How does title to the home pass upon the death of the last parent? Title can pass by will, trust, lady bird deed, or the laws of intestacy if there is no will or trust. Please discuss the consequences of each with your estate planning attorney and obtain the best...
I recently did a commercial closing where the seller, my client, took back a promissory note and mortgage for part of the sales price, secured by the real estate and business assets sold to the buyer. The note had a market interest rate, twenty-year term, five-year...
For commercial loans, you should at least consider SBA loan availability. There is a lower downpayment requirement (10%, instead of 20% or more) and sometimes more relaxed collateral and underwriting standards. Borrower and loans are not one size fits all, so ask...
No one wants to pay more property taxes than necessary. Forida affords a generous homestead exemption and valuation cap for your primary residence. There are other available exemptions for living quarters addition, seniors with long-term limited income reduction,...
Clients often want to purchase vacant land and develop it for a commercial building or subdivision. This is a time consuming and expensive process, before you can start "turning the dirt." Zoning, variances, special exceptions, traffic studies, engineering,...
Each state has different laws and practices when it comes to real estate. For example, in Florida we have mortgages, but other states have deeds of trust. While similar, there are important differences between these two types of instruments. Do not assume that...
The feeling of owning your own home free of any mortgage debt is exhilarating and liberating. However, if you are not there yet, before you prepay this debt, make sure you have six (6) months of living expenses set aside for job loss or emergencies. After that,...
I recently had a client who wanted to be a "good neighbor" and gave a written easement to the adjoining neighbor without consulting an attorney. Unfortunately, the easement was poorly drafted, and the client and the neighbor are in a legal dispute about the easement,...
The general rule of thumb is that if you can lower your interest rate by one percent, refinancing should be considered. A loan from the Borrower's perspective, even a refinance, is time-consuming and tedious. Instead of an entirely new refinance, go back to your...
Following the passing of a loved one, the last thing a grieving family wants to deal with is a lengthy, costly court process. In Florida, probate is the legal procedure through which an estate is distributed. While it’s meant to help ensure fairness, probate can drag...