“I want to add my son to my deed.” NO!
Several times a week, people call the office to ask how they can add their child to their deed. I’ll usually ask “why do you want to do that?” And they will respond, “well, so when I’m gone, the property will transfer automatically.” That’s a really bad idea. When a parent puts their child on […]
“I am not buying a house filled with poisonous gas!”
Take it easy. One of the things that a home inspector will look for is the excessive presence of radon, a radioactive gas that you can’t see and can’t smell, but may be very dangerous in excess concentrations. In fact, at very high levels, radon may cause lung cancer. Radon is released from the breakdown […]
“My roof is at the end of it’s useful life!? What the heck does that mean!?”
Not much, but let’s see how we got here. Following the end of attorney review, a buyer will schedule a physical inspection of the house. A professional home inspector, paid by the buyer, will check everything from the base of the foundation to the tip of the chimney, additionally looking for wood-destroying insects, mold, asbestos […]
“But I want this house and I didn’t want to cancel! Why did my attorney issue a notice of disapproval?!”
Stay calm. Part of your attorney’s job is to insure that a real estate contract provides you with the most protection possible. The printed forms used by Realtors tend to be somewhat generic, and for this reason, attorneys take this opportunity to suggest changes that would give you more protection than the printed forms provide. […]
“You want me to sign a contract to buy a house before my lawyer reads it? That’s crazy!”
But that’s how we roll here in New Jersey. In 1995, the New Jersey Supreme Court decided In Re Opinion 26 , settling a long dispute between the New Jersey Bar Association and the New Jersey Association of Realtors. You see, some Realtors regularly drafted contracts for real estate transactions, as is common practice in […]
Have You Updated Your Will?
It’s not something people like to think about. But insuring that your will is properly updated can save your family a good deal of heartache. Now, honestly, not everyone needs a will, and there is a huge misconception that without a will, the government will take your assets. In fact, the State of New Jersey […]
Home Warranties
Protect yourself – whether you are selling or not. A few years ago, the buzz phrase “at the end of its useful life” started showing up in just about every home inspection report. “This furnace is the oldest furnace I’ve ever seen. It’s structurally sound, it’s not leaking, but it could fail at any time […]
Small Business Pitfalls
Clients starting small businesses are usually encouraged to operate as a formal entity, either as a corporation or a limited liability company. And while most people understand that the purpose of incorporation is to protect the owners from individual liability, there are circumstances where that protection can be bypassed- and the owners find themselves personally […]
Selling Real Property as an Executor
As the Executor or Administrator of an Estate, part of your duties is to liquidate any real estate owned by the decedent. While the process is similar to other sale transactions, there are extra steps- and extra pitfalls- that the estate administrator must consider. When listing the house with a realtor, try to get more […]
Important for Parents of Adult Children
Over the holidays, I received a phone call from a close friend. His son, already on psychological medication, had ingested a good deal of illicit street drugs, suffered a psychotic break, and landed in the emergency room, facing the prospect of being committed to an institution. Like any parent, my friend had a litany of […]
