Buying a new home is an exciting -- and sometimes overwhelming -- event. For many people, it is the most significant transaction of their lives. In all the excitement, it can be easy to make some missteps or fail to see some red flags that could jeopardize your home and your rights as a homeowner.
Many people are aware that, in 2013, the Florida legislature shortened the period within which a lender must start a suit for the mortgage deficiency from five years to one year. What is a 'mortgage deficiency?' This is essentially defined as the amount a court determines is the difference between the value of the real property at the time it is sold and conveyed by the Clerk after the entry of foreclosure judgment and the total amount owed on the mortgage at that time.
Commercial leasing in Florida - Are you a landlord or tenant of a business lease? Municipal governments across Florida just scored a touchdown, but state legislators dropped the ball big time. Recent legislation hurts, rather than helps, Florida businesses -- especially start-up enterprises and small businesses paying commercial rents.
Commercial Leasing in Florida:
Florida Homestead is a far reaching protective shield enshrined in the Florida Constitution and implemented in various state laws. It's also given preferred status by Florida courts. When do you need a Florida litigator to stop a creditor levy? When do you need to bring a court action to challenge penalties sought by a county tax collector? When do you need a probate action to a carve a homestead property out of a will? When can you challenge a conveyance (deed or mortgage) given by a spouse? When can you contest a devise in a will where the decedent left a spouse and/or minor children?
Florida commercial leases trip up many a landlord and many a business tenant. Here's an important point regarding one of many stark differences between a residential and a commercial lease: Commercial lease tenants are accorded fewer consumer protections if things go wrong down the road.
Real Estate Litigation -- nobody wants to be there but sometimes it's the only answer. Large-scale real estate transactions in Florida can go sour for any number of reasons, ranging from allegations that a party has failed to perform to claims of fraud, breach of contract, survey and title problems, the list is endless.
FORECLOSURE OF REVERSE MORTGAGES. Some lenders impose rules that are not fully explained to elderly borrowers. This problem is compounded as people age in place and become less likely to carefully read all the mail they receive. Sometime that mail requires prompt response or dire consequences can flow. Some borrowers have found a few lenders' attitude is: You live in your house until, well, we contend that you don't live in your house.
Real Estate Litigation often arises from disputes over forfeiture or recovery of deposits under real estate Purchase and Sale Agreements.
Florida HOMESTEAD is frequently misunderstood and under-utilized by many Florida citizens, perhaps because people come from states which have nothing similar. There are three separate aspects to FL homestead: