Flow
Flow
Flow
TriniTuner.com  |  Latest Event:  

Forums

any LAWYERS in here? want an idea of a costing

this is how we do it.......

Moderator: 3ne2nr Mods

nightcrawler
Sweet on this forum
Posts: 351
Joined: March 27th, 2006, 11:22 am
Location: Behind U

any LAWYERS in here? want an idea of a costing

Postby nightcrawler » October 21st, 2013, 3:36 pm

here's the scenario , presently house and land are presently in my parents name
i need it transferred to my name
what documents do i need besides the deed
and an idea of what kinda cost i looking at
thanx

User avatar
Duane 3NE 2NR
Admin
Posts: 28778
Joined: March 24th, 2003, 10:27 am
Location: T&T
Contact:

Re: any LAWYERS in here? want an idea of a costing

Postby Duane 3NE 2NR » October 21st, 2013, 3:39 pm

^ I'm no lawyer but the cost would vary alot depending on if your parents are in agreement with the house and land being in your name and not theirs! :)

nightcrawler
Sweet on this forum
Posts: 351
Joined: March 27th, 2006, 11:22 am
Location: Behind U

Re: any LAWYERS in here? want an idea of a costing

Postby nightcrawler » October 21st, 2013, 3:51 pm

full cooperation, they told me to get a lawyer to do it, seeing that we dont have a "family" lawyer

User avatar
nemisis
punchin NOS
Posts: 4360
Joined: February 26th, 2010, 10:09 am

Re: any LAWYERS in here? want an idea of a costing

Postby nemisis » October 21st, 2013, 4:03 pm

When you get the info update the thread

pugboy
TunerGod
Posts: 29407
Joined: September 6th, 2003, 6:18 pm

Re: any LAWYERS in here? want an idea of a costing

Postby pugboy » October 21st, 2013, 4:04 pm

might have to pay stamp duty on something

User avatar
shottah_crew
Chronic TriniTuner
Posts: 513
Joined: January 24th, 2008, 4:47 pm
Location: Point Fortin
Contact:

Re: any LAWYERS in here? want an idea of a costing

Postby shottah_crew » October 21st, 2013, 4:09 pm

Depends on value of house+land and the attorney. Different lawyers charge different prices.

Can be anywhere from $4000 to $8000 or more depending

User avatar
Biggs3ne
3NE2NR is my LIFE
Posts: 840
Joined: May 14th, 2008, 7:02 am
Location: Running the Rat Race

Re: any LAWYERS in here? want an idea of a costing

Postby Biggs3ne » October 21st, 2013, 4:15 pm

Depends on lawyer indeed...takes a while as well...Shottah Crew's estimate seems about right...the cost won't deviate much from that range if at all

User avatar
cinco
TriniTuner 24-7
Posts: 18211
Joined: January 6th, 2006, 3:21 pm
Location: Does this rag smell like chloroform to you?
Contact:

Re: any LAWYERS in here? want an idea of a costing

Postby cinco » October 21st, 2013, 4:27 pm

U have to get the house appraised and pay any difference in taxes before u can get the transfer done

User avatar
shottah_crew
Chronic TriniTuner
Posts: 513
Joined: January 24th, 2008, 4:47 pm
Location: Point Fortin
Contact:

Re: any LAWYERS in here? want an idea of a costing

Postby shottah_crew » October 21st, 2013, 5:10 pm

Last set of taxes was 2009...wouldn't be much to clear off if any at all. Gotta have the valuation done tho. Once there's a house, there's a stamp duty exemption to a certain value. Some attorneys organize valuation too.

But don't let us ruin the surprise, go pay your consultation and leh ah lawyer eat ah food too nah. ;)

neilsingh100
3NE2NR is my LIFE
Posts: 768
Joined: November 20th, 2007, 9:09 am

Re: any LAWYERS in here? want an idea of a costing

Postby neilsingh100 » October 21st, 2013, 5:57 pm

This is how inheritance works if your parents have no will.

Image

User avatar
pete
3NE 2NR Moderator
Posts: 9836
Joined: April 18th, 2003, 1:19 pm
Location: Cruisin around in da GTi
Contact:

Re: any LAWYERS in here? want an idea of a costing

Postby pete » October 21st, 2013, 7:46 pm

In this country it is much much better to get them to transfer the land and any other assets to you when they are alive than waiting for the will.

AdamB
12 pounds of Boost
Posts: 2234
Joined: November 7th, 2010, 4:26 am

Re: any LAWYERS in here? want an idea of a costing

Postby AdamB » October 21st, 2013, 8:58 pm

you need a valuation but check a lawyer first who will recommend a suitable valuator that will value to the lower end of the scale so that your stamp duty will be lower.

bluefete
TriniTuner 24-7
Posts: 14687
Joined: November 12th, 2008, 10:56 pm
Location: POS

Re: any LAWYERS in here? want an idea of a costing

Postby bluefete » October 21st, 2013, 9:17 pm

nightcrawler wrote:full cooperation, they told me to get a lawyer to do it, seeing that we dont have a "family" lawyer


Dey better put that in writing, oui!!

Can this be done by a "deed of gift" so you get away from the taxes/stamp duty?

Rock Thor
Street 2NR
Posts: 61
Joined: July 28th, 2013, 5:30 pm

Re: any LAWYERS in here? want an idea of a costing

Postby Rock Thor » October 21st, 2013, 10:20 pm

nightcrawler wrote:here's the scenario , presently house and land are presently in my parents name
i need it transferred to my name
what documents do i need besides the deed
and an idea of what kinda cost i looking at
thanx


Simple stuff :

1. Get copy of current Deed.
2. Do a Deed search ( you or search clerk or lawyer $300-$400 ) to make sure everything OK i.e. Correct owners conveying house to you etc. @ South Quay Office if you in POS
3. Get a Valuation of House for stamp duty purposes, try a Valuator or now some real estate agents do this about $2K to $3K ask for a fix fee NOT a % of the valuation. You have to nego here. Some will some will not.
4. Lawyer 's fee is nego so try a couple Conveyance Attorneys. PM if you need help here.
5. Lawyer will prepare the new Deed , you pay the stamp duty ( set by the BIR after you give them valuation).
6. Attorney will register etc., get a copy of new Deed with your name.
7. You own property. Frame.

crazychinee
3NE2NR is my LIFE
Posts: 779
Joined: August 5th, 2005, 7:07 am

Re: any LAWYERS in here? want an idea of a costing

Postby crazychinee » October 21st, 2013, 10:48 pm

Isnt' there something called a Deed of gift? Save the man some stamp duty.

Rock Thor
Street 2NR
Posts: 61
Joined: July 28th, 2013, 5:30 pm

Re: any LAWYERS in here? want an idea of a costing

Postby Rock Thor » October 22nd, 2013, 10:08 pm

crazychinee wrote:Isnt' there something called a Deed of gift? Save the man some stamp duty.


Yes but usually when you put it in a Will. Example : Mother dies and leaves a house to the daughter in a Will. After the Will is probated the lawyer will transfer the house into the daughter's name. No stamp duty here since it was a Deed of Gift via a Will. If the mother does it while alive - you have to pay the stamp duty.

User avatar
88sins
TriniTuner 24-7
Posts: 10747
Joined: July 22nd, 2007, 3:03 pm
Location: Corner of Everywhere Avenue & Nowhere Drive

Re: any LAWYERS in here? want an idea of a costing

Postby 88sins » November 10th, 2013, 10:02 pm

AdamB wrote:you need a valuation but check a lawyer first who will recommend a suitable valuator that will value to the lower end of the scale so that your stamp duty will be lower.



BS, cuz if the property is taxable the registrar reserves the right (& frequently exercises it) to refuse any valuation u bring & refer it to the state valuations division.

op, yuh would be better off bookin an appointment for a consult @ an attorney's office.

pm me if you looking for a good conveyance attorney, I'll put yuh onto mine

User avatar
boostaddict
Street 2NR
Posts: 90
Joined: December 27th, 2007, 4:52 pm
Contact:

Re: any LAWYERS in here? want an idea of a costing

Postby boostaddict » November 10th, 2013, 10:24 pm

Guys as u on this topic let me ask a quick question Let's say both parents died one child living with his/her family on a property for about 8 yrs can that person get the place in their name note that there are 4 other siblings but none of them live there that one persons pays the bills an sees about everything

crazychinee
3NE2NR is my LIFE
Posts: 779
Joined: August 5th, 2005, 7:07 am

Re: any LAWYERS in here? want an idea of a costing

Postby crazychinee » November 11th, 2013, 5:01 am

yup^^
Talk to a lawyer.
I've read about cases, that even in the absence of a will the highcourt judge held that the lone sibling , even without a will cared for both parents, paid all bills, and kept the properties in good shape was entitled to almost everything.

I can recc a few good conveyence/will attorneys I deal with from time to time.

User avatar
boostaddict
Street 2NR
Posts: 90
Joined: December 27th, 2007, 4:52 pm
Contact:

Re: any LAWYERS in here? want an idea of a costing

Postby boostaddict » November 11th, 2013, 5:25 am

Kk crazy any of those lawyers from east West

Advertisement

Return to “Ole talk and more Ole talk”

Who is online

Users browsing this forum: Duane 3NE 2NR, pugboy and 117 guests