Can father sell his property without consent of Son?

No the son and the daughter cannot object to the sale of the property as it is the father’s self acquired property. If the property is a self acquired one then the owner has the sole rights to sell the property.

Can a illegitimate son inherit his father’s property?

However, an illegitimate son does not have a right in his father’s property. Besides this, a child who is still not born but in the mother’s womb has a right in his father’s property even if he has died intestate. But the sole condition to avail the right to succession is for the father to have be alive when the child was born.

Why do investment property owners need fixed interest rates?

Investment property owners often choose to switch to a fixed interest rate because their rates don’t change on a month-to-month basis, which gives you a more consistent set of monthly expenses. Until your mortgage balance is zero, you don’t technically own your home free and clear.

Can you write off repairs on an investment property?

If you own an investment property, repairs are one of the expenses you can write off against your income. Say you own a rental and the roof starts leaking: whatever you spend to repair the roof is tax-deductible.

Can a friend buy an investment property with a loan?

If you and a friend own an investment property worth $500,000 with a loan of $400,000 on it, then how will the banks assess your situation if you then decide to buy another property on your own?

How to defer taxes when selling an investment property?

Your father-in-law’s property might have skyrocketed in value while the IRS has allowed him to depreciate the property to zero. Here’s the simplistic example: Your father-in-law paid $200,000 for a property that today could sell for $300,000.

Do you have to pay taxes when your father in law sells a property?

When your father-in-law sells the property, he’ll have to pay tax on the profit and pay a tax on the amount depreciated over time. More Matters: Why you may have to foot the bill to repair damage to your condo caused by a contractor hired by the association

Investment property owners often choose to switch to a fixed interest rate because their rates don’t change on a month-to-month basis, which gives you a more consistent set of monthly expenses. Until your mortgage balance is zero, you don’t technically own your home free and clear.

If you own an investment property, repairs are one of the expenses you can write off against your income. Say you own a rental and the roof starts leaking: whatever you spend to repair the roof is tax-deductible.