A Connecticut Real estate attorney must and at all times, make sure that the client has willingly firm and determined legally the rights to what concerns the client’s wants in a real estate situation. This includes the broad and extensive range of real estate asset types.
Moreover, a real estate lawyer should comprehend and be aware of the methods to obtain, communicate, portray and acquire each of the very huge number of classes and groups of real estate types. And of course, be able to advice a client which is possibly the most creative and financially beneficial.
A newcomer to real estate investing should learn the basic principles as well as the income tax treatment of real estate. This is also because there are many tax consequences and conflicts (either good or bad) that are often encountered in real estate ownership under several tax laws. Having high-quality legal work in the real estate practice area both shelters and adjoins outstanding value to the oldest exceptional asset in the world.
Transactions that occur in real estate vary from simple house closing including the title, survey, contract, home mortgage, and closing adjustments; to office leasing, warehouse, retail, manufacturing, and other space classes. It involves the financing for acquisition of real estate assets. It also includes the entitlement and permitting the use of real estate assets to construction, design and improvement or enhancement to these real estate assets as well as their development.
The value any capable Connecticut lawyer can add goes further than what the clients expect. Adding value with creative legal work contributes to the attainment of client necessities.
Moreover, real legal value draws from the structural constituent and building blocks that run from the lawyer’s familiarity, practice, and counseling in order to obtain tax benefits and eventually making the most of the asset value in the market. In addition, this fully apprehends the use of the real estate interest and concerns while constantly keeping in close contact with the client’s purposes and intentions.
A good real estate Connecticut lawyer not only counsels his or her client in their legal needs and queries but also deals with the problem with utmost care and concern to the consequences that may arise, while still fulfilling the client’s goals and expectations.
In the world of real estate, there are numerous situations that you may encounter once you become a real estate investor. And finding the right real estate lawyer must be the first priority. These real estate lawyers are the ones responsible for the legal needs and understand all legal transactions that you may not know at all. He or she is responsible for keeping you informed and aware of the legal problems and conflicts that can arise in relation to your real estate assets and investing needs.
Stu Pearson has an interest in Finance & Business and Real Estate Lawyer, for more FREE information and articles please visit Real Estate Lawyer Resources
Article Source: http://EzineArticles.com/?expert=Stu_Pearson
Thursday, August 30, 2007
Rhode Island Personal Injury Law FAQS and Automobile - Car Accidents - by a RI Lawyer - Attorney
Question: Should I negotiate with the insurance adjuster myself without the help of an attorney in order to settle a Rhode Island personal injury, slip and fall or automobile / auto / car accident case?
Answers: No. Representing yourself and negotiating with an insurance adjuster is usually not a good idea! Because you are not an attorney and have not handled personal injury matters before, you are often not aware of the full value of your case. The insurance adjuster may take advantage of your inexperience. Insurance adjusters typically will offer a lot less money to a person representing themselves than they would to an attorney representing a client. (Article by David Slepkow 401-437-1100)
Furthermore, when you are representing yourself in a Rhode Island personal injury or slip and fall case, the insurance company knows that you do not know how to litigate a lawsuit. Therefore you don’t have as much leverage with the insurance adjuster.
Question: How do Rhode Island personal injury lawyers charge for personal injury /automobile/ car accident and slip and fall cases?
Answer: Most lawyers In Rhode Island take personal injury, premises liability, dog bite cases, slip and fall and auto / car accidents on a contingent fee basis. Article by David slepkow (401-437-1100) This means that the lawyers do not collect any fees unless they are successful in settling your personal injury case or winning a verdict at trial. The lawyer typically will take the case costs from the settlement or verdict at the end of the case. Most attorneys advance case costs.
Question: If I hire a Rhode Island personal injury attorney, how does the process work?
Answer: You should retain a RI personal injury lawyer as soon as possible after the automobile or other accident. At the first meeting, the attorney typically will get all the important information concerning the accident including, but not limited to, the names of the witnesses, all injuries and the treating physician and doctors.
The attorney may want to visit the actual scene of the accident or slip and fall so that he can get further prospective on how the accident occurred. If the case is a slip and fall case, the lawyer should visit the scene of the accident if possible and interview potential witnesses. If you have any pictures of the accident scene, your damaged automobile, or of the resulting injuries, it is usually a good idea to show those to the lawyer.
If your lawyer is interested in taking the case, he or she will typically enter into a contingent fee personal injury fee agreement with you. You will need to provide a list of the names and addresses of all witnesses. Your lawyer will also ask you for the names and addresses of all treating physicians and the names and addresses of all hospitals and treating facilities. The lawyer will ask you to sign medical releases pursuant to federal law which will allow your lawyer to collect your medical bills and medical records from your health care provider concerning your injury.
The attorney will be very interested in knowing whether or not you have health insurance and the extent of your health insurance coverage. If your health insurance plan is covering your medical bills, they typically have a lien against any settlement proceeds you receive. It is necessary for your lawyer on your behalf to repay your health insurance company from the proceeds of any settlement or verdict that you receive. These liens typically can be negotiated with the health insurance company. Some insurance companies will typically lower their lien 25% to 33% to account for the work that your attorney has done on the case.
Sometimes, if liability or damage are in dispute, you can get a further reduction of the lien. Typically your lawyer will not be able to disburse any monies to you until he has paid the insurance company for the lien amount.
After the initial consultation and after you have retained the personal injury lawyer, the lawyer will typically do an investigation, if necessary, by calling witnesses, reviewing police reports, or doing anything else that is necessary to further your case. The attorney may need to read relevant Rhode Island negligence case law to evaluate the merits of your perspnal injury case. The attorney will collect your medical records and billing records. Obtaining your billing records for the accident from the medical providers is extremely important because the amount of medical bills that you have is a very important factor in determining the ultimate value of your case for settlement or trial purposes.
Your attorney typically will wait until he/she believes that you have reached a certain point in your medical treatment before he makes an offer to the insurance company to settle your personal injury case. Attorneys are typically concerned that they will settle the case prior to knowing the full extent of a person’s injuries. After an automobile accident case is settled and the release is signed, there is no way to get paid any further damages even if your injuries become substantially more severe. Therefore, it is usually not a good idea to settle the personal injury case prior to having some idea as to the extent of your injuries in the future. Your back, neck, shoulder or leg injury could get worse as time goes bye.
After the lawyer meets with you, he will typically send a letter of representation to all the insurance companies involved giving them general information about the case. The insurance company will open up a personal injury case file and respond to your attorney. Insurance companies are required by law to investigate the facts and look into the potential personal injury cause of action. When the attorney is comfortable that the right time has arrived, he or she will typically send a settlement package to the insurance company. This settlement letter usually includes an evaluation of the permanency of the injury, if any, and describes the pain and suffering of the client as well as any lost wages and medical bills incurred. The attorney typically includes in the settlement package an initial demand for settlement of the case.
The insurance company will usually reply to the letter with either an offer to settle the case or a denial of liability. If the insurance company is denying liability in the persoanl injury case and refusing to pay anything, then the attorney will have no choice but to file a lawsuit to seek damages. In the event that a settlement offer is made to the attorney, there usually will be a period of negotiation to see if the parties can agree to a settlement amount.
If the parties cannot agree to a settlement amount, it may be necessary to file a personal injury/ negligence law suit in either any of the Rhode Island District Courts or Rhode Island Superior Court. In Rhode Island (RI), most personal injury, automobile accident, premises liability and slip and fall cases are handled in Rhode Island Superior Court because matters over $10,000.00 in Rhode Island must be heard in Superior Court.
Question: My Rhode Island personal injury attorney is unable to settle my car accident case with the insurance adjuster, then what happens next?
Answer: If the attorney is unable to settle the case with the insurance adjuster, then it is necessary to file a lawsuit in court. The process of a Rhode Island personal injury civil lawsuit can take up to a few years to resolve. Your lawyer will file a complaint in court alleging negligence or other causes of action asking the court to award you damages. After the complaint is filed, the insurance company will typically hire an attorney to represent their insured. The insurance company’s lawyer will file an answer to the case.
After the complaint and answer are filed, there is usually a discovery period. The parties can send interrogatories to each other which are written questions that the other party must answer. The parties can also take depositions of witnesses which is when the other lawyer asks you questions about the case in front of a stenographer. After the discovery period, there may be a motion to dismiss or motions for summary judgment that are filed by either of the parties.
If the case is not dismissed or summarily decided, then the case will proceed to trial. The average amount of time for a law suit in Rhode Island is about two years, although the amount of time for the law suit could vary depending on how complex the case is, availability of witnesses, and the amount of cases on the docket.
Question: How do I obtain evidence of my personal injury in Rhode Island?
Answer: Please take photographs of all injuries including , but not limited to, cuts, bruises and broken bones. Do not wait too long after the accident. Please do the best that you can to obtain the witness names, addresses, phone numbers, and other information to give to your Rhode Island personal injury attorney. Please keep records of your out-of-pocket expenses for your medical bills, lost wages and other expenses incurred such as medication and medical accessories. You need to keep accurate records because you will need to provide them to the insurance company. If your injury was caused by a whiplash injury caused by a rear end accident you may need to hire an expert to testify on your behalf as to the seriousness of upper and lower back injuries caused by whiplash.
Question: Will my Rhode Island personal injury lawyer keep what I tell him confidential?
Answer: In Rhode Island there is an attorney-client privilege. Your attorney is precluded from disclosing confidential information that you do not want him to disclose to others. There is certain limited exceptions to the attorney-client privilege which usually do not apply.
Question: What type of costs are typically incurred in Rhode Island (RI) personal injury cases?
Answer: Out-of-pocketcosts, are expenses that are incurred by your lawyer to properly settle or litigate your case. The out of pocket expenses are usually advanced by the lawyer. Medical providers usually charge a nominal fee to copy your medical records. Most doctors also charge a fee to write a comprehensive medical report detailing your course of treatment, injury prognosis and whether or not your injuries are permanent. If it is necessary to have a doctor testify at the trial of your case, then the doctor may charge a substantial fee for his attendance.
Another example of out-of-pocket expenses that you may incur is a filing fee to file the complaint in Providence / kent / Newport or Washington County Superior Court and the fee for service of process of the personal injury complaint.
The amount of costs incurred in your case varies from case to case and depend on how complex your persoanl injury case is. The more serious your injuries are the more out of pocket expenses that may be incurred. Most attorneys will get prior approval before incurring a substantial cost on your behalf.
Rhode Island Personal Injury, automobile accident, slip and fall and premises liability law lawyer, David Slepkow has been practicing law for ten years. David Slepkow is a lawyer and partner at Slepkow Slepkow & Associates, Inc. in East Providence, Rhode Island. Slepkow Slepkow & Associates, Inc. was established in 1932 and is currently celebrating its 75th anniversary! Attorney, David Slepkow is a member of the Rhode Island (RI) and Massachusetts (MA) Bar Association and the Bar for the Federal Court First Circuit, District of Rhode Island. If necessary, David can arrange weekend and evening consults. David never charges any fee for personal injury case, automobile / auto/ car accidents and slip & fall cases unless sucessfull. David Slepkow is a member of the Family Law Inns of Court and the Rhode Island Trial Lawyers Association. You can contact David Slepkow at http://www.slepkowlaw.com or by calling him at 401-437-1100.
Article Source: http://EzineArticles.com/?expert=David_Slepkow
Answers: No. Representing yourself and negotiating with an insurance adjuster is usually not a good idea! Because you are not an attorney and have not handled personal injury matters before, you are often not aware of the full value of your case. The insurance adjuster may take advantage of your inexperience. Insurance adjusters typically will offer a lot less money to a person representing themselves than they would to an attorney representing a client. (Article by David Slepkow 401-437-1100)
Furthermore, when you are representing yourself in a Rhode Island personal injury or slip and fall case, the insurance company knows that you do not know how to litigate a lawsuit. Therefore you don’t have as much leverage with the insurance adjuster.
Question: How do Rhode Island personal injury lawyers charge for personal injury /automobile/ car accident and slip and fall cases?
Answer: Most lawyers In Rhode Island take personal injury, premises liability, dog bite cases, slip and fall and auto / car accidents on a contingent fee basis. Article by David slepkow (401-437-1100) This means that the lawyers do not collect any fees unless they are successful in settling your personal injury case or winning a verdict at trial. The lawyer typically will take the case costs from the settlement or verdict at the end of the case. Most attorneys advance case costs.
Question: If I hire a Rhode Island personal injury attorney, how does the process work?
Answer: You should retain a RI personal injury lawyer as soon as possible after the automobile or other accident. At the first meeting, the attorney typically will get all the important information concerning the accident including, but not limited to, the names of the witnesses, all injuries and the treating physician and doctors.
The attorney may want to visit the actual scene of the accident or slip and fall so that he can get further prospective on how the accident occurred. If the case is a slip and fall case, the lawyer should visit the scene of the accident if possible and interview potential witnesses. If you have any pictures of the accident scene, your damaged automobile, or of the resulting injuries, it is usually a good idea to show those to the lawyer.
If your lawyer is interested in taking the case, he or she will typically enter into a contingent fee personal injury fee agreement with you. You will need to provide a list of the names and addresses of all witnesses. Your lawyer will also ask you for the names and addresses of all treating physicians and the names and addresses of all hospitals and treating facilities. The lawyer will ask you to sign medical releases pursuant to federal law which will allow your lawyer to collect your medical bills and medical records from your health care provider concerning your injury.
The attorney will be very interested in knowing whether or not you have health insurance and the extent of your health insurance coverage. If your health insurance plan is covering your medical bills, they typically have a lien against any settlement proceeds you receive. It is necessary for your lawyer on your behalf to repay your health insurance company from the proceeds of any settlement or verdict that you receive. These liens typically can be negotiated with the health insurance company. Some insurance companies will typically lower their lien 25% to 33% to account for the work that your attorney has done on the case.
Sometimes, if liability or damage are in dispute, you can get a further reduction of the lien. Typically your lawyer will not be able to disburse any monies to you until he has paid the insurance company for the lien amount.
After the initial consultation and after you have retained the personal injury lawyer, the lawyer will typically do an investigation, if necessary, by calling witnesses, reviewing police reports, or doing anything else that is necessary to further your case. The attorney may need to read relevant Rhode Island negligence case law to evaluate the merits of your perspnal injury case. The attorney will collect your medical records and billing records. Obtaining your billing records for the accident from the medical providers is extremely important because the amount of medical bills that you have is a very important factor in determining the ultimate value of your case for settlement or trial purposes.
Your attorney typically will wait until he/she believes that you have reached a certain point in your medical treatment before he makes an offer to the insurance company to settle your personal injury case. Attorneys are typically concerned that they will settle the case prior to knowing the full extent of a person’s injuries. After an automobile accident case is settled and the release is signed, there is no way to get paid any further damages even if your injuries become substantially more severe. Therefore, it is usually not a good idea to settle the personal injury case prior to having some idea as to the extent of your injuries in the future. Your back, neck, shoulder or leg injury could get worse as time goes bye.
After the lawyer meets with you, he will typically send a letter of representation to all the insurance companies involved giving them general information about the case. The insurance company will open up a personal injury case file and respond to your attorney. Insurance companies are required by law to investigate the facts and look into the potential personal injury cause of action. When the attorney is comfortable that the right time has arrived, he or she will typically send a settlement package to the insurance company. This settlement letter usually includes an evaluation of the permanency of the injury, if any, and describes the pain and suffering of the client as well as any lost wages and medical bills incurred. The attorney typically includes in the settlement package an initial demand for settlement of the case.
The insurance company will usually reply to the letter with either an offer to settle the case or a denial of liability. If the insurance company is denying liability in the persoanl injury case and refusing to pay anything, then the attorney will have no choice but to file a lawsuit to seek damages. In the event that a settlement offer is made to the attorney, there usually will be a period of negotiation to see if the parties can agree to a settlement amount.
If the parties cannot agree to a settlement amount, it may be necessary to file a personal injury/ negligence law suit in either any of the Rhode Island District Courts or Rhode Island Superior Court. In Rhode Island (RI), most personal injury, automobile accident, premises liability and slip and fall cases are handled in Rhode Island Superior Court because matters over $10,000.00 in Rhode Island must be heard in Superior Court.
Question: My Rhode Island personal injury attorney is unable to settle my car accident case with the insurance adjuster, then what happens next?
Answer: If the attorney is unable to settle the case with the insurance adjuster, then it is necessary to file a lawsuit in court. The process of a Rhode Island personal injury civil lawsuit can take up to a few years to resolve. Your lawyer will file a complaint in court alleging negligence or other causes of action asking the court to award you damages. After the complaint is filed, the insurance company will typically hire an attorney to represent their insured. The insurance company’s lawyer will file an answer to the case.
After the complaint and answer are filed, there is usually a discovery period. The parties can send interrogatories to each other which are written questions that the other party must answer. The parties can also take depositions of witnesses which is when the other lawyer asks you questions about the case in front of a stenographer. After the discovery period, there may be a motion to dismiss or motions for summary judgment that are filed by either of the parties.
If the case is not dismissed or summarily decided, then the case will proceed to trial. The average amount of time for a law suit in Rhode Island is about two years, although the amount of time for the law suit could vary depending on how complex the case is, availability of witnesses, and the amount of cases on the docket.
Question: How do I obtain evidence of my personal injury in Rhode Island?
Answer: Please take photographs of all injuries including , but not limited to, cuts, bruises and broken bones. Do not wait too long after the accident. Please do the best that you can to obtain the witness names, addresses, phone numbers, and other information to give to your Rhode Island personal injury attorney. Please keep records of your out-of-pocket expenses for your medical bills, lost wages and other expenses incurred such as medication and medical accessories. You need to keep accurate records because you will need to provide them to the insurance company. If your injury was caused by a whiplash injury caused by a rear end accident you may need to hire an expert to testify on your behalf as to the seriousness of upper and lower back injuries caused by whiplash.
Question: Will my Rhode Island personal injury lawyer keep what I tell him confidential?
Answer: In Rhode Island there is an attorney-client privilege. Your attorney is precluded from disclosing confidential information that you do not want him to disclose to others. There is certain limited exceptions to the attorney-client privilege which usually do not apply.
Question: What type of costs are typically incurred in Rhode Island (RI) personal injury cases?
Answer: Out-of-pocketcosts, are expenses that are incurred by your lawyer to properly settle or litigate your case. The out of pocket expenses are usually advanced by the lawyer. Medical providers usually charge a nominal fee to copy your medical records. Most doctors also charge a fee to write a comprehensive medical report detailing your course of treatment, injury prognosis and whether or not your injuries are permanent. If it is necessary to have a doctor testify at the trial of your case, then the doctor may charge a substantial fee for his attendance.
Another example of out-of-pocket expenses that you may incur is a filing fee to file the complaint in Providence / kent / Newport or Washington County Superior Court and the fee for service of process of the personal injury complaint.
The amount of costs incurred in your case varies from case to case and depend on how complex your persoanl injury case is. The more serious your injuries are the more out of pocket expenses that may be incurred. Most attorneys will get prior approval before incurring a substantial cost on your behalf.
Rhode Island Personal Injury, automobile accident, slip and fall and premises liability law lawyer, David Slepkow has been practicing law for ten years. David Slepkow is a lawyer and partner at Slepkow Slepkow & Associates, Inc. in East Providence, Rhode Island. Slepkow Slepkow & Associates, Inc. was established in 1932 and is currently celebrating its 75th anniversary! Attorney, David Slepkow is a member of the Rhode Island (RI) and Massachusetts (MA) Bar Association and the Bar for the Federal Court First Circuit, District of Rhode Island. If necessary, David can arrange weekend and evening consults. David never charges any fee for personal injury case, automobile / auto/ car accidents and slip & fall cases unless sucessfull. David Slepkow is a member of the Family Law Inns of Court and the Rhode Island Trial Lawyers Association. You can contact David Slepkow at http://www.slepkowlaw.com or by calling him at 401-437-1100.
Article Source: http://EzineArticles.com/?expert=David_Slepkow
Property Law in Thailand
Thailand is becoming an ever more popular retirement and choice of country to live with its low costs and beautiful scenery not forgetting of course the world famous friendliness of the Thais themselves. But finding out about the laws governing property ownership here can be confusing. Here are the bare bones of Thai property Law
• A foreigner can own a condominiums long as less than 40% of the condos or apartments in the building are owned by foreigners. Many people believe it to be 49% although this regulation was an addition to the existing law and was only meant to be in place for one year and has since expired.
• A company can own property such as land and a house (and hence the foreigner can buy land and a house via their Thai registered company) as long as no one foreigner owns more that 39% of the company (recently amended from 33%) and total foreign ownership of the company does not exceed 49%.Still ambiguous and under review.
• The Thai wife of a foreigner can own property (a recently changed legal status due to gender equality in the new 1997 constitution revision), in her name only. This is fine as long as you don't have marital problems. (The same, of course, goes for a Thai husband, but the law was changed recently for Thai wives due to the new constitution guaranteeing equal rights.)
• A foreigner can lease land for 30 years, with an option for another 30 years, the first 30 years are guaranteed they are registered with the Land Department, however the second can be contested.
• If you gain BOI approval you may as a company is able to buy up to one rai of land. Although this is meant for very large investors.
At the end of the day if you are seriously looking to invest in Thailand you should consult a good lawyer who will be familiar with the latest property laws.
Chris Heath is the sole proprietor of Soho Properties a real estate agency located in Bangkok Thailand.
http://www.soho-properties.com
Article Source: http://EzineArticles.com/?expert=Chris_Heath
• A foreigner can own a condominiums long as less than 40% of the condos or apartments in the building are owned by foreigners. Many people believe it to be 49% although this regulation was an addition to the existing law and was only meant to be in place for one year and has since expired.
• A company can own property such as land and a house (and hence the foreigner can buy land and a house via their Thai registered company) as long as no one foreigner owns more that 39% of the company (recently amended from 33%) and total foreign ownership of the company does not exceed 49%.Still ambiguous and under review.
• The Thai wife of a foreigner can own property (a recently changed legal status due to gender equality in the new 1997 constitution revision), in her name only. This is fine as long as you don't have marital problems. (The same, of course, goes for a Thai husband, but the law was changed recently for Thai wives due to the new constitution guaranteeing equal rights.)
• A foreigner can lease land for 30 years, with an option for another 30 years, the first 30 years are guaranteed they are registered with the Land Department, however the second can be contested.
• If you gain BOI approval you may as a company is able to buy up to one rai of land. Although this is meant for very large investors.
At the end of the day if you are seriously looking to invest in Thailand you should consult a good lawyer who will be familiar with the latest property laws.
Chris Heath is the sole proprietor of Soho Properties a real estate agency located in Bangkok Thailand.
http://www.soho-properties.com
Article Source: http://EzineArticles.com/?expert=Chris_Heath
Real-Estate Deals And The Securities Laws
When assembling a real-estate deal involving other investors sometimes referred to as "syndication", one must comply with state and possibly federal securities laws. When securities are issued, they must be registered or fit within an exemption. Otherwise the investors later may be able to sue the principals B and the State and - or SEC can impose fines and jail sentences. Frequently an offering is structured to fit within exemptions to the laws that otherwise require registration of the securities. One must weigh the advertising needed, whether financial requirements will eliminate too many investors, whether investors will come from more than one state, etc. to determine the best exemption.
Definition of ASecurities@
The definition of Asecurities@ is quite broad. Under federal law the term Asecurity@ means any A note, stock...evidence of indebtedness, certificate of interest or participation in any profit-sharing agreement...@, etc. The California definition basically tracks the federal one. Note that this definition includes promissory notes secured by real estate, although there are exemptions to the securities laws that can apply in that case.
There are some exceptions to the definition of Asecurities@. General partnership interests are not considered securities, on the theory that general partners each have the authority to exercise meaningful control over the partnership. Limited partnership interests, though, are presumed to be securities.
If the investors are all tenants in common (meaning they are listed on the deed but there is no formal entity), then there are no securities -- but the owners all have the same personal liability as if they were general partners. Good insurance coverage is key in that case.
Limited liability company interests generally constitute securities. This is certainly true for manager-managed LLC=s. Still, there is an exception under California law for member-managed LLC= s where all of the members are actively engaged in management of the LLC. The California statute states that Asecurity@ does not mean :
a membership interest in a limited liability company in which the person claiming this exception can prove that all of the members are actively engaged in the management of the limited liability company; provided that evidence that members vote or have the right to vote, or the right to information concerning the business and affairs of the limited liability company, or the right to participate in management, shall not establish, without more, that all members are actively engaged in the management of the limited liability company....
As the definition shows, though, the members must be truly engaged in management, and not merely have the right to do so.
It is not yet clear whether there is a similar federal exemption (the cases seem to conflict), so the safer course at this time is to assume that offerings of LLC interests to residents of different states are securities under federal law.
There is also an exemption under California law for certain secured promissory notes. More specifically, there is an exemption for:
A promissory note secured by a lien on real property, which is neither one of a series of notes of equal priority secured by interests in the same real property nor a note in which beneficial interests are sold to more than one person or entity.
This works where there is just one investor per property. It does not work if there are different investors secured by the same property (unless each investor will have a lien with different priority). This is an unusual exemption in that it does not require any form to be filed with the State.
Also, if the promissory note has an equity (profit) "kicker" (versus just interest), then the note is a security.
Unfortunately, there is nothing comparable on the federal level.
General Rules
Generally the location of the investors (and not the state where the entity was formed) determine what securities laws apply. For example, if you sell securities just in California, then you only need to deal with California securities laws. If you sell in other states as well, you generally must also comply with federal securities laws and the laws of each state where you sell.
Because registering an offering of securities with state and/or federal agencies can be expensive and time-consuming, generally the offering is structured specifically to comply with one or more exemptions from registrations. These types of offerings are frequently called Aprivate placements@.
One of the consequences of using securities exemptions, though, is that B with some exceptions -- public advertising is not allowed. Where it is allowed, restrictions on the advertising usually apply.
Another consequence of using the securities exemptions is that many of them impose financial requirements on the investors.
Finally, most securities exemptions require the filing of completed exemption forms with the relevant state/federal securities agencies. Still, this is vastly simpler than formally registering the offering.
California Exemptions
If public advertising is required, then either a 25102(n) offering or a California SCOR offering offering must be used. See How the Securities May Be Sold below for a discussion of what does and does not constitute public advertising.
The California 25102(n) exemption allows up to $5 million to be raised, but only a Atombstone@ (bare bones) ad can be used B though it can be placed on a web site too B and only Aqualified@ purchasers can invest. Complete information about the offering can only be given to those who respond to the tombstone ad and then sign a document verifying that they are a qualified purchaser.
If the entity making the offering is a corporation (versus an LLC), then qualified purchasers for 25102(n) purposes are businesses with more than $5 million dollars in assets, and individuals with either a) a minimum net worth (in conjunction with their spouses) of $250,000 and gross income in excess of $100,000, or b) a minimum net worth of $500,000. The kicker is that the value of the residence must be excluded in both cases. In addition, the amount of the investment by each individual cannot exceed 10 percent of the net worth of the individual.
The 25102(n) exemption can also be used with an LLC, but then the investors have to meet the federal A accredited investor@ standards, which are discussed below.
Another alternative is the SCOR (Small Corporate Offering Registration) offering exemption. This is limited to offerings of up to $1 million. Unfortunately, California makes it much harder to conduct a SCOR offering than do other states. Audited financials are required for Aopen@ offerings (as opposed to those limited to, for example, accredited investors) or for offerings exceeding $500,000. The money raised may only be used for operations, not to retire debt, and California requires a minimum price of $2 per share. In addition, the exemption is limited to corporations (not LLC= s) with one class of stock. Finally, California requires that a SCOR offering be qualified by permit. This means that, unlike with most securities exemptions, the State has to approve the offering before it can be made. As a result, a SCOR offering involving California is usually not particularly attractive.
If public advertising is not required, the California 25102(f) and (h) exemptions are much easier to use.
These two exemptions have a number of similarities. Both have no limit on the dollar amount of the offering. Both are limited to 35 investors, although generally insiders and accredited investors are excluded from the count and spouses count as one investor.
One major difference is that the 25102(h) exemption is limited to corporations with one class of stock; the 25102(f) exemption can be used for all securities. This may be important because LLC= s are often used with real-estate investments, given that a Subchapter S corporation cannot be used if its income from passive investments (such as rents) is more than 25% of its total income for more than three years in a row. Another difficulty of using the 25102(h) exemption is that it does not allowing selling expenses (commissions, discounts to brokers, promotional expenses); the 25102(f) exemption does.
On the other hand, the 25102(f) exemption requires the investors to have a substantive pre-existing relationship with one or more principals of the company or the capacity to protect their own interests (alone or in conjunction with an investment advisor); the 25102(h) exemption has no restrictions on the type of investor. Also, while Ageneral solicitation@ is allowed with neither one, the 25102(h) exemption allows individual personal communications to anyone. In contrast, the 25102(f) exemption allows advertising to be made only to persons reasonably believed in advance to meet the 25102(f) qualifications. What that means is that with the 25102(h) exemption (but not the 25102(f) exemption), letters or emails regarding the offer can be sent to a list of potential investors without knowing anything about them.
Federal Exemptions
If the offering is being made to residents of more than one state, then the federal securities laws apply as well. That means that, with the exception of a federal Rule 506 offering (discussed below), the requirements for exemptions for both the state securities laws and the federal securities laws must be met.
The federal Rule 504 exemption may be attractive if the offering is for $1 million or less, since it allows public advertising and there are no investor qualifications.
If the offering is limited to accredited investors (defined below), there are approximately 40 states that have adopted the Model Accredited Investor Exemption (MAIE) B and no registration is required in those. The MAIE allows public advertising of a tombstone ad for the investment, much like the tombstone ad for the California 25102(n) exemption discussed above (although some states have variations).
The Rule 504 exemption may also be used in conjunction with a SCOR offering or (at least within California) the California 25102(n) exemption.
The federal Rule 505 exemption covers offerings up to $5 million. Although no general solicitation/advertising is allowed, there are no investor qualifications. It might possibly be combined with a California 25102(h) offering if one wanted to send individual offers to lists of individuals without knowing what their qualifications might be. Some other states also allow a Form D/Rule 505 filing rather than requiring their own exemption forms, although there are fewer of these states than those that have adopted the MAIE. As a result, the Rule 506 exemption is usually much more attractive.
The federal Rule 506 exemption allows offerings in unlimited amounts B but only to sophisticated or accredited investors. The big advantage this type of offering has is that it is exempt from all state regulation (although notices have to be filed in some states). In other words, no state is allowed to make any kind of review of the terms of the offering and possibly forbid the offering. For this reason, this exemption is frequently used.
The offering can only be made to individual accredited investors (although sophisticated investors may invest as well as long as there is a substantive pre-existing relationship).
Basically, accredited investors are:
Any organization not formed for the specific purpose of acquiring the securities offered and having total assets in excess of $5,000,000;
Any director, executive officer, or general partner of the issuer of the securities being offered or sold, or any director, executive officer, or general partner of a general partner of that issuer;
Any natural person whose individual net worth, or joint net worth with that person's spouse, at the time of the purchase exceeds $1,000,000;
Any natural person who had an individual income in excess of $200,000 in each of the two most recent years or joint income with that person's spouse in excess of $300,000 in each of those years and has a reasonable expectation of reaching the same income in the current year.
While the federal Regulation A exemption initially looks attractive because of its A test the water@ provision, the problem in California is that an application for qualification B which is relatively complicated B must be filed with the State first. Moreover, other states= securities laws apply to Reg. A offerings. (Reg. A offerings are also limited to a maximum of $5 million.) In addition, Reg. A Atest the waters@ offering can only be done by a licensed broker-dealer. If the entire offering is being done solely in California, the broker-dealer only has to be registered with California; if the securities are being offered to those in other states, the broker-dealer must also be registered with the SEC. Because of these restrictions, the Reg. A exemption is not very attractive.
Who May Sell the Securities
The general rule is that anyone who attempts to sell securities must be licensed as a broker.
Fortunately, California law states that this does not include an officer or director of the company making the offering or an individual occupying a similar status or performing similar functions (such as the manager of an LLC), assuming that he/she does not receive compensation specifically related to purchases or sales of securities. In other words, they can do it as part of a salary, but not, for example, on a commission basis.
Federal law is virtually the same.
Everyone else must hold a broker= s license. If the offering is being sold only in one state, then the broker needs to be licensed in that state only. If the offering is being sold in more than one state, then the broker must be licensed with the SEC as well.
How the Securities May Be Sold
As discussed above, the rule with many private placements is that public advertising is not allowed.
What you can do in those offerings is individually contact potential investors you reasonably believe meet the requirements of the securities exemption. (This often includes potential investors who have a substantive pre-existing business or social relationship with one or more of the principals.) You can contact them by letter, phone, email, etc. as long as the communication is targeted to them individually. What you cannot do is run a newspaper ad, set up a web site, pass out flyers, etc. offering to sell the securities. You also cannot send offers to sell to people on a list if you have no idea whether they meet the qualifications to be an investor. On the other hand, if, for example, you are making a Rule 506 offering, you can purchase a list of investors from a reputable company if the company warrants that it has pre-screened the investors and had a licensed broker determine that they are accredited investors; in that case, you can contact the potential investors on the list individually.
In addition, companies can provide information about themselves to the public as long as the information does not constitute an offer. In other words, as long as there is not an attempt to sell B or attempt to solicit an offer to buy B securities, you can provide information about what the entity is doing or plans to do.
For example, a company can have a web site that generally describes what the company is doing and says something like AFor more information, click here.@ (The web site itself, of course, cannot offer to sell any securities or elicit offers to buy the securities.) That link must then lead to an investor questionnaire/certification and a statement that it should be completed and returned to the company. That questionnaire/certification must then be reviewed a determination made as to whether the person is qualified. If and only if the person reasonably appears to be qualified, then offering materials may be sent and/or a password given to a special section of the web site that contains offering materials.
Another option is to hold Aeducational@ seminars where you present what the company is doing. The seminars, of course, cannot make or solicit any offer to invest. You can, though, pass out investor questionnaires and tell people that if they want more information about the company they need to complete the questionnaire and return it. Alternatively, you can mail or email the questionnaires to the attendees. The forms that are returned can then be reviewed to determine which investors qualify for the offering. You can then make an offering aimed solely at those who reasonably appear to be qualified.
Although the SEC is reconsidering the issue, if a federal securities exemption is being used (because not all the investors are from one state), then only a licensed broker can make the determination that a potential investor is qualified (unless the potential investor has a substantive pre-existing business or social relationship with one or more of the principals so that the principal reasonably believes the potential investor is qualified). This is not the case if the offering is being made only to potential investors in California.
Note that you cannot just ask potential investors if they are qualified to invest. Instead, you must use an investor questionnaire and have the answers reviewed to determine if the investor is qualified or not.
The foregoing article constitutes general information only and should not be relied upon as legal advice.
http://ezinearticles.com/?Real-Estate-Deals-And-The-Securities-Laws&id=589430
Definition of ASecurities@
The definition of Asecurities@ is quite broad. Under federal law the term Asecurity@ means any A note, stock...evidence of indebtedness, certificate of interest or participation in any profit-sharing agreement...@, etc. The California definition basically tracks the federal one. Note that this definition includes promissory notes secured by real estate, although there are exemptions to the securities laws that can apply in that case.
There are some exceptions to the definition of Asecurities@. General partnership interests are not considered securities, on the theory that general partners each have the authority to exercise meaningful control over the partnership. Limited partnership interests, though, are presumed to be securities.
If the investors are all tenants in common (meaning they are listed on the deed but there is no formal entity), then there are no securities -- but the owners all have the same personal liability as if they were general partners. Good insurance coverage is key in that case.
Limited liability company interests generally constitute securities. This is certainly true for manager-managed LLC=s. Still, there is an exception under California law for member-managed LLC= s where all of the members are actively engaged in management of the LLC. The California statute states that Asecurity@ does not mean :
a membership interest in a limited liability company in which the person claiming this exception can prove that all of the members are actively engaged in the management of the limited liability company; provided that evidence that members vote or have the right to vote, or the right to information concerning the business and affairs of the limited liability company, or the right to participate in management, shall not establish, without more, that all members are actively engaged in the management of the limited liability company....
As the definition shows, though, the members must be truly engaged in management, and not merely have the right to do so.
It is not yet clear whether there is a similar federal exemption (the cases seem to conflict), so the safer course at this time is to assume that offerings of LLC interests to residents of different states are securities under federal law.
There is also an exemption under California law for certain secured promissory notes. More specifically, there is an exemption for:
A promissory note secured by a lien on real property, which is neither one of a series of notes of equal priority secured by interests in the same real property nor a note in which beneficial interests are sold to more than one person or entity.
This works where there is just one investor per property. It does not work if there are different investors secured by the same property (unless each investor will have a lien with different priority). This is an unusual exemption in that it does not require any form to be filed with the State.
Also, if the promissory note has an equity (profit) "kicker" (versus just interest), then the note is a security.
Unfortunately, there is nothing comparable on the federal level.
General Rules
Generally the location of the investors (and not the state where the entity was formed) determine what securities laws apply. For example, if you sell securities just in California, then you only need to deal with California securities laws. If you sell in other states as well, you generally must also comply with federal securities laws and the laws of each state where you sell.
Because registering an offering of securities with state and/or federal agencies can be expensive and time-consuming, generally the offering is structured specifically to comply with one or more exemptions from registrations. These types of offerings are frequently called Aprivate placements@.
One of the consequences of using securities exemptions, though, is that B with some exceptions -- public advertising is not allowed. Where it is allowed, restrictions on the advertising usually apply.
Another consequence of using the securities exemptions is that many of them impose financial requirements on the investors.
Finally, most securities exemptions require the filing of completed exemption forms with the relevant state/federal securities agencies. Still, this is vastly simpler than formally registering the offering.
California Exemptions
If public advertising is required, then either a 25102(n) offering or a California SCOR offering offering must be used. See How the Securities May Be Sold below for a discussion of what does and does not constitute public advertising.
The California 25102(n) exemption allows up to $5 million to be raised, but only a Atombstone@ (bare bones) ad can be used B though it can be placed on a web site too B and only Aqualified@ purchasers can invest. Complete information about the offering can only be given to those who respond to the tombstone ad and then sign a document verifying that they are a qualified purchaser.
If the entity making the offering is a corporation (versus an LLC), then qualified purchasers for 25102(n) purposes are businesses with more than $5 million dollars in assets, and individuals with either a) a minimum net worth (in conjunction with their spouses) of $250,000 and gross income in excess of $100,000, or b) a minimum net worth of $500,000. The kicker is that the value of the residence must be excluded in both cases. In addition, the amount of the investment by each individual cannot exceed 10 percent of the net worth of the individual.
The 25102(n) exemption can also be used with an LLC, but then the investors have to meet the federal A accredited investor@ standards, which are discussed below.
Another alternative is the SCOR (Small Corporate Offering Registration) offering exemption. This is limited to offerings of up to $1 million. Unfortunately, California makes it much harder to conduct a SCOR offering than do other states. Audited financials are required for Aopen@ offerings (as opposed to those limited to, for example, accredited investors) or for offerings exceeding $500,000. The money raised may only be used for operations, not to retire debt, and California requires a minimum price of $2 per share. In addition, the exemption is limited to corporations (not LLC= s) with one class of stock. Finally, California requires that a SCOR offering be qualified by permit. This means that, unlike with most securities exemptions, the State has to approve the offering before it can be made. As a result, a SCOR offering involving California is usually not particularly attractive.
If public advertising is not required, the California 25102(f) and (h) exemptions are much easier to use.
These two exemptions have a number of similarities. Both have no limit on the dollar amount of the offering. Both are limited to 35 investors, although generally insiders and accredited investors are excluded from the count and spouses count as one investor.
One major difference is that the 25102(h) exemption is limited to corporations with one class of stock; the 25102(f) exemption can be used for all securities. This may be important because LLC= s are often used with real-estate investments, given that a Subchapter S corporation cannot be used if its income from passive investments (such as rents) is more than 25% of its total income for more than three years in a row. Another difficulty of using the 25102(h) exemption is that it does not allowing selling expenses (commissions, discounts to brokers, promotional expenses); the 25102(f) exemption does.
On the other hand, the 25102(f) exemption requires the investors to have a substantive pre-existing relationship with one or more principals of the company or the capacity to protect their own interests (alone or in conjunction with an investment advisor); the 25102(h) exemption has no restrictions on the type of investor. Also, while Ageneral solicitation@ is allowed with neither one, the 25102(h) exemption allows individual personal communications to anyone. In contrast, the 25102(f) exemption allows advertising to be made only to persons reasonably believed in advance to meet the 25102(f) qualifications. What that means is that with the 25102(h) exemption (but not the 25102(f) exemption), letters or emails regarding the offer can be sent to a list of potential investors without knowing anything about them.
Federal Exemptions
If the offering is being made to residents of more than one state, then the federal securities laws apply as well. That means that, with the exception of a federal Rule 506 offering (discussed below), the requirements for exemptions for both the state securities laws and the federal securities laws must be met.
The federal Rule 504 exemption may be attractive if the offering is for $1 million or less, since it allows public advertising and there are no investor qualifications.
If the offering is limited to accredited investors (defined below), there are approximately 40 states that have adopted the Model Accredited Investor Exemption (MAIE) B and no registration is required in those. The MAIE allows public advertising of a tombstone ad for the investment, much like the tombstone ad for the California 25102(n) exemption discussed above (although some states have variations).
The Rule 504 exemption may also be used in conjunction with a SCOR offering or (at least within California) the California 25102(n) exemption.
The federal Rule 505 exemption covers offerings up to $5 million. Although no general solicitation/advertising is allowed, there are no investor qualifications. It might possibly be combined with a California 25102(h) offering if one wanted to send individual offers to lists of individuals without knowing what their qualifications might be. Some other states also allow a Form D/Rule 505 filing rather than requiring their own exemption forms, although there are fewer of these states than those that have adopted the MAIE. As a result, the Rule 506 exemption is usually much more attractive.
The federal Rule 506 exemption allows offerings in unlimited amounts B but only to sophisticated or accredited investors. The big advantage this type of offering has is that it is exempt from all state regulation (although notices have to be filed in some states). In other words, no state is allowed to make any kind of review of the terms of the offering and possibly forbid the offering. For this reason, this exemption is frequently used.
The offering can only be made to individual accredited investors (although sophisticated investors may invest as well as long as there is a substantive pre-existing relationship).
Basically, accredited investors are:
Any organization not formed for the specific purpose of acquiring the securities offered and having total assets in excess of $5,000,000;
Any director, executive officer, or general partner of the issuer of the securities being offered or sold, or any director, executive officer, or general partner of a general partner of that issuer;
Any natural person whose individual net worth, or joint net worth with that person's spouse, at the time of the purchase exceeds $1,000,000;
Any natural person who had an individual income in excess of $200,000 in each of the two most recent years or joint income with that person's spouse in excess of $300,000 in each of those years and has a reasonable expectation of reaching the same income in the current year.
While the federal Regulation A exemption initially looks attractive because of its A test the water@ provision, the problem in California is that an application for qualification B which is relatively complicated B must be filed with the State first. Moreover, other states= securities laws apply to Reg. A offerings. (Reg. A offerings are also limited to a maximum of $5 million.) In addition, Reg. A Atest the waters@ offering can only be done by a licensed broker-dealer. If the entire offering is being done solely in California, the broker-dealer only has to be registered with California; if the securities are being offered to those in other states, the broker-dealer must also be registered with the SEC. Because of these restrictions, the Reg. A exemption is not very attractive.
Who May Sell the Securities
The general rule is that anyone who attempts to sell securities must be licensed as a broker.
Fortunately, California law states that this does not include an officer or director of the company making the offering or an individual occupying a similar status or performing similar functions (such as the manager of an LLC), assuming that he/she does not receive compensation specifically related to purchases or sales of securities. In other words, they can do it as part of a salary, but not, for example, on a commission basis.
Federal law is virtually the same.
Everyone else must hold a broker= s license. If the offering is being sold only in one state, then the broker needs to be licensed in that state only. If the offering is being sold in more than one state, then the broker must be licensed with the SEC as well.
How the Securities May Be Sold
As discussed above, the rule with many private placements is that public advertising is not allowed.
What you can do in those offerings is individually contact potential investors you reasonably believe meet the requirements of the securities exemption. (This often includes potential investors who have a substantive pre-existing business or social relationship with one or more of the principals.) You can contact them by letter, phone, email, etc. as long as the communication is targeted to them individually. What you cannot do is run a newspaper ad, set up a web site, pass out flyers, etc. offering to sell the securities. You also cannot send offers to sell to people on a list if you have no idea whether they meet the qualifications to be an investor. On the other hand, if, for example, you are making a Rule 506 offering, you can purchase a list of investors from a reputable company if the company warrants that it has pre-screened the investors and had a licensed broker determine that they are accredited investors; in that case, you can contact the potential investors on the list individually.
In addition, companies can provide information about themselves to the public as long as the information does not constitute an offer. In other words, as long as there is not an attempt to sell B or attempt to solicit an offer to buy B securities, you can provide information about what the entity is doing or plans to do.
For example, a company can have a web site that generally describes what the company is doing and says something like AFor more information, click here.@ (The web site itself, of course, cannot offer to sell any securities or elicit offers to buy the securities.) That link must then lead to an investor questionnaire/certification and a statement that it should be completed and returned to the company. That questionnaire/certification must then be reviewed a determination made as to whether the person is qualified. If and only if the person reasonably appears to be qualified, then offering materials may be sent and/or a password given to a special section of the web site that contains offering materials.
Another option is to hold Aeducational@ seminars where you present what the company is doing. The seminars, of course, cannot make or solicit any offer to invest. You can, though, pass out investor questionnaires and tell people that if they want more information about the company they need to complete the questionnaire and return it. Alternatively, you can mail or email the questionnaires to the attendees. The forms that are returned can then be reviewed to determine which investors qualify for the offering. You can then make an offering aimed solely at those who reasonably appear to be qualified.
Although the SEC is reconsidering the issue, if a federal securities exemption is being used (because not all the investors are from one state), then only a licensed broker can make the determination that a potential investor is qualified (unless the potential investor has a substantive pre-existing business or social relationship with one or more of the principals so that the principal reasonably believes the potential investor is qualified). This is not the case if the offering is being made only to potential investors in California.
Note that you cannot just ask potential investors if they are qualified to invest. Instead, you must use an investor questionnaire and have the answers reviewed to determine if the investor is qualified or not.
The foregoing article constitutes general information only and should not be relied upon as legal advice.
http://ezinearticles.com/?Real-Estate-Deals-And-The-Securities-Laws&id=589430
RI Real Estate Law - Purchase and Sales Agreements - Single Family
In Rhode Island most buy and sell agreements (purchase and sales agreements) for single-family homes are on a form prepared by the Rhode Island Association of Realtors. The Purchase and Sales Agreement is a very important legal document that typically sets forth the sales price, time, date and place of the residential real estate closing, contingencies based on financing, as well as many other provisions.
You may attempt to negotiate modifications to this agreement and are not obligated to sign the standard form. Prior to signing the Purchase and Sales Agreement, the buyer should contact a Rhode Island lawyer / attorney who specializes in real estate law, residential real estate closings and title law.
This agreement was drafted with the intent to be fair to both buyers and sellers of residential real estate; however, the buyer should not sign this agreement without paying careful attention to all of the provisions including the following provisions:
1. The agreement provides for a certain number of days within which buyer must apply for his/her mortgage. Pursuant to the terms of the standard Rhode Island Purchase and Sales Agreement, if the buyer fails to apply for the mortgage, his deposit will be forfeited. Please make certain that you allow enough days for this application to be made.
2. The agreement provides that if the buyer applies for a mortgage greater than the amount set forth in the Purchase and Sales Agreement, buyer will have no right to obtain a return of his deposit if his mortgage application is denied. Buyer should be certain that the amount filled in for his proposed mortgage is in fact the highest amount that he intends to apply for.
3. The agreement provides that the buyer must accept the property with any easements or restrictions of record that impact the property. The buyer should read the Rhode Island Real Estate Sales Disclosure Form prior to signing the Purchase and Sales Agreement. Rhode Island Law requires that the seller of residential real estate in RI notify the buyer of any restrictions or easements. Buyer should check the disclosure form and if the seller indicates that there are restrictions or easements, buyer should read them prior to signing the Purchase and Sales Agreement. If the buyer does not understand the legal implications of the restriction or easement, then they should contact their real estate attorney.
4. Buyer’s right to a return of their deposit in the event they are not satisfied with house inspections, such as physical/mechanical, pest infestation and septic system, depends on the inspector finding a substantial / materially deficient condition which has not been disclosed to the buyer prior to the execution of the Purchase and Sales Agreement. This means that the buyer should carefully read the Real Estate Disclosure supplied by the seller prior to signing the Purchase and Sales Agreement to make certain that seller has not disclosed existing deficient conditions on the property in this form. If deficient conditions have been disclosed, the Purchase and Sales Agreement should be amended to indicate that buyer may terminate the agreement based upon these deficient conditions
Matthew Slepkow is a Rhode Island attorney who concentrates in Real Estate law including residential and commercial closings and title law. Mathew is a Partner at Slepkow Slepkow & Associates, Inc. which is one of the largest residential real estate and title law firms in the State of Rhode Island and has performed over 40,000 real estate closings.
Matthew also has substantial experience in Probate Law, Wills, Trusts, Estate Planning, Elder Law, Business / Corporate law and the general practice of law. Mathew is a Professor at Roger Williams Law School teaching Real Estate Transactions. Matthew has a particular expertise in legal issues concerning the Elderly and Senior Citizens in Rhode Island (RI). Particularly, Matt is experienced and is knowledgeable in helping the elderly with Estate Planning and helping them protect their home from nursing home liens.
You can contact Mathew Slepkow at http://www.slepkowlaw.com or by calling him at 401-437-1100.
Article Source: http://EzineArticles.com/?expert=Matthew_Slepkow
You may attempt to negotiate modifications to this agreement and are not obligated to sign the standard form. Prior to signing the Purchase and Sales Agreement, the buyer should contact a Rhode Island lawyer / attorney who specializes in real estate law, residential real estate closings and title law.
This agreement was drafted with the intent to be fair to both buyers and sellers of residential real estate; however, the buyer should not sign this agreement without paying careful attention to all of the provisions including the following provisions:
1. The agreement provides for a certain number of days within which buyer must apply for his/her mortgage. Pursuant to the terms of the standard Rhode Island Purchase and Sales Agreement, if the buyer fails to apply for the mortgage, his deposit will be forfeited. Please make certain that you allow enough days for this application to be made.
2. The agreement provides that if the buyer applies for a mortgage greater than the amount set forth in the Purchase and Sales Agreement, buyer will have no right to obtain a return of his deposit if his mortgage application is denied. Buyer should be certain that the amount filled in for his proposed mortgage is in fact the highest amount that he intends to apply for.
3. The agreement provides that the buyer must accept the property with any easements or restrictions of record that impact the property. The buyer should read the Rhode Island Real Estate Sales Disclosure Form prior to signing the Purchase and Sales Agreement. Rhode Island Law requires that the seller of residential real estate in RI notify the buyer of any restrictions or easements. Buyer should check the disclosure form and if the seller indicates that there are restrictions or easements, buyer should read them prior to signing the Purchase and Sales Agreement. If the buyer does not understand the legal implications of the restriction or easement, then they should contact their real estate attorney.
4. Buyer’s right to a return of their deposit in the event they are not satisfied with house inspections, such as physical/mechanical, pest infestation and septic system, depends on the inspector finding a substantial / materially deficient condition which has not been disclosed to the buyer prior to the execution of the Purchase and Sales Agreement. This means that the buyer should carefully read the Real Estate Disclosure supplied by the seller prior to signing the Purchase and Sales Agreement to make certain that seller has not disclosed existing deficient conditions on the property in this form. If deficient conditions have been disclosed, the Purchase and Sales Agreement should be amended to indicate that buyer may terminate the agreement based upon these deficient conditions
Matthew Slepkow is a Rhode Island attorney who concentrates in Real Estate law including residential and commercial closings and title law. Mathew is a Partner at Slepkow Slepkow & Associates, Inc. which is one of the largest residential real estate and title law firms in the State of Rhode Island and has performed over 40,000 real estate closings.
Matthew also has substantial experience in Probate Law, Wills, Trusts, Estate Planning, Elder Law, Business / Corporate law and the general practice of law. Mathew is a Professor at Roger Williams Law School teaching Real Estate Transactions. Matthew has a particular expertise in legal issues concerning the Elderly and Senior Citizens in Rhode Island (RI). Particularly, Matt is experienced and is knowledgeable in helping the elderly with Estate Planning and helping them protect their home from nursing home liens.
You can contact Mathew Slepkow at http://www.slepkowlaw.com or by calling him at 401-437-1100.
Article Source: http://EzineArticles.com/?expert=Matthew_Slepkow
The Services of a Property (Real Estate) Law Firm
Many people, when purchasing or selling real estate, are unfamiliar with the laws and practices. A Property Law Firm can help an individual or business understand all of the legal aspects of buying or selling real estate. This is an extremely valuable resource that can make the selling or purchasing of real estate much smoother for an individual or a large corporation
Numerous property law firms work beside both private and corporate international clients. A property lawyer is experienced in all of the arenas of commercial law. This includes corporate takeovers, foreign investment rules, property investment portfolios and information technology. This type of lawyer must not only be able to invest in a successful real estate project but also develop successful real estate projects.
One of the most popular services that a property law firm performs is a contracts review. This means that an experienced lawyer is given the task of reviewing contracts to sell, buy, estate, lease of land, land and house, condominium, apartment and villa prepared by the seller or project. Also, the lawyer is in charge of revising the contracts in order to ensure the optimum interest of the buyer.
Another service provided by a property law firm is contracts drafting. A lawyer will draft all legal contracts to buy, sell or lease of real estate for individual clients or for project clients. Contracts can be drafted that deal specifically with the Leasehold or Freehold approach.
Land due diligence is a type of service that deals with the quintessential step in the acquisition process that is designed to check the legitimacy of purchasing property or real estate.
A property law firm is also a great resource for receiving advice that deals with the legal and tax aspects that can affect an individual acquiring property or making a return on the investment. One of the goals of a real estate lawyer is to devise a plan to maximize the return.
A property law firm can also prepare the necessary document that is needed for the transfer or conveyance of property. These documents include expenses estimation and the property transfer. All of the above mentioned services are usually performed for individual clients.
A property lawyer can also handle the needs of corporations and businesses. This particular lawyer is knowledgeable in company formation. Meaning that the lawyer is able to help a corporation become established or move to another location.
A property lawyer can also give advice on applying for an extended VISA or work permit on top of several other services. A property law firm is a very important resource to rely on when purchasing or selling real estate.
Contact Info:
For more information or to get in touch with The Property Law Firm please contact Robin E. Troy (Solicitor) or visit The Property Law Firm website:
Manager: Robin E. Troy (Solicitor)
Phone: 01534 607838
Fax: 01534 607839
Email: enquiries@thepropertylawfirm.com
URL: http://www.thepropertylawfirm.com
Lucy Boutaleb is a professional writer who, along with other professional authors’ from CopyWritersWorld writes articles on many different topics for the Internet. This article has been created for The Property Law Firm in Jersey. You are invited to visit them on: http://www.thepropertylawfirm.com a young and friendly practice who specialise in commercial and residential property law advice and many other non-criminal based legal issues.
Article Source: http://EzineArticles.com/?expert=Lucy_Boutaleb
Numerous property law firms work beside both private and corporate international clients. A property lawyer is experienced in all of the arenas of commercial law. This includes corporate takeovers, foreign investment rules, property investment portfolios and information technology. This type of lawyer must not only be able to invest in a successful real estate project but also develop successful real estate projects.
One of the most popular services that a property law firm performs is a contracts review. This means that an experienced lawyer is given the task of reviewing contracts to sell, buy, estate, lease of land, land and house, condominium, apartment and villa prepared by the seller or project. Also, the lawyer is in charge of revising the contracts in order to ensure the optimum interest of the buyer.
Another service provided by a property law firm is contracts drafting. A lawyer will draft all legal contracts to buy, sell or lease of real estate for individual clients or for project clients. Contracts can be drafted that deal specifically with the Leasehold or Freehold approach.
Land due diligence is a type of service that deals with the quintessential step in the acquisition process that is designed to check the legitimacy of purchasing property or real estate.
A property law firm is also a great resource for receiving advice that deals with the legal and tax aspects that can affect an individual acquiring property or making a return on the investment. One of the goals of a real estate lawyer is to devise a plan to maximize the return.
A property law firm can also prepare the necessary document that is needed for the transfer or conveyance of property. These documents include expenses estimation and the property transfer. All of the above mentioned services are usually performed for individual clients.
A property lawyer can also handle the needs of corporations and businesses. This particular lawyer is knowledgeable in company formation. Meaning that the lawyer is able to help a corporation become established or move to another location.
A property lawyer can also give advice on applying for an extended VISA or work permit on top of several other services. A property law firm is a very important resource to rely on when purchasing or selling real estate.
Contact Info:
For more information or to get in touch with The Property Law Firm please contact Robin E. Troy (Solicitor) or visit The Property Law Firm website:
Manager: Robin E. Troy (Solicitor)
Phone: 01534 607838
Fax: 01534 607839
Email: enquiries@thepropertylawfirm.com
URL: http://www.thepropertylawfirm.com
Lucy Boutaleb is a professional writer who, along with other professional authors’ from CopyWritersWorld writes articles on many different topics for the Internet. This article has been created for The Property Law Firm in Jersey. You are invited to visit them on: http://www.thepropertylawfirm.com a young and friendly practice who specialise in commercial and residential property law advice and many other non-criminal based legal issues.
Article Source: http://EzineArticles.com/?expert=Lucy_Boutaleb
A Real Estate Lawyer Does More Than Assist With Closures
A real estate lawyer also handles disputes that may arise between a landlord and tenant. Wrongful evictions, damage to rental property and accidents on a persons property are other types of cases that a real estate lawyer handles.
If a mortgage company is sold to another party, then a real estate lawyer can assist a person desiring to get a lien released. If a contract is not honored, a real estate lawyer can also help one get out of a signed contract. Cases like this would be if a landlord agrees to a set monthly payment for a set number of years yet tries to increase your lease payments before your lease has expired. A real estate lawyer can either settle the dispute by notifying the landlord that he has to abide by his contract or if you wish to be absolved of the lease then a real estate lawyer can help to remove your contractual obligations.
In cases of divorce, a real estate lawyer should be consulted so that each party gets their equal share of the property assets. If one party wishes to keep the home without selling it to an outside party, the real estate lawyer can draft the documents needed to ensure that one party keeps the home while the other party gets his or her compensation. This usually involves one party paying the other for their share of the home.
If one has purchased a new home and finds that it is damaged in any way or if one has purchased an older home with damage that they were not notified about (such as termite damage), a real estate lawyer is certainly needed to handle these types of cases. A home costs a lot of money and undisclosed damages can become quite expensive. Sometimes they can lead to a home being condemned.
A real estate lawyer can assist a person so that he or she can get his or her money back for the home. In some cases, he can handle the tasks needed to ensure that the selling party pays for any undisclosed damages.
Of course, when it concerns cases of damaged property, one would have to prove that the seller knew of the damage and failed to let the buying party know about it. A real estate lawyer has experience in handling these types of cases and also experience when needing to prove that the seller knew of the damages before a sale.
Another type of case that a real estate lawyer can handle is when disputes arise over insurance claims. If one has insurance against fire damage and their home burns to the ground, a real estate lawyer should be hired if the insurance company refuses to pay just compensation.
A real estate lawyer can negotiate with the insurance company to get his or her client’s fair compensation for not only the market value of their home but also for the contents that were destroyed in the fire if these were covered in the insurance.
Other types of insurance claims that a real estate lawyer can handle are acts of nature, fire or water damage and, of course, vandalism. If one ever encounters problems with a claim they may have with their insurance company, one should always hire a real estate lawyer to assist with the claim.
For researched and comprehensive information on real estate lawyer go to Lawyers
Article Source: http://EzineArticles.com/?expert=Salihu_Ibrahim
If a mortgage company is sold to another party, then a real estate lawyer can assist a person desiring to get a lien released. If a contract is not honored, a real estate lawyer can also help one get out of a signed contract. Cases like this would be if a landlord agrees to a set monthly payment for a set number of years yet tries to increase your lease payments before your lease has expired. A real estate lawyer can either settle the dispute by notifying the landlord that he has to abide by his contract or if you wish to be absolved of the lease then a real estate lawyer can help to remove your contractual obligations.
In cases of divorce, a real estate lawyer should be consulted so that each party gets their equal share of the property assets. If one party wishes to keep the home without selling it to an outside party, the real estate lawyer can draft the documents needed to ensure that one party keeps the home while the other party gets his or her compensation. This usually involves one party paying the other for their share of the home.
If one has purchased a new home and finds that it is damaged in any way or if one has purchased an older home with damage that they were not notified about (such as termite damage), a real estate lawyer is certainly needed to handle these types of cases. A home costs a lot of money and undisclosed damages can become quite expensive. Sometimes they can lead to a home being condemned.
A real estate lawyer can assist a person so that he or she can get his or her money back for the home. In some cases, he can handle the tasks needed to ensure that the selling party pays for any undisclosed damages.
Of course, when it concerns cases of damaged property, one would have to prove that the seller knew of the damage and failed to let the buying party know about it. A real estate lawyer has experience in handling these types of cases and also experience when needing to prove that the seller knew of the damages before a sale.
Another type of case that a real estate lawyer can handle is when disputes arise over insurance claims. If one has insurance against fire damage and their home burns to the ground, a real estate lawyer should be hired if the insurance company refuses to pay just compensation.
A real estate lawyer can negotiate with the insurance company to get his or her client’s fair compensation for not only the market value of their home but also for the contents that were destroyed in the fire if these were covered in the insurance.
Other types of insurance claims that a real estate lawyer can handle are acts of nature, fire or water damage and, of course, vandalism. If one ever encounters problems with a claim they may have with their insurance company, one should always hire a real estate lawyer to assist with the claim.
For researched and comprehensive information on real estate lawyer go to Lawyers
Article Source: http://EzineArticles.com/?expert=Salihu_Ibrahim
Finding a Lawyer in Wilmington
There are numerous lawyers in Delaware and the city of Wilmington that you can choose from. Many of the lawyer that you can choose from specializes in a certain type of law. There are several different reasons why one may need a lawyer. If you are selling or purchasing real estate or property you may want to have a lawyer that specializes in the field of real estate law. A real estate lawyer will be able to draw up the legal contracts that are necessary when buying or selling a house or property. Plus the lawyer can check into the legalities of other real estate property you may be interested in. Another type of lawyer is one that deals in injuries or accidents.
This type of lawyer is very important if someone injured you or you got hurt because of an accident on the job. There is even a law firm that covers bicycle accidents in Wilmington. Other types of lawyer that you may want to employ the services of are lawyers who specialize in divorce, personal law suits, small claims and criminal law. When you are searching for a lawyer or a lawyer you may want to look in your local Yellow Pages. Another way to find a lawyer in your area would be to look on the Internet. Several reputable lawyers have web sites for potential clients to view.
Whatever you needs are there is a lawyer or a lawyer that can handle your case. So many times people do not hire a lawyer when an accident occurs or in real estate proceedings or when having to go to court. People who do not employ the services of a lawyer usually do not make out as well. Make sure you have legal protection by hiring a lawyer or a lawyer. A lawyer is your friend in a time of need.
Written by Ingrid Thomason. Find more information on outdoor lighting as well as landscape lighting
Article Source: http://EzineArticles.com/?expert=Ingrid_Thomason
This type of lawyer is very important if someone injured you or you got hurt because of an accident on the job. There is even a law firm that covers bicycle accidents in Wilmington. Other types of lawyer that you may want to employ the services of are lawyers who specialize in divorce, personal law suits, small claims and criminal law. When you are searching for a lawyer or a lawyer you may want to look in your local Yellow Pages. Another way to find a lawyer in your area would be to look on the Internet. Several reputable lawyers have web sites for potential clients to view.
Whatever you needs are there is a lawyer or a lawyer that can handle your case. So many times people do not hire a lawyer when an accident occurs or in real estate proceedings or when having to go to court. People who do not employ the services of a lawyer usually do not make out as well. Make sure you have legal protection by hiring a lawyer or a lawyer. A lawyer is your friend in a time of need.
Written by Ingrid Thomason. Find more information on outdoor lighting as well as landscape lighting
Article Source: http://EzineArticles.com/?expert=Ingrid_Thomason
Real Estate Transactions - Sign Your Document Prudently
In Real Estate Laws, you are entitled to know what documents you are signing and why. You have to be reasonably sure that you are not rushed or pressured into signing something even before you fully understand it. It is for your own protection that you should clearly understand what you are signing, why you are signing, and its consequences.
Certain precautions should be taken when signing documents governed by the Indian Real Estate Laws. Real estate purchase and sale agreements, leases or rental agreements, Real Estate agreements signify significant financial obligations. It is rarely possible to avoid legal obligations of an agreement, once it is signed. The legal implications of legal forms must be clearly understood.
Always read a document before you sign it
Under Property Law in India a Real Estate legal document represents a highly legally binding agreement or promise to which, upon signing, you agree to what it says—not what you think it says. It generally cannot be altered unless both parties agree. Moreover, you may require legal help. Your signature could legally bind you to certain actions or payments.
It is sensible to prevent problems than to amend them
If an agreement involves complicated legal language, you may want to hire India Legal services to have all the provisions reviewed before you sign. Insist on receiving a copy of the signed document. Property Laws in India favour a written contract documents so if you are uncertain about signing a document, seek legal information and advice.
Instances of property disputes in India are many and promises that are not included in the written contract cannot be relied upon.
Signing Contracts
A purchase and sale of real property can be a complex transaction and may require you to hire Indian legal services. When making an investment, a lawyer can provide information on India laws online and in person as well.
You can seek Legal services in India in Real Estate to protect yourself against fraud or deceptive and unscrupulous behavior. You can insist that before you sign the document—that oral promises or representations should be written into the agreement.
Lease and Rental Agreements
One of the most common situations warranting caution while signing a written contract arises when renting a home, apartment, commercial space or other property. A lease creates a tenant's right to use property for a specified term. Make sure all oral agreements are written into the contract.
The "lease" or "rental agreement," should cover all terms of the agreement with the property owner, especially the rent amount, dates of possession, notification requirements to terminate the lease, lease agreements and subletting/transferring the lease, or occupancy and use of the premises.
Formalities in Signing Documents
There are certain formalities that must be observed when signing documents. While witnessing a will, for instance, the witnesses must sign the document in the presence of the person making the will or the testator. Documents such as property deeds require the signature to be acknowledged before a public officer (usually a notary public).
You may be asked to co-sign an instrument or document, for instance a promissory note or a guaranty to accommodate someone else. Though you are not directly involved in a transaction, you may be personally liable for the obligation created by that document if that person fails to pay or perform the obligations required by the document. Make sure that you have ample confidence in the financial ability of that other person and in his or her integrity.
Contract Terms
Know the terms of a contract and do your homework before signing any contract. Defying mortgage terms means that the mortgagor has full rights to that home if you back out of your promise for payment. It is a good idea to have a lawyer or agent present for the closing of the deal.
Real Estate lawyers and Agents are adept at the closing process and can explain the related paperwork.
Vikram Singh is a contributing author to the website indianrealtylaws.com - The Indian property law portal. It is committed to provide visitors with complete information on Property Laws in India, Indian Real Estate Laws, Legal Process Outsourcing, Property Disputes in India, Indian legal services etc. Your can send your feedback at vikram.singhg@gmail.com
Article Source: http://EzineArticles.com/?expert=Vikram_K_Singh
Certain precautions should be taken when signing documents governed by the Indian Real Estate Laws. Real estate purchase and sale agreements, leases or rental agreements, Real Estate agreements signify significant financial obligations. It is rarely possible to avoid legal obligations of an agreement, once it is signed. The legal implications of legal forms must be clearly understood.
Always read a document before you sign it
Under Property Law in India a Real Estate legal document represents a highly legally binding agreement or promise to which, upon signing, you agree to what it says—not what you think it says. It generally cannot be altered unless both parties agree. Moreover, you may require legal help. Your signature could legally bind you to certain actions or payments.
It is sensible to prevent problems than to amend them
If an agreement involves complicated legal language, you may want to hire India Legal services to have all the provisions reviewed before you sign. Insist on receiving a copy of the signed document. Property Laws in India favour a written contract documents so if you are uncertain about signing a document, seek legal information and advice.
Instances of property disputes in India are many and promises that are not included in the written contract cannot be relied upon.
Signing Contracts
A purchase and sale of real property can be a complex transaction and may require you to hire Indian legal services. When making an investment, a lawyer can provide information on India laws online and in person as well.
You can seek Legal services in India in Real Estate to protect yourself against fraud or deceptive and unscrupulous behavior. You can insist that before you sign the document—that oral promises or representations should be written into the agreement.
Lease and Rental Agreements
One of the most common situations warranting caution while signing a written contract arises when renting a home, apartment, commercial space or other property. A lease creates a tenant's right to use property for a specified term. Make sure all oral agreements are written into the contract.
The "lease" or "rental agreement," should cover all terms of the agreement with the property owner, especially the rent amount, dates of possession, notification requirements to terminate the lease, lease agreements and subletting/transferring the lease, or occupancy and use of the premises.
Formalities in Signing Documents
There are certain formalities that must be observed when signing documents. While witnessing a will, for instance, the witnesses must sign the document in the presence of the person making the will or the testator. Documents such as property deeds require the signature to be acknowledged before a public officer (usually a notary public).
You may be asked to co-sign an instrument or document, for instance a promissory note or a guaranty to accommodate someone else. Though you are not directly involved in a transaction, you may be personally liable for the obligation created by that document if that person fails to pay or perform the obligations required by the document. Make sure that you have ample confidence in the financial ability of that other person and in his or her integrity.
Contract Terms
Know the terms of a contract and do your homework before signing any contract. Defying mortgage terms means that the mortgagor has full rights to that home if you back out of your promise for payment. It is a good idea to have a lawyer or agent present for the closing of the deal.
Real Estate lawyers and Agents are adept at the closing process and can explain the related paperwork.
Vikram Singh is a contributing author to the website indianrealtylaws.com - The Indian property law portal. It is committed to provide visitors with complete information on Property Laws in India, Indian Real Estate Laws, Legal Process Outsourcing, Property Disputes in India, Indian legal services etc. Your can send your feedback at vikram.singhg@gmail.com
Article Source: http://EzineArticles.com/?expert=Vikram_K_Singh
Should You Use an Attorney or Notary on Real Estate Loan Transactions
The process of acquiring a home loan is exciting and the closing is the moment that everyone looks forward to. The closings of yesteryear, however, traditionally took place with an attorney present to provide for a witness to the signature and the witness of the loan documents at large.
While an attorney is the traditional and more commonly used facilitator of the signature, is he/she really necessary and what, in fact, does the attorney do for the closing?
In most cases there is not a structured answer to that question as each closing in different. However, as we view the attorney’s part in the typical signing, we see a reason to look at another alternative for your signings as well, that being the Notary Public or Loan Signing Agent.
For the most part the attorney affords little more than a feeling of security about what we’ve signed. With the charges being significantly more than that of the notary, we feel somehow that we’ve done the best thing by virtue of the fact that a licensed attorney charged us a bundle to accomplish the task.
Did he/she do it any better or more safely than the notary could have?
The answer to that is probably not.
In nearly every state for the past twenty years, notaries have served as signing agents in real estate closings. A notary offering to service these loan closings are able to do so as a lower cost alternative for customers.
Today many notaries are specifically trained in the Real Estate closing process, whether it is as a title agent, a real estate agent, a loan officer or Loan Signing Agent; and they are certified by the states in which they live, or by a licensing agency. Although some states do not require this education, the majority of notaries that choose to work in this field will take the educational classes available through reputable organizations such as the National Notary Association or the American Society of Notaries.
Is a notary signing appropriate for your closing? That depends on the legislation in your state as to whether or not you may use a third party, or Notary Public to witness your closing.
Legislation varies so widely from state to state that the legalities of a notary helping to facilitate your loan closing will also vary in different states. Certain state laws stipulate that closings must be performed only in the presence of a licensed escrow agent while other states, such as Maryland and Illinois, require a notary to be a licensed title agent. Still other State’s legislation unequivocally requires that only an attorney may attend a signing of this nature.
After some research into the statutes of the states that legislate that only an attorney may perform real estate loan closings, we find that Georgia, Massachusetts, West Virginia and Delaware have no restrictions listed under the notary laws. However, in South Carolina the law specifically states that a notary cannot witness the signing of real estate loan documents. Then in Connecticut & South Dakota there is conflict and speculation as to whether it is strictly attorney or not.
One point that needs to be made in view of the legislation in those states that are providing for attorney-only attended signings is that very few attorneys actually attend the signings personally as many of them view a signing or closing to be a small and unimportant detail. They simply don’t believe it worth their time to attend, though they are paid very well. In a lot of cases, the attorney will send a junior member of his/her staff to attend the signing, and to do the closing. This person is not necessarily an attorney; it could be their paralegal, secretary, or even a notary they have hired just for this purpose. Then, once the signed paperwork is presented to their office, the attorney will sign off on it as if they were in attendance at the actual signing.
These attendees the attorney sends may not even have any understanding or training in real estate or loan signings and are most probably far less qualified than the Notary that has specifically trained to become a loan signing agent.
By and large, there seems to be a significant lack of guidance from the varying and diverse state laws and no real continuity from state to state with regards to what is and is not legal to permit the notary to do. An example of this is that in Florida it is legal for a notary to perform marriages, where in Tennessee this would be considered illegal. As with housing, each state has its own laws regarding the closings, yet the actual events do not differ greatly from state to state.
When a notary seeks out legislation that will provide for their attendance or a valid and viable description of their duties, very often it is not found; and what little legislation is found often lies hidden within some other aspect of the law. In those states which do provide for lawyer-only real estate loan closings, it seems that the actual laws are in fact a court’s decision, which of course was attended to by a judge and attorney and could in fact be looked upon as self-serving at best.
In reality, in each state that was examined which permitted the use of notary publics to close real estate loans, the complaints were minimal in comparison. The service was well liked and respected and the cost was nominal compared to that of an attorney. In light of this and the fact that closings and signings are truly common and often witnessed in many states with minimal difficulties by mobile notaries or notary publics, it certainly appears to be in your best interests to use a notary if your state legislation provides for the use of one in a loan signing.
To discover if your state allows for notary signings, check with your loan officer. He or she will be able to answer the questions as to whether it is available in your state. Please note: This article is not meant to be construed as legal advice. Check with your own state’s laws regarding loan document closing requirements.
S M Nesbit is the founder and CEO of NNBS, Inc. that specializes in real estate loan closings and title searches. For more information visit AnytimeServices.com You may use this article on your website, provide Resource Box and Copyright information stays intact. Copyright 2007 SM Nesbit All rights reserved
Article Source: http://EzineArticles.com/?expert=S_M_Nesbit
How To Incorporate Yourself Without a Lawyer
You could save hundreds of dollars by incorporating yourself without a lawyer. How? Is it advisable to do so?
1. This is Not Legal Advice!
The only ones who should be giving legal advice are those licensed to practise law (in other words, only lawyers). This article is not legal advice. If you need legal advice, consult a lawyer.
This article is being written simply to inform you that it is possible to form a corporation or limited liability company without a lawyer.
2. Why Use a Lawyer?
First of all, if you make a mistake incorporating yourself, who do you sue? You only have yourself to blame. On the other hand, a lawyer has insurance to cover errors and omissions.
Secondly, you could benefit from the expertise of your lawyer. Perhaps a corporation isn`t the right vehicle for you under your circumstances. Be aware that there can be disadvantages as well as advantages to incorporating. Your lawyer can consider commercial law, securities legislation, limited liability, tax factors, estate planning, share structure, and a myriad of other business considerations. Sometimes the advice of a good lawyer can save you thousands of dollars.
3. Is it Advisable to Incorporate Yourself?
Is it advisable to perform surgery on yourself? It is illegal to perform surgery on someone else unless you are licensed to practise medicine, but perhaps in a wilderness survival scenario, self-surgery might be your only option. However, is performing surgery on yourself really a good idea in most instances?
Likewise, just because it is possible to incorporate yourself without a lawyer doesn`t mean it is always a good idea.
In some jurisdictions, only lawyers can incorporate others. For a paralegal or other person to incorporate a company for you could be considered unauthorized practise of law. Thus, it may be legal to incorporate yourself but not others.
Some factors you might consider are: Am I really that short of cash that I can`t spend the extra money for good legal advice that may save me thousands of dollars? Am I confident that my situation is one that really doesn`t need the services of a lawyer to incorporate? Can the money saved on legal fees be better utilized in financing other aspects of my business?
Each person will have to make their own decision on whether or not to seek the services of a lawyer in forming a corporation.
"He who has himself as a lawyer has a fool for a client." I have often thought that perhaps a law firm originated this common expression.
4. How To Incorporate Yourself
Many books have been written by lawyers on how to incorporate yourself.
For example, in Canada, M. Stephen Georgas, LL.B., has written books on the subject of forming your own corporation. Published by International Self-Counsel Press Ltd., he has authored "Incorporation and Business Guide for Ontario" ("How to form your own corporation Includes tax advantages to incorporating") and "Federal Incorporation And Business Guide" ("How to form your own Federal corporation under The Canada Business Corporations Act").
The same publisher sells forms and minute books as well as titles for incorporating in other provinces of Canada.
Forms, corporate supplies, name searches, and kits are available from legal stationers and other sources.
In the United States, there are likewise many manuals available for incorporating yourself in various states. "How To Form Your Own Corporation Without a Lawyer for Under $75.00" by Ted Nicholas is one such book.
Sometimes helpful information on this subject is available from federal, provincial and state governments for free or nominal cost.
You can sometimes locate incorporation manuals at your local library for free. Be careful. Legal manuals become outdated very rapidly. You might consider very seriously purchasing the most up-to-date manual available; it might also include helpful reference material on maintaining corporate minutes and other helpful suggestions on operating your corporation.
Buy the appropriate manual and supplies and then follow the instructions. With a little effort, you could save hundreds of dollars incorporating yourself without a lawyer.
For further resources on incorporation, please visit:
http://www.yenommarketinginc.com/incorporation.html
http://ezinearticles.com/?How-To-Incorporate-Yourself-Without-a-Lawyer&id=166
1. This is Not Legal Advice!
The only ones who should be giving legal advice are those licensed to practise law (in other words, only lawyers). This article is not legal advice. If you need legal advice, consult a lawyer.
This article is being written simply to inform you that it is possible to form a corporation or limited liability company without a lawyer.
2. Why Use a Lawyer?
First of all, if you make a mistake incorporating yourself, who do you sue? You only have yourself to blame. On the other hand, a lawyer has insurance to cover errors and omissions.
Secondly, you could benefit from the expertise of your lawyer. Perhaps a corporation isn`t the right vehicle for you under your circumstances. Be aware that there can be disadvantages as well as advantages to incorporating. Your lawyer can consider commercial law, securities legislation, limited liability, tax factors, estate planning, share structure, and a myriad of other business considerations. Sometimes the advice of a good lawyer can save you thousands of dollars.
3. Is it Advisable to Incorporate Yourself?
Is it advisable to perform surgery on yourself? It is illegal to perform surgery on someone else unless you are licensed to practise medicine, but perhaps in a wilderness survival scenario, self-surgery might be your only option. However, is performing surgery on yourself really a good idea in most instances?
Likewise, just because it is possible to incorporate yourself without a lawyer doesn`t mean it is always a good idea.
In some jurisdictions, only lawyers can incorporate others. For a paralegal or other person to incorporate a company for you could be considered unauthorized practise of law. Thus, it may be legal to incorporate yourself but not others.
Some factors you might consider are: Am I really that short of cash that I can`t spend the extra money for good legal advice that may save me thousands of dollars? Am I confident that my situation is one that really doesn`t need the services of a lawyer to incorporate? Can the money saved on legal fees be better utilized in financing other aspects of my business?
Each person will have to make their own decision on whether or not to seek the services of a lawyer in forming a corporation.
"He who has himself as a lawyer has a fool for a client." I have often thought that perhaps a law firm originated this common expression.
4. How To Incorporate Yourself
Many books have been written by lawyers on how to incorporate yourself.
For example, in Canada, M. Stephen Georgas, LL.B., has written books on the subject of forming your own corporation. Published by International Self-Counsel Press Ltd., he has authored "Incorporation and Business Guide for Ontario" ("How to form your own corporation Includes tax advantages to incorporating") and "Federal Incorporation And Business Guide" ("How to form your own Federal corporation under The Canada Business Corporations Act").
The same publisher sells forms and minute books as well as titles for incorporating in other provinces of Canada.
Forms, corporate supplies, name searches, and kits are available from legal stationers and other sources.
In the United States, there are likewise many manuals available for incorporating yourself in various states. "How To Form Your Own Corporation Without a Lawyer for Under $75.00" by Ted Nicholas is one such book.
Sometimes helpful information on this subject is available from federal, provincial and state governments for free or nominal cost.
You can sometimes locate incorporation manuals at your local library for free. Be careful. Legal manuals become outdated very rapidly. You might consider very seriously purchasing the most up-to-date manual available; it might also include helpful reference material on maintaining corporate minutes and other helpful suggestions on operating your corporation.
Buy the appropriate manual and supplies and then follow the instructions. With a little effort, you could save hundreds of dollars incorporating yourself without a lawyer.
For further resources on incorporation, please visit:
http://www.yenommarketinginc.com/incorporation.html
http://ezinearticles.com/?How-To-Incorporate-Yourself-Without-a-Lawyer&id=166
The New Drug Recall Lawyers
Given the monstrous size and profitability of drug companies, some plaintiff lawyers are considering focusing more of their practice on drug litigation. In fact, shortly after Merck's announcement of the Vioxx recall, some large plaintiff firms started aggressive media campaigns aimed at bringing in prescription drug injury victims. The media blitz has been non stop. Billboards, TV, web marketing, radio, and direct mail are just some of the marketing vehicles that attorneys have used to try and find new cases for them to work on. Many plaintiff law firms are no longer focusing on chasing run of the mill car accidents. Some of them have gone so far as to reposition themselves as “drug recall lawyers,” seeing that the future of their practice may be shaped by the initial outcome of these new pharmaceutical cases.
When Merck chose to withdraw Vioxx, the CEO stated that a voluntary recall was the responsible course of action. Prior to pulling Vioxx from the market, Merck was spending $500 Million per year on advertising Vioxx. Vioxx is classified as a non-steroidal anti-inflammatory drug, or NSAID. However, Vioxx belongs to a new family of NSAIDs called “COX-2 inhibitors.” There are not many COX-2 inhibitors on the market in the US: Bextra and Celebrex may be the only other two.
Both the number of potential Vioxx plaintiffs and award amounts of the lawsuits are projected to be extremely large. The investment bank S.G. Cowan recently estimated that eventually more than 600,000 plaintiffs could file suit in the Vioxx case. Furthermore, some investment banks think that plaintiffs may file for more than $10Billion in damages in years to come. Even the national TV networks have covered the Vioxx withdrawal. A November 2004 story on the Vioxx withdrawal appeared on CBS News' 60 Minutes. The CBS story implied that the US Justice Department is conducting an investigation and the Securities and Exchange Commission is looking into Merck's conduct. Given the media coverage of the Vioxx withdrawal and the number of people who were prescribed Vioxx, there may be many new “Drug Recall Firms” founded in years to come.
Article Source: http://www.articleset.com
When Merck chose to withdraw Vioxx, the CEO stated that a voluntary recall was the responsible course of action. Prior to pulling Vioxx from the market, Merck was spending $500 Million per year on advertising Vioxx. Vioxx is classified as a non-steroidal anti-inflammatory drug, or NSAID. However, Vioxx belongs to a new family of NSAIDs called “COX-2 inhibitors.” There are not many COX-2 inhibitors on the market in the US: Bextra and Celebrex may be the only other two.
Both the number of potential Vioxx plaintiffs and award amounts of the lawsuits are projected to be extremely large. The investment bank S.G. Cowan recently estimated that eventually more than 600,000 plaintiffs could file suit in the Vioxx case. Furthermore, some investment banks think that plaintiffs may file for more than $10Billion in damages in years to come. Even the national TV networks have covered the Vioxx withdrawal. A November 2004 story on the Vioxx withdrawal appeared on CBS News' 60 Minutes. The CBS story implied that the US Justice Department is conducting an investigation and the Securities and Exchange Commission is looking into Merck's conduct. Given the media coverage of the Vioxx withdrawal and the number of people who were prescribed Vioxx, there may be many new “Drug Recall Firms” founded in years to come.
Article Source: http://www.articleset.com
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