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When do you cut someone off financially?

 
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Post Options Post Options   Thanks (0) Thanks(0)   Quote Spokenword Quote  Post ReplyReply Direct Link To This Post Posted: Feb 03 2013 at 9:27am
also, if you guys are offering to also buy furniture, it may be best to come up with the figure beforehand so there will be no surprises

i hope they are the type that are appreciative and do not have a sense of entitlement. 

good for you to be able to do this! I am hoping i can bless my mother with a few things later in life. 
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Post Options Post Options   Thanks (7) Thanks(7)   Quote maysay1 Quote  Post ReplyReply Direct Link To This Post Posted: Feb 03 2013 at 10:11am
Are you buying the home and they are renting it from you? (even if it's just token rent that's enough to cover insurance and repairs and taxes).

This is one of those times where I would get a lawyer involved to draw up a rental contract/agreement. It sounds great to buy someone a house...until a few years down the line when they've destroyed it or let the insurance lapse or not paid the taxes. Then you end up in a bad position (either financially or stress wise from dealing with the drama) and you can't even put them out because of their tenants' rights (which every state has).

I don't know what you've said to them already or if they're family or what the deal is...but especially if they're family...you owe it to them and yourself to make sure everyone is protected legally. Deal with this now to avoid problems down the line.
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Post Options Post Options   Thanks (3) Thanks(3)   Quote melikey Quote  Post ReplyReply Direct Link To This Post Posted: Feb 03 2013 at 10:40am
there are signs of this not ending well.
good luck OP, but remember that houses can be auctioned because of unpaid taxes even if the home is owned outright. and if that happens a good chunk of the equity will be gone in fees and to pay off any other liens on the property. 
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Post Options Post Options   Thanks (4) Thanks(4)   Quote ThoughtCouture Quote  Post ReplyReply Direct Link To This Post Posted: Feb 03 2013 at 10:40am
will the deed be in their name or yours?   in other words, is this home really a gift to them?
 
either way, i think it is a lil pushy for a person on the recieving end to ask for more than what you inteded to give as a gift...just make sure you make clear what the gift does or does not include.
 
furniture from walmart is funny as hell tho...
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Post Options Post Options   Thanks (0) Thanks(0)   Quote ThoughtCouture Quote  Post ReplyReply Direct Link To This Post Posted: Feb 03 2013 at 10:42am
notices are recieved well in advance of a tax sale if the op plans to keep her name on the deed and/or tax bill...
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Post Options Post Options   Thanks (2) Thanks(2)   Quote Lady ICE Quote  Post ReplyReply Direct Link To This Post Posted: Feb 03 2013 at 10:44am
Originally posted by iGotSunshine iGotSunshine wrote:

I'm just really annoyed right now

Anywhoo if you bought someone a house do you think they should expect you to furnish it and keep up the insurance payments too?
if i bought a house i would be living in it...and yes i will furnish it for me.....LOLConfusedGeek

yeah no but seriously...the cut off was after you bought the house. i cant see myself doing all that for a place im not gonna be in. i love my moms but...she know whats up.SleepySmile


LOLjk i still love you mom.Ermm


Edited by Lady ICE - Feb 03 2013 at 10:46am
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Post Options Post Options   Thanks (0) Thanks(0)   Quote Ladycoils Quote  Post ReplyReply Direct Link To This Post Posted: Feb 03 2013 at 10:47am
If you're buying someone a home- you're not under any obligation to buy them furniture our pay or for anything else for that matters unless you choose too.
 
Whatever their paying on rent for their current place they can use towards new furniture and the insurance on the new home.
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Post Options Post Options   Thanks (5) Thanks(5)   Quote maysay1 Quote  Post ReplyReply Direct Link To This Post Posted: Feb 03 2013 at 10:53am
Originally posted by melikey melikey wrote:

there are signs of this not ending well.
good luck OP, but remember that houses can be auctioned because of unpaid taxes even if the home is owned outright. and if that happens a good chunk of the equity will be gone in fees and to pay off any other liens on the property. 


Just to add another possibility...they can take out a mortgage or other loans against the home if they're on the deed. And if they default on it, then you've really wasted your money buying them a house.
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Post Options Post Options   Thanks (1) Thanks(1)   Quote Lhdc2011 Quote  Post ReplyReply Direct Link To This Post Posted: Feb 03 2013 at 11:00am
If you buy me a house, I wouldn't ask you for anything else....this is something to consider Geek

jp...but basically, what everyone else said and you knew that would be the answer as well. Have this talk with the person and set some boundaries.
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Post Options Post Options   Thanks (2) Thanks(2)   Quote melikey Quote  Post ReplyReply Direct Link To This Post Posted: Feb 03 2013 at 11:07am
Originally posted by maysay1 maysay1 wrote:

Originally posted by melikey melikey wrote:

there are signs of this not ending well.
good luck OP, but remember that houses can be auctioned because of unpaid taxes even if the home is owned outright. and if that happens a good chunk of the equity will be gone in fees and to pay off any other liens on the property. 


Just to add another possibility...they can take out a mortgage or other loans against the home if they're on the deed. And if they default on it, then you've really wasted your money buying them a house.

yes, i got burned buying a car for a family member who needed transportation. there are many ways things can go wrong trying to be nice to family. i think the fact that the people in the OP were asking about furniture and insurance, the signs are there of everything not being on the up and up. 
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