Closings on Track with Technology Assist

toates Real Estate

We continue to accommodate closings for purchases and refinances. The vendors we work with for lien searches, surveys and title work have been hard at work assisting in getting across the finish line with our closings.

Marriage Penalty Removed for Conveyances Between Spouses

toates Estate Planning, Probate Estates, Real Estate

When you purchase a property prior to marriage you take title as co-tenants (similar to a partnership). The default language for taking title between non-spouses is “John Doe and Jane Doe” or “as co-tenants.” Under Florida Law this assumes each owns fifty percent of the property. This has certain implications for survivorship and devise, especially if the heirs of each of the co-tenants is not the same. There are other ways to hold title between non-married individuals such as “joint tenants” which are outside the scope of this article.

FinCEN GTO Expansion

toates Real Estate

The Financial Crimes Enforcement Network (FinCEN) recently issued an expansion to their Geographic Targeting Orders (GTO) that will temporarily require certain U.S. title insurance companies to identify the natural persons behind companies used to pay all cash for high-end residential real estate in Broward and Palm Beach Counties. This is an expansion of the previous GTO which was limited to …

Due Diligence for that Assignment of Lease

toates Business Law, Real Estate

A portion of our practice includes business transactions and frequently involves buying and selling businesses and other asset sales which include the assignment of a leasehold interest. In fact, for many businesses the leasehold interest (the lease) is one of the most valuable assets being sold. Everyone assumes that if the asset sale involves the conveyance of real property then a title search …