Finally closed on the house

[grampahol]

Yesterday I had a check in my name for 56,000 and some change, signed it over and closed on the house I now live in, so instead of closing on a 117,000 house I'm half owner of a $250,000 house instead and we, wife and myself have over $30,000 in the bank.. I know..that's fuzzy math, but it works out through some very creative accounting..lol
Actually I bought half of the house the Mrs has had paid off for several years now so that money technically is hers, but we both have equal access to the money..I trust her and she trusts me so we're sharing the assets. The balance of the 56k goes to paying off all our debts. I now own my $3000 table saw lock, stock and blades.. Because I make cabinet doors I'm really considering buying a shaper which is really a much more stationary router table with a cast iron base.. I'll make that back on my first job if I go that route..  

[Tiger Teeth]

Congrats gramps!

[XenoMorph]

Congrats when you hosting a party?

[Tiger Teeth]

(11-19-2021, 06:20 PM)XenoMorph Wrote: Congrats when you hosting a party?

I concur!  I want an invite!

[grampahol]

Antarctica July 4th,  winter in the southern hemisphere.. 

[Tiger Teeth]

(11-21-2021, 04:23 PM)grampahol Wrote: Antarctica July 4th,  winter in the southern hemisphere.. 

Sounds "cool", count me in.

[fredtoast]

I am sure you are cool with your woman, but have you figured out how all of this will effect your children/heirs?

When you die do you have any kids you want to get anything or do you want everything to go to your woman?

[grampahol]

I'm not too worried about the kids. My son has done everything he can think of to get himself cut out of my will and maybe off my life insurance policy. I may give my half to my daughter and her kids then let the probate court figure it all out.. We might just leave the place to some charity with all the contents of the house. After we're dead what do either one of us really care?

[fredtoast]

(11-23-2021, 02:53 AM)grampahol Wrote: I'm not too worried about the kids. My son has done everything he can think of to get himself cut out of my will and maybe off my life insurance policy. I may give my half to my daughter and her kids then let the probate court figure it all out.. We might just leave the place to some charity with all the contents of the house. After we're dead what do either one of us really care?

It is your money and you can do whatever you want with it.  I just know that sometimes people don't fully understand who gets what when they die.

I have a good friend who whose mom had one sister.  Before his grandmother dies she put her house in the name of her two daughters meaning to split the asset between the two families.  But when my friend's mother died her sister got the house and he ended up with nothing.  His grandmother did not mean to cut him out, but that is what happened.

[grampahol]

(11-23-2021, 09:36 AM)fredtoast Wrote: It is your money and you can do whatever you want with it.  I just know that sometimes people don't fully understand who gets what when they die.

I have a good friend who whose mom had one sister.  Before his grandmother dies she put her house in the name of her two daughters meaning to split the asset between the two families.  But when my friend's mother died her sister got the house and he ended up with nothing.  His grandmother did not mean to cut him out, but that is what happened.

After having gone through probate we have a pretty good idea how SC real estate law works now..