Mortgage Financing
As a Real Estate Attorney, most of my clients need mortgage financing in order to purchase their homes and Real Estate investments.
We would like to thank our clients during this challenging time of the public health crisis for their business. We have maintained our office space in a sanitized and safe atmosphere for your comfort and confidence in us.
Happy Thanksgiving to our Clients! Wishing your families a beautiful holiday!
As a Real Estate Attorney, most of my clients need mortgage financing in order to purchase their homes and Real Estate investments.
When buying and selling investment type properties, it is very important to discuss your intentions and the specific details of the transaction with your accountant as well as your Real Estate Attorney.
Real Estate is getting hot as Spring arrives. I am seeing increased activity in Real Estate transactions this month. The interest rates are still low and people are now ready to make their moves.
Many of my Real Estate investor clients utilize a tax benefit known as a 1031 Deferred Exchange. This IRS regulation allows the seller of investment Real Estate ( and other types of investment Real Estate) to sell the assets, make a profit, but not pay income tax on that profit in that year.
New Jersey applies the Bulk Sale Law to Real Estate sales regarding incoming producing property. There is a lengthy list of specific types of transactions that are included, herein. The purpose of this law is to make sure that any taxes that are owed or were previously due from an owner of income producing property have been satisfied.
Lately, I have been receiving many phone calls from clients regarding problems that have developed because they have co-signed mortgages for family/friends. A co-signer is equally responsible for the repayment of the loan as is the actual home owner.
Lately, I have seen a number of minor document errors create major headaches for my clients.
Years ago, I was fortunate enough to handle a Capital Punishment Murder Case. My client was found Not Guilty. It was only the second acquittal in the State of New Jersey since they brought back the Death Penalty.
It is very important that Landlords's check their Residential Leases regularly. Most leases are on a 1 term and automatically become month to month , thereafter. A Landlord should prepare and submit to each residential Tenant a new Lease each year. In this fashion, a Landlord can make sure that all the information and rental increases and other Landlord protections are current.
I read a very good article today in USA Today's personal finance section. It talked about preparation regarding your Will and your Estate. The recommended steps are very valid and important to make things much easier for yourself and for your heirs. The article discussed reviewing your last Will and Testament every five years.