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Thread: buying a house California

  1. #1
    Junior Member
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    Nov 2006
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    Question buying a house California

    Hi,
    I want to buy a house in California with or without co borrower (my spouse) in my loan and we have 3 kids and 2 stepkids from my spouse. My question is who get the house if I'm die? or we both die? or we get divorce? and also what do I need to know before buying a house.

    Thanks.
    Last edited by DBS; 11-20-2006 at 09:05 PM.

  2. #2
    Senior Member
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    Default

    The best advice I can give you is to consult with a CPA or attorney in your area. You have presented many different questions that make answering your questions in a general forum like this impossible.
    Barry S. Phillips, CPA
    www.BarryPhillips.com

    IRS Circular 230 Disclosure: This response is intended to provide general information and written for educational purposes only. It does not establish a client relationship. This communication is not intended to be used, and cannot be used, for the purpose of (i) avoiding tax-related penalties under the Internal Revenue Code or (ii) promoting, marketing or recommending to any party any matters addressed herein.

  3. #3

    Default

    Who gets the home? If you don't have a Will, nows the time to get one. If you die without a Will (intestate), the State will determine how your property is divided in accordance with applicable intestate succession laws in California. Your attorney will advise you that in your Will you will need to make proper provision for any dependants otherwise your Will could be challenged.

    What do you need to know before buying? That my friend is a very lengthly answer. In fact, we wrote a book about it.

    Visit our website, we have lots of free helpful information to new home buyers - good luck!

    Steve @ www.buyingahouseandsavingmoney.com

  4. #4
    Junior Member
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    Nov 2006
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    Default buying a house California

    Dear Barry & Steve, thank you so much for your adviced. I appreciated it.

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