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 …

Ladybird Deed: An Enhanced Life Estate

toates Estate Planning, featured, Real Estate

How can I change title to a piece of real property to affect my estate plan and avoid probate, yet still maintain complete control over it during my lifetime, including the ability to un-do the transfer, and not just the right to occupy for as long as I am alive? Florida recognizes an enhanced life estate, otherwise known as a …

Broward Associations: Acknowledgement and Rejection

toates featured, Landlord Tenant, Real Estate

On September 10, 2013, the Broward County Commission voted to enact an amendment to its Code of Ordinances prohibiting discriminatory practices in real estate transactions. This includes Homeowner Associations and Cooperative Associations who review prospective purchase and lease applicants. The rules require that the association acknowledge receipt of a completed application within ten (10) days of submission. If the application package is incomplete, the acknowledgment letter must include a list of missing or incomplete items. Within forty-five (45) days after receipt of a completed application, the association must reject or approve the application and if rejected, must state the reason(s).

Real Estate Closing Costs

toates Real Estate

Closing costs are those costs associated with your real estate transaction which are in addition to the purchase price and are typically bourne by either the buyer or seller depending on the terms of the purchase agreement or the tradition in the county in which the property is located.