So … you are purchasing a home or other piece of residential real estate in Florida, and you have been told that the property you are purchasing is subject to a homeowners’ or condominium owners’ association. What does that mean for you and your soon-to-be home or investment property? In Florida, it is becoming more […]
Widerman Malek Law Blog
Homeowners’ and Condominium Owners’ Associations: An Introduction
Imagine this scenario: there is a certain corporation with 400 business units. Each business unit generates $500 per month in income. So, that is a $2.4-million-per-year corporation ($500 x 400 units x 12 months). Now consider that this corporation is run by a board of directors that rotates every year and is elected by the […]
A Comprehensive Guide to Navigating Seller’s Disclosure Issues
In real estate transactions, seller’s disclosures play a pivotal role in ensuring transparency and fairness between buyers and sellers. These documents serve as a vital source of information, detailing the condition of the property and any potential issues that might affect property value. However, understanding the necessary seller’s disclosures can be complicated, and both sellers […]
Understanding Specific Performance of a Real Estate Contract in Florida
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 […]
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 […]
