When a real estate contract fails to close, disputes over the binder deposit may arise. In such cases, an escrow agent can initiate an interpleader action, seeking court intervention to determine who is entitled to the funds, while recovering their attorneys’ fees and costs. Understanding this process is crucial for all parties involved in failed real estate purchases.
Uncover the complexities of failed real estate transactions and disputes over binder deposits. Learn who gets the deposit, mediation requirements, and the role of interpleader actions.
Imagine making a loan to a business for its use as start-up capital. Loan documents are drafted, and to secure payment, you retain an option to purchase equity in the company. If the company doesn’t pay on time, you may have the option to take control of the company. The […]
In the modern age of intentional, targeted fraudulent activity, homeowners may find themselves subject to an increasingly popular form of cybercrime: home title fraud. Home title fraud is perpetuated through identity theft and property fraud, allowing criminals to use stolen titles to carry out other types of fraud. This blog […]
When the deal is done and the parties shake hands, people are mostly optimistic that the other party will perform as agreed. It’s typically only when something goes wrong, that’s when the parties will look to the terms of the written agreement to determine who is liable. It happens more […]
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The lease agreement is a legally binding contract that lays out the rights and responsibilities of the landlord and the tenant. Property investors who own property and use it for long term rentals should all have an airtight lease agreement to use with each new tenant that rents the property. […]
People who inherit real property from their deceased loved ones often do not understand the process of how to move forward to legally sell the property. The process can be confusing, particularly when dealing with non-homestead property, and what steps need to be taken depends on how the property was […]
Land use and zoning lawyers commonly with real estate investors, developers, and homebuyers who purchase real estate looking to either add on to the existing structural improvements on the property or redesign the use of the property, tear down the existing structure, and build brand new. It is natural to […]
Often times, new and/or inexperienced real estate investors will purchase a piece of real estate with the thought that the property can be easily rezoned to accomplish whatever new development the investor desires. Unfortunately, people come to the quick understanding that securing a successful property rezoning is anything but a […]