Using Non-Attorney Legal Services
There is a great temptation to use non-attorney legal services. I won’t name any, but you can find them on the Internet if you want to look. It is important to keep in mind that these services, while costing less than many attorneys, are limited in their scope. Many of these websites have detailed guidelines for a user to complete. Theoretically, these guidelines should result in a satisfactory agreement. However, good legal product is the result of extensive knowledge on the part of the lawyer of the needs of the client and extensive communication on the part of the client with the attorney. There are often details which may not come out in an online checklist which may be critical or material to the client…
Things To Remember Or Be Aware Of About Litigation
Not every problem is best solved by litigation. Litigation is not easy, quick or cheap. A judge is not like an NFL referee who will throw down a yellow flag, assess a penalty and move the case along immediately. Remember that there are always at least two, and often three, sides to every story – yours, theirs and the truth. There may be facts or law of which either you or the other side is not aware of. There may be extenuating circumstances, or the other side may just feel your claim for damages is unreasonable. Litigation is time-consuming, distracting and expensive…
What Can A Buyer Expect In A Home Inspection?
Any buyer of a residential property is advised to obtain a home inspection. There are a number of misunderstandings about what exactly a home inspection is supposed to accomplish. Home inspectors are considered “generalists”. In a manner similar to your general practitioner doctor, a home inspector looks for symptoms and identifies conditions which should be looked at more carefully or more fully inspected. For example, if a home inspector sees a stained area in the ceiling or on a wall, the home inspector should point out the stained area. The home inspector is not normally allowed to dig into a wall because that would involve a destructive inspection for which a buyer could be responsible…
Written Agreements In Real Estate Transactions
If a real estate broker from 1900 were to be transported to our current time and asked to fill out a real estate sales agreement, it is very likely that the broker from 1900 would be stunned beyond belief. There are many “old timers” who talk about how sad it is that we can’t do business with a handshake or with a simple agreement of sale. The truth is we can’t do business that way because people have demonstrated their inability to do so successfully…
Nonprofit Entity Directors Positions
Being asked to serve as a director of a nonprofit entity can be a very flattering invitation. It can represent an opportunity to provide service to your community, as well as to achieve some level of personal visibility as a director. Nevertheless, such positions do not come without certain risks. Every director of a nonprofit entity has fiduciary duties towards the organization…
Things To Remember About Residential Real Estate Transactions
There is no three day right of recision for real estate sales. If you are not sure about whether you want to sell a house, don’t list it until you are sure. If you are not sure whether you want to buy a house, don’t waste the time of a real estate agent. If you want to look at houses, that’s fine, but keep in mind that most real estate agents only make money when they sell real estate, so be respectful of the real estate agent’s time. Make sure you understand the real estate sales agreement before you sign it. If you are not sure you understand, ask your real estate agent. If your real estate agent is either not knowledgeable or is uncomfortable explaining the details, hire an attorney…
Business Entity Documents In Real Estate Transactions
Any business which has been involved in the purchase or sale of real estate knows that the title company asks for a lot of information from both sides before the transaction can close. One of the items which is requested seems something of a self-evident request: proof of a business’ legal existence. Generally, this will be a copy of the company’s articles of incorporation (if it is a corporation) or a certificate of organization (if it is a limited liability company, limited partnership or similar entity). Occasionally, this is one of the last things that seems to be requested or provided and few people understand the real reason for the request…
Seller Disclosure And Home Inspections
Anyone who has either bought or sold a home knows that part of the process is preparing and reviewing a seller disclosure and having the property inspected by a home inspector. A seller who starts to prepare a seller disclosure form is faced with the task of telling complete strangers about all of the faults of their beloved home. In a way, the seller is required to call their own baby “ugly”. This can be a painful process. Further, a seller may not realize the existence of certain problems with the house…
Condominium Resale Certificates
Anyone who purchases a condominium unit is entitled to certain disclosures. If the unit is brand new and is being purchased from the Declarant, the buyer is entitled to a Public Offering Statement which contains extensive information concerning the anticipated organization, operation and condition of the condominium itself. In many cases there may not be much actual history in existence. On the other hand, a buyer of a condominium unit from an owner other than the Declarant is entitled to a resale certificate from the condominium association…
What you need to know about LLCs
If you are launching a business, you need to determine the ideal structure for success. You’ve drawn up a business plan, so now it’s time to figure out the best classification for the business. Several factors go into this decision, such as the number of owners, the industry, management and operational plan, and tax structure. Once you establish those significant factors, you may decide a limited liability corporation or LLC is the best option for you and your business partners. Executives managing a traditional corporation must comply with a wide range of corporate governance requirements, record keeping and paperwork. An LLC can be flexible and agile compared to other options such as a corporation, S-corporation, general partnership or sole proprietorship…