When any property transfers from one owner to another, a deed of transfer must be recorded with the local registry in the appropriate city or county. Generally, when one party purchases property from another party, a warranty deed is written, signed, witnessed and recorded. However, this may not always be necessary.
If you own a business or perform services for someone, you expect to be paid, unless previous arrangements have been made for the donation of your time and materials. In order for your business to continue in a profitable manner, you have to rely on customers to pay their bills on time. However, in many cases, this simply doesn’t happen. When you first start any type of job for a client, you should have a simple contract, which states the cost of materials and labor, and a payment schedule for the job. But, what if the customer decides they are not going to honor that contract and simply don’t give you any money. Even if you do not have formal contract (which is never a good idea), you still have a remedy for payment.
When you own rental property, there are many circumstances and agreements under which you may choose to rent it. However, you should always protect yourself in the event your tenant does not uphold their part of your agreement.
If you are purchasing or selling real estate, a Grant Deed will be a very important part of the transaction. There are several different types of deeds that are used in real estate sales, but Grant Deeds are the most common in California.
Grant Deeds are documents that are used by owners to grant their interests in and rights to the property being sold to the purchaser. A Grant Deed is also used as a guarantee that the title of the real estate hasn’t already been transferred to another person other than the purchaser. It also implies a promise on the part of the seller that the title is not encumbered in any way, such as through a lien, easement or condemnation.
Are you familiar with homestead laws that can help protect you and your loved ones from losing your residence? Many people do not understand how precarious home ownership can be under certain circumstances. Any homeowner may need the protection homestead laws provide, and the best way to ensure you are afforded that protection is through a homestead declaration.
Homestead laws can protect against the loss of your home to creditors. Even if you do not now and never have had credit problems, circumstances that jeopardize your homeownership could arise at any time.
A lease is an essential document that should be used anytime a landlord leases a room, apartment, house or property to a tenant. Leases are the written record both landlords and tenants have to refer to in the event of any questions or disputes.
Leases protect both parties by outlining expectations, responsibilities, rent amounts, and other terms involved in the lease. Both landlords and tenants’ rights and obligations are clearly stated in writing in a lease agreement.
Are you planning on buying or selling real estate soon? The correct deed forms are an essential and important part of any real estate sale. Many individuals involved in personal or private real estate transactions rely on attorneys to prepare the appropriate deed forms, but today buyers and sellers have a much less costly alternative.
When considering to whom you should rent your property, the old Ronald Reagan adage “Trust, but verify” couldn’t be more applicable. You may have a good “gut feeling” about someone, but who among us can claim a 100% success rate with our guts?
What should I, as a Landlord do?
Start with the basics. Make sure to use a thorough rental application that covers the applicant’s credit history, references
Would you enjoy driving downtown and searching for a parking place just to spend two hours in an attorney’s office to talk about distributing your property when you die?
Well according to recent statistics, hardly anyone does. According to the AARP, not very many people make such an effort, or any effort at all towards their estate planning. More than 90% of the Americans have failed to take appropriate steps to protect themselves, their families and their property through proper estate planning.
By law, every landlord of a dwelling, except owner-occupied premises with not more than two rental units, must file with the clerk of the municipality in which the residential property is situated, or with the Bureau of Housing Inspection in the Department of Community Affairs (DCA), a certificate of registration. N.J.S.A. 46:8-28.
The certificate must contain the following information:
(a) The name and address of the record owners. If such owners are a partnership, the name of all general partners. If such owners are a corporation, the name and address of the registered agent and corporate officers;
(b) If the address of any record owner is not located in the county in which the premises is located, the name and address of a person who resides in the county in which the premises are located and is authorized to accept notices from a tenant and to issue receipt therefore and to accept service of process on behalf of the record owner;
(c) The name and address of the managing agent of the premises;
(d) The name and addresses, including the dwelling unit, apartment or room number of the superintendent, janitor, custodian or other individual employed by the record owner to provide regular maintenance service;
(e) The name, address and telephone number of an individual representative of the record owner or managing agent who may be reached or contacted at any time in the event of an emergency; and
(f) The name and address of every holder of a recorded mortgage on the premises.
In addition to the filing of the registration statement, landlords are required to provide each tenant with a copy of the registration certificate. This should be done when the tenant moves in. It behooves the landlord to have the tenant sign and date a copy “received”, which should be made a permanent part of the tenant’s file.
In court, a judgment for possession cannot be entered if the landlord has not complied with this registration requirement. Non-receipt of the statement is almost a standard defense by tenants who are represented by competent counsel to avoid an immediate judgment of possession. The court has the authority to stay the proceedings for 90 days to allow the landlord to come into compliance. If the landlord has not come into compliance within this 90 day period, the landlord’s action for possession will be dismissed.
About the Authour: Bruce E. Gudin, Esq. is a Partner with the firm of Levy, Ehrlich & Petriello, P.C. headquartered in Newark, New Jersey. He can be reached at (973) 643-0040, ext. 104 or by e-mail at Bruce@LEP-lawyers.com.