CO-Author: Jon Goodman, Esq. As businesses reduce staff or shut down locations, they often remain obligated on long term leases. Subleasing unused space helps offset continuing liability. Subleases are often documented by simple forms specifying the premises, gross rental rate, security deposit and duration for the sublease, but then address other issues by incorporating the … Continue Reading
CO-Author: Jon Goodman, Esq. As businesses reduce staff or shut down locations, they often remain obligated on long term leases. Subleasing unused space helps offset continuing liability. Subleases are often documented by simple forms specifying the premises, gross rental rate, security deposit and duration for the sublease, but then address other issues by incorporating the … Continue Reading
For entrepreneurs seeking to raise money for a business or investment opportunity, one alternative is to make a private placement offering of securities to potential investors. A private placement offering is a limited offering of securities, such as shares of stock of a corporation or interests in a partnership or limited liability company, which … Continue Reading
Domestic violence is a serious issue requiring involvement of the court system and law enforcement to protect the safety of the victim and punish the offender. However, calling 911 and involving the court and law enforcement when there is a disagreement or argument can have life changing consequences for the couple involved in the … Continue Reading
Co-Author: Kirsten A. Westerland, Esq. The expression, “I have some swampland in Florida that I’d like to sell you,” is based upon schemes in the 1960s and 1970s where scammers sold consumers real property in Florida that could not be built or improved upon. The Federal Government responded with the Interstate Land Sales Full Disclosure … Continue Reading
Co-Author: Kirsten A. Westerland At the time of the publication of this article, the demand for residential lots is dead. Lenders find themselves foreclosing on and owning lots. When lenders sell those lots, they need to be mindful of the Interstate Land Sales Full Disclosure Act (“ILSFDA”). ILSFDA is somewhat like a mini-securities law for … Continue Reading
Co-author: Jeremy S. Durham When a residential or commercial tenant defaults on a lease, it is in the landlord’s best interest to make aggressive efforts to mitigate the harm to the landlord. Because landlords do not know whether they can collect damages from the tenant or lease guarantors, landlords will want to do everything that … Continue Reading
It is more complicated to diagnose whether some potential problems exist, than to simply address them, regardless of whether the problems exist or not. It is so easy to put on a seat belt, the risk analysis of whether it is worth wile to do so is complicated, and the consequences of not buckling up … Continue Reading
Co-Author: Karen J. Radakovich, Esq. General Concepts Bankruptcies affect real estate brokers. For example, listing brokers are typically hurt when their short payoff sellers file bankruptcy. It is now common for a buyer’s agent to discover that a builder/seller has filed bankruptcy. Real Estate brokers need to have a basic understanding of some features of … Continue Reading
Joint Revocable Living Trusts: The Good, The Bad, and The Ugly A revocable living trust is an estate planning tool that basically serves as one’s “alter ego” during lifetime, holding legal title to assets but having no separate tax identity. The creator of the trust, known as the “grantor,” “settlor” or “trustor,” also typically serves … Continue Reading
