Blog Archives

New Rules for Residential Real Estate Transactions

Starting October 3, 2015, the TILA-RESPA Integrated Disclosure rule (“TRID”), a new set of rules promulgated by the Consumer Financial Protection Bureau (“CFPB”), will go into effect. TRID will drastically change the way that most residential real estate transactions are handled by lenders and closing agents throughout the United States.

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Posted in Real Estate Law
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Landlord and Tenant Responsibilities under Leases

Some of the most common questions received by our firm relate to landlord and tenant responsibilities in connection with the maintenance and repair of residential rental property. Although the lease governing the relationship between each landlord and tenant must be reviewed and analyzed in order to make a final determination as to each party’s responsibilities,

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Posted in Real Estate Law
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Seller's Disclosures in Sales of Florida Residential Property

Most residential real estate transactions are governed by the “As Is” Residential Contract for Sale and Purchase, a form contract which has been approved by both the Florida Bar and the Florida Realtors association. This contract is typically referred to as the “FARBAR” contract by both attorneys and realtors.

 

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Dodd-Frank Law Implements New Rules and Penalties for Seller Financing

Earlier this year, the Dodd-Frank Wall Street Reform and Consumer Protection Act (“Dodd-Frank”) implemented new rules and penalties relating to seller-financed real estate sales transactions as well as other private loans made on residential properties. These rules are part of Dodd-Frank’s general mission to “promote financial stability” and “protect consumers” in the United States.

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Superior Liens Survive Foreclosure Sales

In the last few years, a number of real estate investors have flooded the Tampa Bay market in attempts to take advantage of a slowly improving real estate market. Although some of the major players in local real estate investments are groups of foreign investors, investing through large corporate investor groups,

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Posted in Real Estate Law
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Homeowners’ Associations: Four Common Myths

While most homeowners understand the importance and the role played by the homeowners’ association governing their neighborhood, many don’t understand the seriousness of the obligation to timely pay all assessments due to the association. These are some of the most common misconceptions:

Myth No. 1: The association can’t foreclose on my property

A homeowner’s failure to make timely payments of his association assessments will likely result in the association placing a lien on the homeowner’s property.

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Posted in Real Estate Law
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Mortgage Forgiveness Debt Relief Act Expires

Unfortunately for many homeowners in Florida who own property with mortgage balances larger than the property’s value, the Mortgage Forgiveness Debt Relief Act (the “Act”) expired on December 31, 2013. The Act once created an exemption from taxation for discharge of indebtedness income when it related to the sale of a qualified principal residence.

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Homestead 3 Ways – Part 3: Devise and Descent

Homestead is found in 3 different contexts under the Florida Constitution: (i) taxation in Article VII, Section 6; (ii) creditor protection in Article X, Section 4(a) and (b); and (iii) devise and descent in Article X, Section 4(c).  This post follows my post on taxation and my post on creditor protection,

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Posted in Estate Planning Law, Real Estate Law


Due-on-Sale Clauses in Mortgages

When purchasing a home together with a spouse, business partner, friend, or other family member, a common decision that must be made at the time of purchase is which individuals or entities will hold legal title to the property. Generally, the person or persons borrowing the funds to purchase the property ends up with legal title to the property.

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Making Home Affordable Program Extended Through 2015

The government program Making Home Affordable, which has assisted over one million U.S. homeowners, was originally scheduled to lapse at the end of 2013. However, the U.S. Treasury announced on May 30 that it is extending the program for two more years.   Accordingly, the program is now scheduled to continue until at least December 31,

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Posted in Real Estate Law
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