If a title company will issue survey-related protection based on an Improvement Location Certificate (ILC), why might it be worthwhile for my client to obtain a more rigorous (and more expensive) survey? Last month’s article showed an example where an owner had a title problem which might have been detected prior to closing had the … Continue Reading
If a title company will provide survey-related title insurance protection for a buyer without requiring an Improvement Location Certificate (ILC), why might it still be worthwhile for my buyer to obtain an ILC? If a title company will issue survey-related protection based on an ILC, why might it be worthwhile for my client to obtain … Continue Reading
Reprinted from REALTOR® Magazine http://www.realtor.org/realtormag February, 2002 by permission of the NATIONAL ASSOCIATION OF REALTORS® Copyright 2002. All rights reserved. At her buyer clients’ request, Joan went to the inspection. “She was our agent, and we thought she should be there,” the buyers would later testify. Occasionally, just to make sure the inspection was … Continue Reading
Co-Author: Amy E. Allison, Esq. Last month we looked at what constituted a trademark and how to search to see if there were any pre-existing marks that were similar. This month we address how to register a mark and therefore protect your rights in it. Registration A state trademark is one that is used within … Continue Reading
Part II In Part I of this article, the differences between listing agreements and property management agreements were discussed. A primary difference is that listing agreements are short-term, while property management agreements contemplate a continuing relationship between manager and owner. There are no Real Estate Commission approved forms for property management. Owners and managers routinely … Continue Reading
Do you have customers who, but for a mistaken entry on their credit report, would otherwise qualify for a mortgage? Recognizing the importance of the credit reporting system, and its potential for error, Congress, in 1970, enacted the Fair Credit Reporting Act (Title 15, United States Code, Section 1681 et seq). Among its purposes … Continue Reading
Like-Kind Exchanges of Real Estate Like-kind exchanges under Internal Revenue Code Section 1031 are a popular method used by real estate investors for disposing of one property and acquiring another without recognition of taxable gain. When taxable gain is not recognized in a transaction, income taxes are not required to be paid as a result … Continue Reading
Part I The nature of a listing agreement is different from a property management agreement. With a sale listing, the owner and the broker contemplate a relatively short term relationship which terminates upon the sale of the property. Unless the seller carries financing, neither the seller nor the broker expect to deal with the property, … Continue Reading
With increasing frequency, real property owners are choosing to hold title in trusts. Once you put title into a trust, you don’t want to have problems conveying title out of the trust. You also don’t want creditors of the trustee to be able to lien the property of the trust. Such concerns should be much … Continue Reading
As health care providers compete for patients, they seek locations convenient for patients. This phenomenon has driven clinics, urgent care facilities, and other health care providers into general office and store front retail space Health care providers create special leasing issues. Among other things, health care providers work with chemicals, they produce biomedical waste, their … Continue Reading
