Buyer closes on a home purchase in December. The prior owners held title for thirty years and occupied the property as their homestead. Tax pro-rations are based on last year’s taxes in the amount of $3,000.00 (this is the custom and practice in the industry). Both parties sign a re-proration agreement agreeing to adjust tax […]
In light of the Covid-19 pandemic, does the Force Majeure clause allow a Seller or Buyer to back out of a Florida residential real property contract? Whether you are a Buyer or Seller, numerous contracts will be canceled or delayed due to the Covid-19 pandemic. In many instances, one of the parties will argue […]
How do I settle my dispute regarding jointly owned real property? Often, two or more persons will buy a piece of investment property with high hopes of collecting rent, paying off the mortgage and providing an income stream. In many instances, disputes arise regarding maintenance, improvements, collection of rent, etc. When these disputes become irreconcilable, […]
Is it important to understand your contract in connection with your residential real estate purchase? Consider the case of Florida Investment Group v. Lafont, 271 So. 3d 1 (Fla. 4DCA 2019). In Lafont, the Buyer had a financing contingency which stated that the contract was subject to the Buyer obtaining a conventional fixed rate loan […]
Over seven (7) years ago, I installed a fence that is on a portion of my neighbor’s yard. Is it now my property? We have been asked this and similar questions regarding adverse possession and boundary disputes. There typically is not an easy answer. There are specific requirements for claiming ownership of another’s property […]
Gibbons | Neuman is pleased to announce that partner and firm President, Rod B. Neuman, was selected as a Top-rated Real Estate Attorney to the 2019 Florida Super Lawyers®, part of Thomson Reuters.
Gibbons | Neuman Attorney/Mediator Rod Neuman presented to a group of eager, inquisitive real estate agents at Keller Williams Grand Central on the subject of mediation. The topic is very pertinent for realtors because of the mandatory mediation provisions contained in most residential real estate contracts. The group had an informative discussion as exemplified by […]
Be careful! In all likelihood, under both scenarios, you will be responsible for paying all charges (assessments, interest, and attorneys’ fees) that were incurred and owed by the prior owner. You may want to wait and allow the lender to purchase the property at the foreclosure sale and then try to negotiate with the lender […]
The limited liability company is a popular business entity for owners of investment real property who wish to protect themselves from business debts and liabilities. To form a limited liability company (“LLC”) in Florida, the essential document which must be filed with the state is the Articles of Organization. It identifies the LLC’s members (owners), […]
During the foreclosure crisis, a large number of investors purchased properties coming through foreclosure sales thinking that all possible liens against the properties had been wiped out in the foreclosure proceedings. Although it is critically important to have the title examined in order to determine that all proper parties were included in the suit […]