Page 3 of 4 FirstFirst 1234 LastLast
Results 41 to 60 of 78

Thread: 2nd home question

  1. #41
    Join Date
    Mar 2005
    Location
    Johnston
    Posts
    17,019

    Default

    Quote Originally Posted by SaltMuck View Post
    That doesn't make me a gypsy does it? Gypsy's get taxed higher, so maybe CottonRabbit is a gypsy too?
    3 kinds of people in Edgefield....

    Natives (There are several subgroups here that all look down their noses at each other)

    Merriweather people (They tell people they live in NA as a general rule)

    Gypsies (Unless you paint barns on the side, talk real fast and call people bubby, nobody will mistake you for a gypsy)

  2. #42
    Join Date
    Sep 2017
    Posts
    672

    Default

    Merriweather. Sure wish we could get nice things on this end of the county, since we pay the most taxes. Fox Creek is thriving though.
    Have family that were in Edgefield politics. One is a lady that was on county council. She said she was paying 3K for her mother's house on their land.

    Bad Habit, I am screwed on the plans and it did get a c/o. I thought I would need it for home owner's insurance. Come to find out, I got it insured through my home owner's. I have a call in about how I would ever go about changing it in name to a shop. The law is gray. Nothing wrong with getting a shop with AC. I got "temporary" power during the building. I should have just let the permit run out.
    Think the deed thing may be the way to go. I would love to beat them with their own rules.
    Last edited by Highcotton; 07-12-2018 at 08:55 AM.

  3. #43
    Join Date
    Sep 2004
    Location
    spartanburg
    Posts
    2,807

    Default

    Gotta pay the bill or get it out of your name. It's a residence.
    Low country redneck who moved north

  4. #44
    Join Date
    May 2015
    Posts
    584

    Default

    Be careful with deeding it to your parents. If, for some reason, they need to go into a nursing facility and Medicaid foots the bill, they can go back and make a claim against their estate. You might end up having to buy it back.

    I'm not a lawyer or in the health care field, so take my advice with a grain of salt. I don't know all of the details.

    https://www.scdhhs.gov/organizations/estate-recovery
    Last edited by wob; 07-12-2018 at 09:23 AM.

  5. #45
    Join Date
    Nov 2008
    Location
    Chapin
    Posts
    3,679

    Default

    Alot of unintentional bad advice in this thread. You CAN get around this if you're willing to take the proper steps and engage the proper help. My first move would be to contact a real estate attorney in your area for their advice. Call and ask one how much they'd charge you for 30minutes to 1 hour of their time. Shooting from the hip, and its been said a couple of times already in this thread, giving your parents a life estate on the property would get it out of your name and protect it from being confiscated later on should they need govt help with medical issues down the road. BUT, and I don't know the exact specifics on this, I think the life estate must be set up a minimum number of years before they acquire the assistance. In other words, you can't see the need for that coming and put it in a life estate a month prior and expect everything to be OK. Again, you need a real estate attorney to advise you on this.
    Once your parents pass, there are certain criteria a structure must meet to be considered a residence. If it were me, when that time came, I'd go into the structure and remove the bathroom fixtures, cap the plumbing lines, patch the concrete, turn the bathrooms into storage rooms, remove closets in the bedrooms(must have window and closet to be considered a bedroom), and approach the county assessors office about having it reclassified as a storage building.
    And as far as "screwing them if you're able to".........I don't think you're screwing them at all. Screwing them would be owning 3 rental properties and fraudulently avoiding 6% taxes. What you're doing, in my opinion, falls into a gray area.
    Another thing you can do is owner finance the property to your parents through an Installment Sale Contract (sometimes referred to as a Land Contract). The deed would stay in your name and the Contract would be recorded at the courthouse giving your parents legal interest in the property therefore putting the tax bill in their name. This type of contract is used VERY frequently. I draw up several of them every year. The advantage to this vs a deed, note, and mortgage is that it can easily be nullified through a cancellation agreement between the parties. And, its super easy to set up. Sell it to them for $xx,xxx amortized over 40 years so their "payments" are low. Collect the payments and keep everything legal. Most real estate attorneys will be very familiar with this and the cost to set it up is negligible. Just make sure to keep it legal. Collect payments just like you would if it were a stranger. Otherwise, you're guilty of tax fraud.

    Again....CALL A REAL ESTATE ATTORNEY. If you don't know one, shoot me a PM and i'll get you in touch with a good one who won't clean your pockets out and is very familiar with Land Contracts/Life Estates/etc.

  6. #46
    Join Date
    Nov 2002
    Location
    FloVegas SC
    Posts
    3,668

    Default

    Quote Originally Posted by Catdaddy View Post
    I think it would be taxed as investment rental if it was in child's name or someone else. but grandparents lived there.

    Sent from my Moto Z (2) using Tapatalk
    Not if it was deeded to them. They would be the owners. MG
    Aliqua die cognoscetis!

  7. #47
    Join Date
    Mar 2002
    Location
    Forest Acres
    Posts
    9,737

    Default

    Quote Originally Posted by SCSwitchback View Post
    Alot of unintentional bad advice in this thread. You CAN get around this if you're willing to take the proper steps and engage the proper help. My first move would be to contact a real estate attorney in your area for their advice. Call and ask one how much they'd charge you for 30minutes to 1 hour of their time. Shooting from the hip, and its been said a couple of times already in this thread, giving your parents a life estate on the property would get it out of your name and protect it from being confiscated later on should they need govt help with medical issues down the road. BUT, and I don't know the exact specifics on this, I think the life estate must be set up a minimum number of years before they acquire the assistance. In other words, you can't see the need for that coming and put it in a life estate a month prior and expect everything to be OK. Again, you need a real estate attorney to advise you on this.
    Once your parents pass, there are certain criteria a structure must meet to be considered a residence. If it were me, when that time came, I'd go into the structure and remove the bathroom fixtures, cap the plumbing lines, patch the concrete, turn the bathrooms into storage rooms, remove closets in the bedrooms(must have window and closet to be considered a bedroom), and approach the county assessors office about having it reclassified as a storage building.
    And as far as "screwing them if you're able to".........I don't think you're screwing them at all. Screwing them would be owning 3 rental properties and fraudulently avoiding 6% taxes. What you're doing, in my opinion, falls into a gray area.
    Another thing you can do is owner finance the property to your parents through an Installment Sale Contract (sometimes referred to as a Land Contract). The deed would stay in your name and the Contract would be recorded at the courthouse giving your parents legal interest in the property therefore putting the tax bill in their name. This type of contract is used VERY frequently. I draw up several of them every year. The advantage to this vs a deed, note, and mortgage is that it can easily be nullified through a cancellation agreement between the parties. And, its super easy to set up. Sell it to them for $xx,xxx amortized over 40 years so their "payments" are low. Collect the payments and keep everything legal. Most real estate attorneys will be very familiar with this and the cost to set it up is negligible. Just make sure to keep it legal. Collect payments just like you would if it were a stranger. Otherwise, you're guilty of tax fraud.

    Again....CALL A REAL ESTATE ATTORNEY. If you don't know one, shoot me a PM and i'll get you in touch with a good one who won't clean your pockets out and is very familiar with Land Contracts/Life Estates/etc.
    Do this. If the attorney is an estate attorney also, you have a bonus.
    His mercies are new every morning. Lamentations 3:23

  8. #48
    Join Date
    Mar 2002
    Location
    Forest Acres
    Posts
    9,737

    Default

    And as attorneys go, Old Strom has a few family members practising that may have some advice for that neighborhood.
    His mercies are new every morning. Lamentations 3:23

  9. #49
    Join Date
    May 2015
    Posts
    132

    Default

    Contact a real-estate attorney, and someone intimately familiar with the building code and regs for your area such as a builder or engineer. Also code ordinances for your county can be accessed here:

    https://library.municode.com/sc/edge...UBURE_ARTIINGE

    In particular Section 8 looks handy. On a quick review line 8-4 (2) says: "Residential. Detached one- and two-family dwellings and multiple single-family dwellings (townhouses) not more than three stories above grade plane in height with a separate means of egress and their accessory structures shall comply with the International Residential Code as adopted by the S.C. Building Codes Council."

    Looks like "Detached" may be a key word. at 5K a year, a covered walkway would pay for itself pretty quickly, and keep you dry while visiting your mother in the rain.

  10. #50
    Join Date
    Nov 2004
    Posts
    48,742

    Default

    Quote Originally Posted by lowbudget View Post
    Contact a real-estate attorney, and someone intimately familiar with the building code and regs for your area such as a builder or engineer. Also code ordinances for your county can be accessed here:

    https://library.municode.com/sc/edge...UBURE_ARTIINGE

    In particular Section 8 looks handy. On a quick review line 8-4 (2) says: "Residential. Detached one- and two-family dwellings and multiple single-family dwellings (townhouses) not more than three stories above grade plane in height with a separate means of egress and their accessory structures shall comply with the International Residential Code as adopted by the S.C. Building Codes Council."

    Looks like "Detached" may be a key word. at 5K a year, a covered walkway would pay for itself pretty quickly, and keep you dry while visiting your mother in the rain.
    Indeed....

    Quote Originally Posted by Tater View Post
    I donít feel like reading all this so if this has already been stated then so be it.....

    Connect the two with a covered structure and the barndominium becomes an addition to your house. 1 residence, back to original tax rate.
    I had a client with the exact same problem....

    _ags_cfd5c989a6614fa3a27c13ce817ad629.jpg

    He built the house to the south for his parents. His resolution choices were to connect the two with a covered structure (walkway would suffice...had to be continuous roof) or survey off a separate lot. Luckily for him he had room for the second lot to meet requirements so he went that route.

    You can hire an attorney if you'd like, but a phone call to the county in question is free and they are the one's whose requirements you have to satisfy.

  11. #51
    Join Date
    May 2015
    Posts
    132

    Default

    I'll also add that attorneys often know how to legally transfer property, write deeds, and such; but I've seen a lot of jacked up deeds because a "Real Estate Attorney" doesn't know how to read a survey, and a lot of attorneys sell pipe dreams to a client because they don't know jack about the local code. I'm not saying you shouldn't talk to an attorney, just that they cant tell you what they don't know. If you have a legal question ask an attorney and they will set you right. It sounds like you have a code question, ask someone familiar with the code. In my experience if you don't get all pissy and stay on the good side of the inspector they may give you a way out, such as a covered walkway, 1 meter exception, or a way to classify it as a garage.

    Having gone through this myself, there is no way on earth I would outright deed it to an aging parent. This is where an estate attorney would be worth their weight in gold. Some sort of lifetime right, rental agreement, or other means would be the best route. If you do end up deeding it out, do your research and spend some money to do it right, otherwise it may bite you hard in the future.

  12. #52
    Join Date
    Sep 2017
    Posts
    672

    Default

    UPDATE:
    Ended up going scorched earth. I had to.
    The Assessor's Office wouldn't budge on the 2nd primary home. Literaly told me to tear it down. I went and got a real estate attorney out of Aiken. She called and sent a formal letter to the Assessor stating that under SC code 12-43-220 allows for a 4% rate when there are 7 continious acres and family living in the homes. Assessor said he wasn't aware of that code. He looked it up and told the attorney that he didn't want to, but he would grant it. Mighty nice of him to do what the law says.
    Assessor then had raging hard on and appraised the property at over half a million.....on a county maintained road that can't be put on a scraping schedule. Still wouldn't budge on value. I had to take them to the county review board.
    I had my own appraisal done. Mine came in 162K LOWER. So yeah, we fought it.
    You wouldn't believe the shit he tried to pull. First, they tried to say thst we were only contesting the 2nd home. Remember, both homes are the same parcel number and have the same address. We claimed it was one parcel and therefore should have one value. Especially, since the home are 28 yards apart.
    Assessor never gave a reason for 100Kmark up on my house. He used a Google search from a website called The Spruce to define " accessory dwelling ". My lawyer stated she went to the website and looked at the bios for the contributers and none were appraisers. It was basically a home owners fix and repair site. The comps that he used were from gated communities on water lots.
    The review board listened to both sides. Then they went into chambers for about 10 minutes, and ruled in my favor. They went with the value of the entire parcel at 4 % of what my appraiser valued it the property.
    I know you guys know government is crooked, but damn if Edgefield doesn't come close to being the worst. Luckily the men on the review board had comment sense. After the hearing, one of the board members said he could tell that the county appraiser took it personally and was trying to get me.
    Sorry for the long reply on an old thread. I figured you guys wanted to help, so you would probably want to know the outcome.

  13. #53
    Join Date
    Jul 2008
    Location
    In the middle of it
    Posts
    2,244

    Default

    I love hearing stories about the government getting the screws put to them by the taxpayer. Thanks for the update.

  14. #54
    Join Date
    Dec 2002
    Location
    Greenville, SC
    Posts
    312

    Default

    Great story- glad you got it worked out!
    Makes you wonder how many other folks in Edgefield County are getting screwed and taxed incorrectly by this same bunch of rogue assessors?
    Good for you to seek legal counsel.

  15. #55
    Join Date
    Dec 2010
    Posts
    9,745

    Default

    Glad it worked out.

    Sent from my SAMSUNG-SM-G930A using Tapatalk

  16. #56
    Join Date
    Nov 2008
    Location
    Scumter
    Posts
    17,852

    Default

    Way to stick it to the man! That money spent on the lawyer should pay for itself in pretty short order in tax savings.

    Sent from my SM-N920V using Tapatalk

    Delta in a nutshell: Breeding grounds + small wetlands + big blocks of grass cover + predator removal + nesting structures + enough money to do the job= plenty of ducks to keep everyone smiling!

    "For those that will fight for it...FREEDOM...has a flavor the protected shall never know."
    -L/Cpl Edwin L. "Tim" Craft

  17. #57
    Join Date
    Nov 2007
    Location
    charleston
    Posts
    84

    Default

    Sounds like that assessor needs a good ole baseball bat to the knee caps..

  18. #58
    Join Date
    Nov 2008
    Location
    Scumter
    Posts
    17,852

    Default

    I assume your lawyer was present at the review board thingy?

    Sent from my SM-N920V using Tapatalk

    Delta in a nutshell: Breeding grounds + small wetlands + big blocks of grass cover + predator removal + nesting structures + enough money to do the job= plenty of ducks to keep everyone smiling!

    "For those that will fight for it...FREEDOM...has a flavor the protected shall never know."
    -L/Cpl Edwin L. "Tim" Craft

  19. #59
    Join Date
    Nov 2006
    Location
    Spartanburg
    Posts
    41,108

    Default

    This is really good and timely news. Thank you. You have no idea how much this information helps.

  20. #60
    Join Date
    Nov 2008
    Location
    Scumter
    Posts
    17,852

    Default

    Moving some in-laws onto the combine huh Glenn?

    Sent from my SM-N920V using Tapatalk

    Delta in a nutshell: Breeding grounds + small wetlands + big blocks of grass cover + predator removal + nesting structures + enough money to do the job= plenty of ducks to keep everyone smiling!

    "For those that will fight for it...FREEDOM...has a flavor the protected shall never know."
    -L/Cpl Edwin L. "Tim" Craft

Bookmarks

Posting Permissions

  • You may not post new threads
  • You may not post replies
  • You may not post attachments
  • You may not edit your posts
  •