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October 2018 Archives

Adverse possession can erode profits from selling your property

If you own a piece of land, then it may be possible for someone who's staked a claim to it to acquire a valid title under adverse possession laws. The person who has claimed such rights to the property must have been utilizing it for a significant period of time. A person wishing to take adverse possession of a property must meet several other conditions as well.

Common disputes between condo associations and owners

Owning a condo in Florida comes with many perks. However, it can also come with a challenge: dealing with the condominium association. On the flip side, being a member of the board can be frustrating thanks to problematic owners. Both parties play important roles that can sometimes conflict with each other.

Clearwater couple sued over alleged breach of contract

When two parties enter into a binding and lawful contract and one party fails to uphold their end of the bargain, the other party may have the ability to pursue a legal claim for damages. In cases where the contact involved a loan or regular payments to be made by one party, if the other party fails to make those payments, then the amount to pursue in such a lawsuit is relatively straightforward.

Does a noncompete agreement hold up after an acquisition?

You sign a noncompete agreement when joining a company, knowing that it limits the scope of your work outside of that company but also thinking that you are probably never going to leave anyway. This is a dream job.

Trust litigation: What does it involve?

Trust litigation may erupt when the rights to a trust are not clear. An individual or a company, for example, could find that the language of the trust is ambiguous to the degree that its intentions are unclear -- or because one party is doggedly intent on interpreting the trust in an inappropriate manner.

What are the responsibilities of a trustee?

A trustee is required to do three primary things, which include managing, distributing and filing taxes on the assets contained within the trust. When these obligations will kick in is largely contingent upon the type of trust that its owner has set up. There are other responsibilities that trustees are legally mandated to carry out though. If they're unable to do so, then they should allow someone else to be appointed who can.

Should you trust a handshake deal?

A handshake deal often feels like a good idea when it is proposed. You know the other person. You both want to work together. It seems like a great partnership. If anything, you worry about coming off as insulting if you demand that the two of you sit down and write out a contract.

How to identify a Ponzi scheme

Many people fall victim to Ponzi schemes every year. They rarely work out for the perpetrator, as one Florida man discovered when police arrested him for conducting an elaborate case of fraud. 

What if I change my mind about an agreement to buy real estate?

The decision to buy a piece of real estate may be a decision that involves hundreds of thousands of dollars. Therefore, if you have agreed to buy real estate and later changed your mind, you probably want to do everything you can to get out of the agreement. Ultimately, it depends on several factors whether you will be able to get out of the deal.

Closing on the property you choose for your business

As we recently discussed, buying commercial property means that you need to do your due diligence. This isn't always easy to do when you have your mind set on purchasing a specific property. We realize that you have your company's interests in mind when you are reviewing potential properties. Thinking about the possibilities may cloud your ability to notice if something is amiss.

What are some common commercial buyer due diligence mistakes?

Commercial real estate transactions are handled differently from residential ones. With the former, there is less governmental oversight and few disclosures that buyers and sellers must sign. This can create liability issues for both parties involved in the transaction.

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