Real Estate Law Articles
Articles written by attorneys and experts worldwide
discussing legal aspects related to Real Estate.
Clarifying some of the problematic issues related with testaments of foreign persons who have properties in Bulgaria.
Unmarried and in a Relationship: Protecting Your Rights with a Cohabitation Agreement in Massachusetts
Massachusetts does not recognize any rights for a couple that cohabit. This means that if your in an unmarried relationship and it fails, you do not have the right to palimony, separate support, alimony, property division or claim for loss of consortium. On top of this, the Commonwealth does not recognize “common law marriage”.
Mortgage default risk continues to plague the housing recovery. A new report issued by the American Enterprise Institute indicated that the national mortgage default risk remained high in March, even though it dropped slightly from February.
The Home Equity Theft Prevention Act ("HETPA") became effective on February 1, 2007 and now governs certain sales of homes in foreclosure or default. If you are planning to sell a home in foreclosure or default, you should be aware of your rights under the Act, and know what to expect from a legitimate buyer. The Home Equity Theft Prevention Act was passed in response to recent scams which targeted homeowners in financial distress (often elderly or unsophisticated homeowners).
In real estate transactions in Spain it still happens more often than not that acquired objects or extensions have to be dismantled because renovations or extensions were not properly authorised or the authorisation was not registered with the different agencies involved. Subsequent permits are possible in some cases, but they do require a special process and incur substantial expenses.
It is customary to increase rents at lease contracts annually almost all around the world. Generally, the main source of such increase is inflation of monetary currencies and revaluation of the properties leased. However, there are legislative restrictions at many jurisdictions, limiting such application or predetermination based on contractual freedom on rental increases.
To say that the situation in Nevada between federal officials and cattle rancher Clive Bundy has gotten out of hand would be an understatement.
A common law system (one where previous court opinions define the meaning of the law) can be very useful. It can also result in some rather bizarre arguments being taken seriously, and even garnering the support of some members of the Supreme Court. Case in point: the plaintiffs position in Schuette v BAMN which the Supreme Court decided this week.
Occasionally unexpected issues arise that delay, or even stop, a real estate closing. There are also situations in which a Purchaser obtains title to property, and after closing learns that the property is subject to significant problems that would have been disclosed by the advice of an attorney or the review of a survey. Here are four recent examples:
Seizure of the Barries' Colorado dream cabin shows how arbitrary and nasty the power of eminent domain can be.
The question whether the General Meeting of the Shareholders in a limited liability company (OOD) should adopt a special resolution for the conclusion of a transaction for transfer of ownership over real estate was disputable in Bulgarian legal theory and practice. The Supreme Cassation Court finally resolved this issue.
Fighting The Post-Bankruptcy Survival Of Federal Tax Liens On Property Excluded From The Bankruptcy Estate
The federal tax collection system is founded on the concept of voluntary compliance. The United States government expects taxpayers to compute and timely pay all taxes owed. Most taxpayers fulfill this obligation. However, a minority refuse to comply. Those falling within the latter category are subject to forced collection and various penalties.
By LPA Law Firm
Law No. 8561, dated 22.12.1999, “On Expropriations and Temporary Posession of Private Property for a Public Interest” regulates the right of the state to expropriate or take for temporary use of a public interest the properties of physical persons or legal entities, as well as the protection of the rights and interests of the respective owners.
With the support of an extensive network of professionals (tax advisors, architects, civil engineers, business consultants), a complete series of informative, practical guides focusing on the most important fields of Greek law is available to private individuals, professionals and companies.
Greek government instated a procedure to obtain permanent residence permits, which can be renewed every five years, for third-country citizens who own real estate in Greece of minimum value €250.000, adopting a friendlier stance towards those who wish to own real estate property in Greece.
Our practical guide to real estate in Greece covers the entire spectrum of legal and tax issues which arise in practice when purchasing, managing, utilizing, developing and reselling property in Greece. It is addressed to both Greek nationals and foreign citizens of other European and non-EU countries who have a practical interest in legal and tax matters in Greece, with the aim of facilitating entrepreneurship and more generally the access of foreigners to the Greek market.
New measures to promote enterprise creation and real estate property transfer in Ivory Coast.
Transactions related to the acquisition of real estate in Poland usually require a large investment funds. Potential risks associated with such transactions should, therefore, be subject to a particularly careful evaluation. The negative effects of omissions of legal defects or adverse facts relating to property acquisitions may endanger not only the viability of the project, but sometimes even the financial stability of the entrepreneur.
A summary of some of the pertinent information with respect to purchasing real estate in Israel.
In California any taxpayer can bring a lawsuit to stop the implementation of a law that she believes is unconstitutional provided that she is a resident taxpayer of the area affected and public funds will be spent to implement the challenged law.
To bring into reality a living in Jakarta that is more orderly, peaceful, comfortable, clean and beautiful, a regulation relating public order is required to protect the citizens and infrastructure of the city including its accessories. Performing public order and peacefulness of the people is an obligation authorized to the provincial district government that has to be carried out in accordance with the legislation.
Law Number 1 of 2011 on Housing and Settlement (“Housing and Settlement Law”) has already regulated the proportional occupancy. Under Article 34, every legal entity who intends to conduct development of housing and settlement has to implement proportional occupancy.
The rise of civil asset forfeiture as a means of increasing government revenues.
By LPA Law Firm
Below is a detailed summary of the steps, time and cost involved in registering property in Albania. It assumes a standardized case of an entrepreneur who wants to purchase land and a building that is already registered and free of title dispute.
California Cities Can’t Avoid Constitutional Liability for A Taking by Dissolving their Redevelopment Agencies
For years local redevelopment agencies were the bane of private property rights in California. Until recently these agencies were clothed with the power to seize private homes through eminent domain and then give that property to private developers like Costco or Wal-Mart, all in the name of community development.
Eminent domain lawyers analyze California cities seizing underwater mortgages through eminent domain.
John Smith and Michael Jones are two friends who enjoy fixing and remodeling homes. They decide to go into business together, to buy distressed properties through foreclosure sales, to repair and remodel them, and then to sell the remodeled homes for a profit. They shake hands and agree to proceed, with each contributing one half of all expenses, and with each sharing one half of the profits. John Smith then comes to me for advice.
When renting out a property you own, it is only natural to want to make the most money and incur the least expense. Unfortunately, for some landlords, this leads to cutting corners in the legal department; a potentially very costly mistake. The following are a few common mistakes landlords make during the eviction process and what you can do to avoid them:
Ever had the house guest you just cannot get to leave? Maybe someone you thought you could share a relationship with and things did not work out, or a friend or family member who just cramps your lifestyle, eats your food, and does not contribute to the bills? Whatever the case may be, getting someone out who has overstayed their welcome can sometime be a very difficult task. So, how do you throw someone out of your house?
A common question among small business owners is who will be responsible for debts and other obligations if a business entity folds or reorganizes. Many things can happen in the life of a business entity, whether a corporation, LLC, partnership, or sole proprietorship, and this can lead to questions about who will be left holding the bag.
Persons who are married have certain legal rights and protections that they don't even think about. However, there are other couples who have long-term, committed relationships who have things a bit more difficult. This article will show the issues that should be considered by persons who are involved in a non-ceremonial marriage in Texas, and how to prevent a problem.
Millions of Americans work from home, either all of the time or on occasion. But, if a fire, flood, or natural disaster were to hit your home, would your insurance cover the lost business revenues, office equipment, or property belonging to your company?
Under certain circumstances, the commercial use of a single family home can be contrary to the lease.
Project finance means the term applied to a variety of financing structures that have a few features in common. There are lots of participants take place in Project financing, namely; project sponsor, suppliers, contractors, bondholders and the other parties.
When any sort of natural disaster hits, it can be terrifying. Once it has passed, though, victims are often left wondering what they need to do to pick up the pieces. Is there anything they need to do in filing their insurance claims to make sure that they will get paid soon and as much as possible? This is especially important for those whose houses are destroyed and who have lost everything.
The construction contract in an international project financing serves to give the project company a fully completed and equipped facility. In addition, it provides for delivery by the contractor of a facility that satisfies specified performance criteria, for a fixed or predictable price, and completed on a specific date.
As the real estate market in the U.S. has made a strong indication of recovery, some outside of the United States have begun to look again at American real estate investments as a possibility. This leads some to wonder, though, whether it is even possible for a foreigner to buy real estate in the U.S.? If so, are there any special laws to be aware of or taxes that must be paid?
The increasing scarcity of land that can be used for commercial purposes in a city center such as Jakarta, requires efficient management of construction development in the city center. To realize sustainable development, and use the available land efficiently, a recently developed concept known as the superblock concept has been integrated in the urban area.
In an effort to boost the property market and enhance the attractiveness of Cyprus for foreign investment, Cyprus has implemented measures that allow for citizens of non EU countries to acquire more than one property in Cyprus, provided that certain conditions are met.
When dealing with a contract dispute, particularly in the case of an oral contract, one may hear the term “statute of frauds” used. This does not refer to the commission of an actual fraud, but rather, whether the contract had to be in writing or not. So what is the statute of frauds and when does it apply?
A grant of an easement by a property owner can often resolve disputes between neighbors resulting from encroachments of fences, driveways, and roof overhangs by one property owner onto another person’s property. An easement is a formal grant of permission by an owner of land in favor of the owner of a second parcel of land, which grants the second parcel owner the legal right to cross over and/or to utilize a portion of the first parcel owner’s land.
Clients frequently ask how they should take title when purchasing real property. This question encompasses a consideration of the goals of each client, and if appropriate, the client’s need for asset protection.
Squatting is the act of taking over custody and possession of someone else's real estate without permission. It can often be difficult to oust squatters, and in many jurisdictions, if the squatter does things in a certain fashion, they may even be able to take away ownership of the property through a process called adverse possession.
Most lawsuits settle rather than going all the way to judgment. In fact, the vast majority (often estimated around 90%) of all cases will settle before a trial, and a substantial number of those remaining cases will settle before the verdict is returned.
At the first glance, the question itself seems to be a little bit absurd: how can you lose the property? But the reality is often such that absurdity can become true.
Richmond, California has developed a unique solution to the problem with homes that are underwater after the mortgage crisis. It is using the government's authority to take title to property through eminent domain to reduce the underwater mortgage debt in the city.
And You Thought Your Legal Fees Were High...Banks' Legal Fees Top $103 Billion After Housing Bubble Burst
If you have ever complained about your legal fees, or been reluctant to hire an attorney because you did not think you could afford it, just be glad you are not one of the six largest US Banks recovering from the collapse of the housing market and resulting financial crisis. Bloomberg reports that together, they have amassed a whopping $103 billion in legal costs since the beginning of the Great Recession.
In my former legal practice, I found that few cases were more prone to absurd happenings, bizarre government policies, or overly expensive litigation than pet cases.
Leases are tricky things. They are a combination of contract laws, agreements between the parties, and laws and regulations that relate to landlords and tenants, housing standards, zoning, safety, etc. As a result, although a lease agreement may say you have to pay rent always and under every circumstance, there are plenty of times when one of these other laws may intervene.
Building codes establish standards for the construction of buildings and other structures. Virtually every structure in a modern building is subject to at least one, and usually several different building codes.
The single most common cause of construction litigation for non-private, residential projects is delay. Delays may cascade from one contractor or trade to another, causing a domino effect that can lead to a very expensive conclusion. After all, time is money, and delays on commercial projects can mean thousands or even millions in lost revenues to the property owner.
The decision to buy versus rent is only the first hurdle in choosing your home, and placing your signature on a baited rental agreement can harm you financially. Whether you’ve spent days, weeks, or months searching for a new home, the most crucial steps begin right before you sign the contract.
We have all had the situation at some point: a neighbor that cares for nobody but themselves. Stereo blasting late at night, dogs barking or attacking others, construction that causes damage to our property...the list goes on. So what do you do in those instances when reasoning with the neighbor just is not working?
Getting behind on rent and receiving an eviction notice can be a traumatic experience. While every state is different, most share certain characteristics, and it is important to know how evictions work in order to know what you should do.
Eminent domain, or the process by which the government takes property from private owners, can be a confusing process for many. The most common use of eminent domain is to obtain title to property used for roads and other public facilities. But, this is changing. Cases have held that eminent domain can also be used for the purpose of economic development. So how does eminent domain work?
If you live in a homeowners association, condominium, co-op, or other community association, you are probably already familiar with the concept of paying assessments, dues, service fees, or whatever your association may call them. But what happens if you get behind in paying your assessments? Can you stop paying these fees if you think your association is not treating you fairly?
Have you purchased a piece of land only to discover after the sale that there was pollution on the property? Are you thinking of selling a house and wondering how much you need to disclose? Understanding the laws related to environmental disclosures can mean the difference between a costly lawsuit and a smooth transaction.
A construction (or "mechanic’s") lien gives builders, contractors, and suppliers legal recourse to get paid for their work as well as any materials or supplies purchased for a project. This recourse is in the form of a right to interfere with your ability to convey clear title to your real property and/or to foreclose the construction lien to take title to that property.
A housing development for the purposes of portfolio security in an area designated in the building plan as a weekend home area is potentially admissible.
A home is most Americans’ single largest investment. Buying your home can be a very exciting purchase; it is also a major financial commitment that comes with many legal ramifications. Fortunately, sellers and buyers can avoid many common legal pitfalls by taking a few precautionary steps.
We often hear that someone owes us a fiduciary duty, whether in a business setting, certain transactions, or even a condo/co-op or homeowners association. But what is a fiduciary duty, how does a fiduciary relationship arise, and what are its implications?
Mortgage foreclosure is the process by which the bank takes your home for not paying your loan. It can be a long, difficult, and confusing process for many homeowners, and if you are facing a foreclosure you should contact a local, qualified attorney for advice on how to respond. In the meantime, here are 10 common mistakes people make during a mortgage foreclosure:
A short sale allows the lender to avoid the work involved in foreclosing and then trying to sell a property. It allows the homeowner to avoid foreclosure. However, a short sale can also be challenging to all involved.
If a lessee wishes to provisionally suspend the payment of installments, this requires in addition to the cancellation of the purchase agreement the enforcement of the claim for repayment of the purchase price against the supplier.
Brokerage costs which are incurred from the sale of a house may be included as work-related expenses for rental income under certain circumstances.
Architects and structural engineers have a duty to disclose existing risks to the client relating to a construction project, according to the Federal Court of Justice (BGH) in its judgment of June 20, 2013 (Az.: VII ZR 4/12).
Exclusion of warranty may not be effectively valid if the seller of a house has not correctly described any existing defects; therefore, as a result, the seller carries liability in cases of false representation or claims made in bad faith that are involved in the process of the sale.
The classification of a rental space as either residential or commercial conforms to the emphasis given by the lease tenancy agreement.
For the classification of leased premises as residential or commercial tenancies, the focus of the tenancy is decisive.
The classification of a rental space as either a residential or commercial tenancy conforms to the emphasis given by the lease tenancy agreement.
Tenancy Termination Possible, if Landlord Would Like to Use Property for Commercial Purpose - Germany
It is now permissible for a landlord to cancel a lease agreement contract if the landlord wishes to use the leased property for commercial purposes and therefore not for personal use.
Among the well-known commercial risk of today, expropriation seems to stand out as the most prominent. It represents the most dreadful form of measures to investors, which might be taken against foreign direct investment by a host state.
Buying property in Argentina as a foreigner is legally straightforward
The moratorium on alienation of Ukrainian farm land has long prevented meaningful foreign investment into the Ukrainian agricultural sector. To somehow obtain access to agricultural land, instead of outright ownership foreign investors had to register Ukrainian companies that entered into lease agreements with landowners, most with a “right to buy” option if and when the moratorium will be lifted.
Whether real estate is being acquired entirely new in the context of property acquisition or if it was already in the partnership’s possession is an important fact.
It’s time for everyone along the east coast to ready their Hurricane Preparedness Plan, and the law firm of Panter, Panter & Sampedro, P.A. have prepared some tips to help prevent unnecessary injuries and damage to property.
In a recent judgement, the German Federal Court of Justice (BGH) provided a few clarifications with respect to the responsibilities of an architect towards his clients.
As a matter of principle, an architect has to delimit the economic framework for a construction project and consider the budget plans of the client with regards to the basic evaluation.
Real estate investors to soon get shot in the arm if developers fail to deliver. The Real Estate Investor Protection Law, which was highly expected to be issued this year, will now be released during the first quarter of 2013, a senior Dubai Land Department (DLD) official has said.
Being a landlord is not the easiest job in the world. How do you leverage your standing with your tenant? Does the law provide sufficient regulation in this area?
When a house is sold, the seller is potentially unable to invoke a contractual warranty exemption if he fraudulently failed to fully disclose an existing defect.
Nowadays the subject “Copyright” in the case of buildings occupies architects and builders more and more.
A warranty exemption is potentially of no help to the seller of a house who does not fully and correctly describe an existing defect: where there is bad faith, he is nonetheless liable.
There are laws in place to protect investors from unscrupulous brokers at companies looking to take their money and make high commissions with little promise of return; those laws work very well, for the most part, to protect investors from securities fraud or investment fraud. Be that as it may, because of a changing landscape, unscrupulous investment brokers and companies may still sell risky investments to investors with the promise that they are "safe" and "low risk."
Although touted as safe and low risk investments, Ameriprise real estate investment trust funds have been anything but that – even though brokers have insisted to unwitting investors that they are. It's been alleged that Ameriprise Financial recommended these funds to investors, resulting in significant loss to those investors.
By Karbal & Co.
The Libyan Civil Transactions Code of 1953 imposes liabilities on both the contractor and the architect. Article 650 of the Civil Code holds the contractor and the architect (or supervising engineer) jointly liable for any minor or major collapse of the building even if the collapse was due to ground defects and/or the building had been approved and accepted by the owner.
Mold, Radon and other contributing factors to indoor air quality can significantly alter the value of a property and how well it sells. It can even constitute a claim or lawsuit.
An easement is a grant of permission by the owner of land (known as the subservient estate) in favor of the owner of a different parcel of land (known as the dominant estate) to cross over and/or use a portion of the subservient estate.
Legal comments on the possibility for acquiring of land by foreign citizens following expiration of the 5-years period of prohibition
It is always a difficult topic to address when one talks about the death of a spouse: this article aims to clarify some of the issues people living in Italy may have if they find themselves in the situation of inheriting property or assets under the Italian Legal system.
The world of law, tax and real estate continue to become more and more complex. Costs can be a strong deterrent to a person seeking professional advice. Wischmeyer Professional Services Access Plan allows employers to provide valuable resources to their employees at minimal cost and can even benefit themselves. Access to free consultations with an attorney, accountant or real estate agent with discounts if services are needed for professional resources and services.
In January 2013, the California Homeowner Bill of Rights will take effect, providing unparalleled protection for homeowners across the state. This Bill, which is the first of its kind, will reform the foreclosure process and provide unique protection for homeowners.
Will the FED's actions affect you?
I Owe More than My House is Worth and Waiting on the Bank to Threaten Foreclosure --- What Can a Homeowner Do?
The United States is going through one of the worst recessions since the Great Depression. Bankruptcy filings have increased, unemployment is high and home values have decreased exponentially since 2007 highs. Many home owners are finding they have a lot of debt, a house that is not worth what they owe, no ability to refinance and no ability to sell a home because they owe more than it is worth.
Buying and selling real estate in Jamaica is marked by the absence of standardized contract. In fact, the process is attorney driven. What looks to be a simple procedure can be quite intimidating. The time for completion is usually set at 90 days if a mortgage is involved and 60 days if the transfer is a cash deal.
Learn how a federal agency, made to protect homeowners, has now turned on them.
A recent Pennsylvania Superior Court decision may have very well changed the PA Mechanics’ Lien Law dealing with repayment priority, to the benefit of the contractor, when a construction project takes a wrong turn. A mechanic's lien is a security interest that is placed on the title to property for the benefit of those who have supplied labor or materials that improve that property. 49 P.S. § 1101 et seq.
A major development in Hungarian immigration policy affecting ’investor residency’ is anticipated imminently. On 27th October, 2012 the ruling party of Hungary submitted a Bill to Parliament, which would offer permanent Hungarian residency under preferential conditions for non-EU national investors willing to buy at least €250,000 of government bonds. The Bill is currently under consideration and is expected to become law very soon.
If you are considering purchasing an apartment in Malta, among your enquiries you should consider what to look out for as far as condominium issues are concerned. Although this note refers to ‘apartments’, it is worth noting that the Condominium Act uses the term ‘units’ ( or ‘tenements’) and not apartments. A condominium might include a shop or an office.
By Zorlu Law
Formation of the contract under the Vienna Convention on Contracts for the International Sale of Goods 1980 (CISG) in comparison with Turkish Code of Obligations. 1 – General - The United Nations Convention on Contracts for the International Sale of Goods (CISG) was signed in Vienna on 11th April 1980 by the United Nations and entered into force on 1st January 1988.