Frequently Asked Questions

1. Negotiating the Purchase of Commercial Real Estate?


Business considerations often center upon the use and potential profitability of a particular property. Legal considerations deal with possible issues of liability, title issues, environmental factors and other issues that may create legal problems for the purchaser. Due diligence is particularly important to avoid these potential problems.

2. What is the difference between legal separation and divorce?

 

Both a legal separation and divorce can resolve legal issues, such as how to divide property, determining who can continue to live in the marital home, parenting time allocation and child support. In a legal separation, the parties must agree about how to divide their assets and liabilities while they do not have to be in a divorce. The court order for divorce or legal separation is an enforceable court order. However, a divorce permanently ends a marriage while a legal separation does not. Spouses who are legally separated cannot marry someone else while former spouses who are divorced can. Getting a legal separation does not prevent either spouse from later filing for divorce.

3. How do courts determine who gets custody of children in a divorce?

 

Courts make determinations about custody issues based on what is in the best interest of the child. Courts also look at the mental health and stability of each parent, the living situation of each parent, each parent’s ability to care for the child, and the relationship the child has with each parent. In some cases, the desires of the child are also considered. The goal of the court is to keep the child’s life as consistent as possible post-divorce.

4. If one parent moves out and leaves the kids with the other parent, does it hurt the moving parent’s chances of getting custody at a later date?

 

It can. Parents that move out before a custody arrangement is finalized run the risk of the other parent deciding the custody arrangement. This is because the parent that remains behind makes determinations about the child’s time. If it is necessary to leave the marital home and leave your child behind, it is important to know your rights and have a plan in place. If possible, have an attorney help you create a plan before leaving.

5. Why Do I Need Title Insurance?

 

Title insurance protects a buyer’s investment in a property if any right to ownership is challenged. Because the majority of homeowners require mortgages to purchase homes, lending title insurance is often required by the bank to protect its investment. A number of issues can affect the title of a home, including fraud or forged documents or false representation of ownership of a property.

 

Most of the events that arise and cause problems with a property’s title typically happen before you purchased the property, but a good title insurance policy provides coverage for the consequences of those events. It is possible your ownership of the property can be affected if there is a problem with the title.

6. Why Do I Need A Real Estate Attorney?

 

Some states require attorneys be involved in the selling and purchasing of real estate. However, even if one is not required, it is a good idea to work with an attorney during a real estate transaction because transactions can be fraught with unexpected occurrences.

 

For instance, there can be contractual issues that need the oversight ofa legal professional. If you and your agent are concerned about a specific issue, it is best to work with a real estate attorney. For example, there may be a tenant on your new property or you might be considering renting some or all of the property during a certain time period. Some properties have tax liens imposed on them and you do not know what the implications might be. The bottom line? Real estate attorneys offer invaluable help.

 

 

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