Archive

Title Services and Closings – Lulich & Attorneys Once parties reach an agreement on purchasing a property, there are a few steps left before the transaction is final. First, there is the inspection. This ensures the property is in good shape. Then, both parties iron out the final details like whether the property has a clean title. This is perhaps one of the […]

What is a Florida Quiet Title Action? – Lulich & Attorneys What is a Florida Quiet Title Action? A quiet title action is a formal court procedure for determining whether any open claims to title to real property are valid. Anyone who buys a home or real property for a business wants to be sure they completely own the property – subject only to limited rights […]

Tax Deeds and Quiet Title Actions – Lulich & Attorneys Tax Deeds and Quiet Title Actions (QTAs) Title to property in Florida can be held in the following ways: Sole ownership. You can own the property in your name alone. Joint owners. Spouses can own property as “tenants by the entirety.” Two or more people can own real property as “joint tenants with right of […]

Pros and Cons of Digital Closings – Lulich & Attorneys Digital documentation makes many parts of life easier. Most Internet users use technology to pay bills online and get electronic receipts. Many workers are paid electronically. The Social Security Administration has been paying recipients online for years. And now… the evolution of digital closings. Now, the real estate industry is beginning to benefit from digital […]

How a Real Estate Power of Attorney Can Be Used in a Real Estate Transaction? – Lulich & Attorneys A real estate power of attorney (POA) is a legal document.  A POA gives one person the authority to act on behalf of another person – in some personal, legal, or business matters. A power of attorney should be in writing. The person who gives the other person the authority to act is the principal. […]

What Is a 1031 Exchange and How Should It Be Handled? – Lulich & Attorneys The number “1031” refers to Section 1031 of the U.S. Internal Revenue Code. A 1031 exchange is a strategy, according to Realty Mogul, used by real estate investors to defer capital gains income taxes (or income tax losses). Normally sellers of homes, buildings, and land must pay capital gains taxes at the time they sell […]

Title Insurance for a Quitclaim Deed? – Lulich & Attorneys Title insurance is a way of protecting the real estate you buy or own from claims of creditors, prior owners, and third-parties against your real estate. A quitclaim deed is a way of transferring an interest in real property that essentially says the seller isn’t sure what rights he/she has – but whatever interest the […]

Title Insurance for a Manufactured Mobile Home? – Lulich & Attorneys Buyers of single homes, duplexes, townhouses, condominiums, and other permanent structures should purchase title insurance. Title insurance is to protect homeowners from claims to ownership or use. Claims include assertions by prior owners, third-parties, creditors, and others that they have an interest in the property. Buyers want their real property to be free and clear […]

Real Estate Settlement Problems – Lulich & Attorneys Both the buyer and seller want the closing to go smoothly. The buyer wants the keys to the house, wants a quality house, wants a house with a clear title, and wants enough cashback to be able to focus on enjoying the home. The seller wants to maximize the amount he/she gets for selling the […]