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Tag: real-estate

  • Understanding Title Insurance for Buying a Home

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    – Property ownership issues can arise after closing on a new home – Title insurance protects against financial loss due to unknown property ownership issues – Title search is essential to identify potential problems with the deed or title – Lenders often require title searches as part of their underwriting process – Local professionals who…

  • Understanding Probate: What it Means for High School Students

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    – Probate is based on state law and varies in length depending on the state. – If a deceased person has a valid will, probate begins when the executor presents the will to the courthouse. – If there’s no will, the court will appoint someone to administer the estate. – The process involves filing a…

  • Key Facts About Florida’s Construction Laws for Real Estate Developers

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    1. Developers must file a notice of commencement, record it in the public records, and post it on the job site before beginning work on a project. 2. Lienors must serve a notice of owner to the developer and all parties listed on the notice of commencement as a prerequisite to perfecting a lien. 3.…

  • “Understanding and Fixing Problems with Property Titles in Florida”

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    1. Fraud and forgery: A forged deed is void and does not affect the real landowner’s title to the property. A bona fide purchaser who takes title to land by a forged deed, without notice of the forgery, is not protected by its recordation in the Public Records. 2. Judgments and liens: Judgments and liens…

  • Understanding Commercial Evictions in Florida: The Process and Consequences

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    – A landlord or their agent can sign an eviction complaint for non-payment of rent in a commercial property. – The complaint needs to allege the landlord/tenant relationship, non-payment of rent, and the notice provided, and attach a copy of the lease. – In a basic eviction, the landlord seeks possession only, while in a…

  • “Understanding and Appealing Property Taxes in Florida”

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    – Property appraisers in Florida are required to send out TRIM notices every August to inform taxpayers of the proposed assessment on their properties. – It is important for property owners to review these notices carefully and determine if the assessment is fair and accurate, as there is a short window to file a tax…

  • How to Cancel a Power of Attorney in Florida

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    – The Florida Power of Attorney Act governs the creation and revocation of POAs in Florida. – A POA can be revoked in Florida as long as the principal is mentally competent. – The revocation must be done in a formal manner, including a written document specifying the details of the POA and notarization. –…

  • Tax Benefits of Swapping Property in a Like-Kind Exchange

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    – A like-kind exchange can be used to defer tax on the gain from selling commercial or investment real estate that has appreciated significantly. – It involves exchanging the property rather than selling it, allowing taxpayers to defer paying taxes on the gain. – Like-kind exchanges are limited to real property held for investment or…

  • Challenging Jurisdiction in Florida: What You Need to Know

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    1. A Florida court has personal jurisdiction over a defendant who is a Florida resident. 2. For nonresident defendants, a Florida court has personal jurisdiction if the defendant is served with process while present within the state, if the defendant waives its challenge to personal jurisdiction, or if the defendant consents to a Florida court’s…

  • “Keeping Your Business and Real Estate Separate”

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    1. Owning real estate in a separate entity from the operating business can provide liability protection, limiting claims to the value of the property and accounts held with it. 2. Keeping real estate within a corporation for tax purposes may result in double taxation if the property is sold. Alternatively, holding real estate in a…

  • Understanding Florida’s Probate Process

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    1. Probate is the court-supervised process of administering a deceased person’s assets in Florida. 2. A personal representative is appointed to take charge of the probate process, including identifying, gathering, and securing the estate assets. 3. The probate process involves paying valid creditors, taxes, and expenses, followed by distributing the remaining assets to the beneficiaries…

  • Comparing Stock and Asset Purchases in Mergers and Acquisitions: What You Need to Know

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    – Stock/equity purchase and asset purchase are the two most common ways to structure the purchase of a business. – There may be circumstances that result in a hybrid between these two structures or other structures such as a merger. – The structure of the deal is critically important to both the buyer and the…

  • “Get Help Applying for Work Visas with an Immigration Attorney”

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    Work visas are a type of visa that allows foreign workers to legally work in the United States for a temporary period of time. They are available for various job types, including specialty occupations, free trade agreement professionals, agricultural workers, and educators. The length of employment depends on the type of visa issued. Working with…

  • Are Secret Agreements Enforceable in Florida Real Estate Deals?

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    – Florida law looks to section 542.335 of the Florida Statutes to determine the enforceability of restrictive covenants, including confidentiality agreements. – The party seeking to enforce the restrictive covenant must prove each element of their cause of action by a preponderance of the evidence. – In order to pursue a claim for breach of…

  • Enforcing Privacy Rules in Florida Real Estate

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    – Florida courts look to section 542.335 of the Florida Statutes to determine the enforceability of restrictive covenants. – The party seeking to enforce the restrictive covenant bears the burden of proof and must establish each element of their cause of action by a preponderance of the evidence. – In pursuing a claim for breach…

  • Can a Commercial Landlord Take Action Against a Tenant Who Hasn’t Paid Rent?

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    – The COVID-19 pandemic caused financial damage to the commercial real estate sector, leading landlords to consider rent abatements and eviction proceedings. – Some landlords opted for self-help tactics, such as changing locks or placing chains on doors, to evict defaulting tenants. – The use of self-help by commercial landlords varies by state, and it…

  • Maximizing Payment for Temporary Construction Permits in Florida

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    – A Temporary Construction Easement (TCE) is a legal agreement that allows a government entity or contractor to temporarily access a portion of private property for construction purposes. – TCEs are important because they directly impact property owners, and understanding their value and negotiating full compensation ensures that property owners are not shortchanged during eminent…

  • How to End Condominiums: Florida’s Condo Act Explained

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    – The plan of termination must be in writing according to Florida Statutes. – The plan must identify the termination trustee, including their name, address, and affirmative powers. – The plan must include the date after which it is void if not recorded, the interests of unit owners, sale terms if property is to be…

  • Understanding Real Estate Arbitration Agreements

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    1. Signing an arbitration clause in real estate closing documents means that disputes must be resolved through arbitration rather than through trial before a judge or jury. 2. Arbitration can be a less expensive route for resolving disputes, but it has drawbacks such as limited discovery and limited options for appealing an arbitrator’s decision. 3.…

  • “Can my ex get my workers’ comp in a divorce?”

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    – If the injury and workers’ comp benefits occurred during the marriage in Florida, the ex-spouse may be entitled to a portion of the benefits. – Marital property includes income acquired during the marriage, so workers’ comp benefits may be subject to equitable distribution. – Workers’ comp benefits acquired before or after the marriage are…

  • Understanding Deeds and Titles: What They Mean for You

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    – There is confusion among buyers and sellers about the difference between the deed and title of a property. – A deed is a physical document that proves legal ownership rights, while title is the legal concept of ownership. – The deed conveys the title to a property, but errors in the deed may exist,…

  • How Quitclaim Deeds Work in Florida

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    Benefits of using a quitclaim deed in Florida: – Allows for quick and easy transfer of property – Saves time and money in legal fees and title searches – Useful for transferring property in divorce settlements or between family members Limitations of using a quitclaim deed in Florida: – Does not guarantee the grantee a…

  • Lady Bird Deed: A Special Estate Planning Tool in Florida

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    – Lady Bird Deeds allow grantors to retain control and authority over their property during their lifetime, including the ability to sell, mortgage, or revoke the deed without beneficiary permission. – The automatic transfer of property to designated beneficiaries upon the grantor’s death, without the need for probate, is a significant advantage of Lady Bird…

  • Understanding how SB 1718 Affects Florida Employers and Immigrant Workers

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    – SB 1718 changes the penalties for hiring unauthorized aliens in Florida, effective July 1, 2024. – The Department of Economic Opportunity may require employers to repay any economic development incentive received if they are noncompliant. – Violations can result in a 1-year probation period for the employer, during which they must report quarterly to…