Legal Question in Real Estate Law in Maryland

i have a lot I want to build, on but due to bad blood between my wife and family they don't want her involved. I want to deed the property to him have him own the land and house as I build it, then pay him off the construction loan and be given the house back. Doing it like this will allow my parents control away from my wifes influence and once I build the house either make payments to my parents or sell the property after two years and not pay capital gains. What are the other tax considerations I'm missing?


Asked on 7/25/10, 2:02 am

1 Answer from Attorneys
Lesly Longa Longa Law P.A.

Whoever owns the house pays the taxes. I'm not sure who "him" is, but the house may be used to satisfy the debts of the owner and can be sold by the person who owns title. There may also be issues with regard to a mortgage for the lot or property. Contact a real estate attorney for legal advice regarding your situation and your best options. Regards,

Read more
Answered on 7/25/10, 8:38 am


Related Questions & Answers

More Real Estate and Real Property questions and answers in Maryland