Category Archives: Real Estate
PROBLEMS IN PARADISE – HOMESTEAD TITLED TO YOUR TRUST AND LAPSED DEVICES
Recently, I’ve been involved in a case that has two major issues pertaining to real property and its distribution to the beneficiaries of a trust. One party says they are in control of a piece of property and that a specifically devised portion of property is also theirs. As you can imagine, the other… Read More »
Buyer Beware – Residential Versus Commercial Property
It is well known that a buyer of Commercial Property is on notice to investigate the property being purchased for any and all defects. That does not mean that if the Seller prevents the buyer from learning the facts of the property or creates an artifice or trick in such purchase that liability for… Read More »
Deeding Property to Avoid Probate – Bad Idea
Following the holidays there are a number of clients who come to see me and ask to have their children added to their property for the purposes of transferring such property at their death. In essence, they are looking to avoid probate. What they don’t realize is that such changes are fraught with potential… Read More »
Homeowner and Condo Association Documents
Before you purchase your dream home or condominium, beware of the association documents and deed restrictions that come with it. The law presumes that once you sign the contract to purchase, you are put on notice as to the restrictions placed upon your property as to how you may use it. Ideally, when you… Read More »
Real Estate Odds and Ends
Have you ever wondered about those documentary stamps that the government charges when you convey your property to another? If you have, you’re not alone, it is sometimes a mystery as to how the assessment is for the tax is made. You should think of it as a sales tax similar to the type… Read More »
Personal Representative Recovery of Homestead Expenses
It is well known that Florida law protects homeowners against forced sale from creditors. This also holds true when the owner of his or her primary Florida residence dies leaving judgment holders waiting to be paid. The protection against forced sale of a decedent’s homestead to pay creditors also passes to the heirs who… Read More »
Homestead – Wills and Trusts with Pay Debts on Death Clauses
When preparing a Will or Trust conveying your homestead to your children or other surviving descendants, be careful not to demand the property be sold to pay debts. Why you ask; consider the following facts, Mom has a Will prepared that states that all her property is to be sold to pay her debts… Read More »
Homestead – Will I Lose My Home and Who Will Get It
I often get asked if my spouse dies and he or she has many medical or nursing home bills that can’t be paid because of our financial situation, will I lose the home. The answer is NO with some caveats. If you are a Florida resident your home cannot be forcibly sold to pay… Read More »
Homestead – Life Estate or Joint Tenant in Common – Some Considerations?
Under normal conditions the passing of a married couples’ property is simple, the real property is held in joint names and at the death of one of the spouses the property immediately transfers to the surviving spouse by operation of law. But sometimes there is a breakdown in relationships or the married couple marries… Read More »
99 Year Leased Property Safe from Creditors
For those persons who reside in a development where the possession of property is based on a 99 year lease (e.g. certificates of membership are issued), you can now consider your property safe from forced sale by creditors during life and following death. In essence, the law now recognizes long term condominium leaseholds as… Read More »
