Discussion of topics by real estate attorney that covers topics from both personal deals and those that come up for my clients.
Real Estate LIVE! Radio 1340 AM
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I was recently invited by the host of Real Estate Live! with Michele the "Queen of Real Estate Radio" to discuss a few topics of interest to investors. Video of the show is posted to YouTube. Check it out!
I firmly believe Land Trusts are one of the most misunderstood real estate investment tools nationwide. My plan it to make this a series of posts that will touch on what a land trust is and what it is not, clear up myths and misconceptions and pass along some tips and tricks. It will be basic, but if you understand the basics you can then start to get really specific and use them to cater to your particular investment portfolio. I haven’t decided how many parts will be in the series so my plan is to just take one topic at a time and see where it leads. First, my back ground with these creatures: If I had to pick something that was “my thing” it would probably be Land Trusts. Never would I have imagined when I graduated law school this would be the case, but about 6 years ago Debbie Farnell of Southeast Professional Title handed me Mark Warda’s book on the subject and my gears have been turning ever since. In those 6 years or so I have drafted hundreds of land tru...
The Florida Legislature Strengthens Laws to Remove Unwanted Parties from Your Property The governor signed House Bill 631 into law on March 8, 2018, to update Florida law on ejectment, unlawful detainer, and customary use. So what does this mean? First, let’s suppose the company owning the building next to yours puts up a fence ten feet over your property line, claiming to have a recorded deed to a strip of your land. You think the deed is bogus. To get rid of the fence you would likely file an “ejectment” action. “Ejectment” is a kind of eviction action in which the party in possession claims a right to be there under a written instrument in its chain of title (usually a deed, easement, or other serious title instrument). An ejectment action gives you the chance to prove your superior title to the property (after which you would eject the neighbor’s fence). Case closed. The amendments to the Bill modernize the statute to ...
Ya’ll know me, I like to get straight to the point and answer the question. Those of you wishing for a little more detail can read the entire article for my mundane analysis as to the why. Warning: The “why” for this particular post is especially boring. Question: Does placing a property in a land trust prevent a lender from calling a loan due under the due on sale clause per Garn-St. Germain? Answer: No, the use of a land trust (as used by real estate investors) will not prevent a lender from calling a loan due when there is a change in title via a land trust. The key to this answer is the part where I said, “as used by real estate investors”. Investors like the idea of purchasing property “subject to” the loan due to the deal structure requiring little to no money down, no big down payment, no loan qualification, no financing costs, etc. I get it. The problem with this investment strategy is that once title is transferred without the loan being paid off ...
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