ArcaMax

Q: The Garn-St. Germain Act prohibits enforcement of a due-on-sale clause in a transfer where the spouse or children of the borrower become an owner of the property. Does the “transfer” mean inherit, or does it also include “sale” where the deceased and the spouse are tenants in common?

A: Congress passed the Garn-St. Germain Act back ...Read more

Q: When I gave my son some money to buy a house, I had to submit a letter to his lender stating that the money I gave him was a gift and not a loan. Why did the lender require that?

A: As housing has become more expensive and the newer generations need a larger amount of money for a down payment, homebuyers often seek financial assistance from ...Read more

Q: I came across one of your articles discussing a fence problem where a neighbor was unhappy about his side of the fence being dirty. You suggested maybe he just clean it, even if his neighbor built the fence entirely on the neighbor’s property. We think that if he cleans it and damages the fence, he could get sued. Just a thought.

A: The ...Read more