When it comes to real estate transactions, it’s common for parties to enter into contracts that outline the terms and conditions of the sale. While these contracts are typically binding and enforceable, there may be situations where one party fails to fulfill their obligations under the contract. In these cases, the non-breaching party may seek […]
Widerman Malek Law Blog
How a Florida Land Trust Can Help Investors Buy Properties When Taking Over Mortgage Payments
Florida real estate investors have long used land trusts as a versatile legal tool with multiple benefits. The basic framework of a land trust is as follows: The property owner conveys title through a deed to the new owner, the trust. The trustee of the trust holds legal title, while the beneficiary owns a beneficial interest in […]
What Is a Partition Action?
A partition action is one brought under chapter 64 of Florida Statutes. It is brought when there are multiple co-owners of a piece of property who cannot decide what to do with the property. In a partition action, the court can divide the property up among the various co-owners or the court can order the […]
How to Avoid “Notice of Contract” Legal Land Mines in Real Estate Deals
A common investor buyer practice, especially among wholesalers, is to file a document in the public records to preserve their contract rights and “cloud” the property’s title in case the seller fails to honor the contract. Investors are taught to file a “notice of contract” or similar document, which will turn up during a title […]
What Is the Bert Harris Private Property Protection Act?
Florida is one of the only states in the U.S. that has a statute that gives a cause of action to a property owner when the state or local government takes an action that reduces the value of a property. This occurs by interfering with an existing use or a vested right without that government […]
How to Use Seller-Financing to Generate Income From Inherited Real Estate
Inheriting Real Estate I previously have written about considerations for heirs inheriting real estate in Florida who want to sell the property, such as in this blog article: https://www.legalteamusa.net/strategic-default-appropriate-decision/. Now, I’ll discuss issues related to how heirs can generate income through seller-financing an estate property. Many heirs have a greater need for income than to […]
What Investors Should Know Before Buying Foreclosure Properties
Foreclosures A foreclosure surge is coming. The recession, unemployment, continuing pandemic crisis, and end of government foreclosure moratoriums and lender forbearance plans will lead to the next housing crisis. During the previous foreclosure wave, most homes were “upside down,” as values sank below the mortgage debt and created a short sale market. This time, foreclosure […]
Real Estate Investors & Bankruptcy: SARE and Economic Crisis Impacts
Economy and Real Estate Market The Federal Pandemic Unemployment Compensation program expired at the end of July, which likely will cause economic impacts on housing and the real estate market. Recent statistics may be an indicator of the direct effect that federal unemployment compensation has had on the economy. The National Multifamily Housing Council reported […]
Is Your Commercial Property Value Appraised too High by Your Local Property Appraiser?
August is approaching, and along with everything else that is currently impacting our lives, that means your local property appraiser will be mailing out proposed property taxes (TRIM Notice). Last year, I wrote an article about the process for challenging the property value appraisal of your property before the Value Adjustment Board. Last month, the […]
New Florida Law SB 1084 on Emotional Support Animals in Housing Is Effective July 1
Emotional Support Animal Laws in Florida The Florida legislature recently passed SB 1084 to create clarity and more consistent legal standards for emotional support animals (ESA) in housing. On July 1, 2020, the law went into effect. This article discusses some of the most significant aspects of the new law. People with disabilities and disability-related […]
