suggestions?

Gigi I suggest you start a new thread. And please provide more details. And always verify/confirm the advice received here with 2+ attorneys.
Suerte, Jim

 

[garryl]

Hi my name is Gigi, I live in NY. I need help, trying to figure out what is the best way to get the money I will collect after a house I inherited gets sold. I am not particularly crazy about creating a bank account in Argentina only to be able to take the money out in US. I'm not even sure if I could take all of it out at once. Is there any other way I could do this? Any suggestions?

There are people who can move your $ out for a fee, It sounds risky, but people do that.
The best way is to move it several times by you or your friends who are in/out of the country if the amount is not that big (under 200k us)

 

[garryl]

I am married to an American citizen and we bought a property in the US. I wonder how the laws work there, in case I die first. This is in FL btw. WIll my husband inherit my 50% automatically? or my children? I have one from my first marriage and we are expecting our first
Hope you can give me some rule of thumb answer to understand how things work up there Thanks in advance!

You can do it anyway you like. That's the beauty of owning a real estate in US. Depends how you hold the tile.

1)you can own it together with your husband, if something happens to any of you, the other party takes over the 100%.
(Usually a good way for couples or family members)

2)or you can each own 50%, and have a will, your other children can take over your 50% if something happens to you.
(This is commonly used for business partnes to hold title, or couple who re-married with complicated finances)

Talk to your real estate lawyer or an escrow officer, easy stuff.

This is the advice from a real estate pro in CA -- me.

 

[arlean]

You have been given good advice here regarding Florida, the state of my birth and years of residence and lots of experience with legal stuff. Of course law can change, but the last I knew (about 6 years ago) it was still thia way. if your husband owned it alone and died without a will, you would get half and his children half. But the traditional way is to hold real estate as "joint tenants with rights of survivorship" in which case if either of you dies, the entire property goes to the surviving person without a problem. Not even a court proceeding necessary. It is just automatically yours. Of course if your husband is the sole owner, I would consider it imperative that he have a will, though the law does say what will be done if there is no will.

And here is the disclaimer. I am not a lawyer and all this is strictly for educational purposes--about Florida. If you have other assets in the States, or if you live there part of the year, I think a lawyer and a formal will may well be very important. In the US you can designate how your assets will be handled or distributed in case of your death, and also you would want to cover your wishes for who will have responsibility for your children in case both of you were to die at the same time. I would not want to leave that to the discretion of the courts!

 

[Jaredberryman]

Best way to be sure is to make your will and be done with it. The will is usually binding in the U.S.