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Land Trusts as a Due-on-Sale Workaround? STILL a No from Me. Let’s Talk Lease Options Instead.

  By Hope Richards, the anti-attorney attorney Richards Law, PA Hope@RichardsLawPA.com Let’s revisit an oldie but a goodie and I wrote about way back in 2016 - the myth that putting property into a land trust magically keeps lenders from noticing that you sold a house without paying them their money back. Spoiler: it doesn’t. Not then, not now, not even with a fancy Latin phrase like inter vivos in your back pocket. If you missed my first blog on this topic, here’s the Cliff’s Notes version: Transferring property into a land trust does not make you invisible to the bank. The Garn–St. Germain Act has a narrow exception that gets twisted more than a soap opera plot. You’d need the borrower to still live in the property and remain a beneficiary. Show me a Subject-To investor that’s keeping the seller as both owner and roommate, and I’ll show you an HGTV episode I’d actually watch. Now, here’s where the sleight of hand gets dangerous: it’s not just the strategy that’s flawed— it...
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Can a Short Sale Save You From Foreclosure? Yes, But…

 Short sales are often seen as the lesser of two evils when compared to foreclosure—and for many struggling homeowners, that’s true. A properly executed short sale can help you avoid the hit to your credit and dignity that comes with a foreclosure, while also giving you more control over the process. But it’s not a magic fix—and it’s not for everyone. One of the biggest legal pitfalls in short sales is the timing. Many homeowners wait too long to act, assuming the lender won’t approve the sale or thinking foreclosure isn’t imminent. But once a foreclosure lawsuit is filed, the clock starts ticking fast. You need someone who understands the procedural deadlines and can jump into action. Even better? You need someone before that lawsuit ever hits your doorstep. We work with clients to explore all their options, including loan modifications, bankruptcy protection, and strategic negotiation with lenders. If a short sale makes the most sense, we manage the legal complexities so you do...
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Short Sales, Long Game: How to Protect Yourself Legally

       When homeowners are underwater on their mortgage and out of options, a short sale can feel like the emergency exit door. But just because the bank agrees to take less than what's owed doesn’t mean it’s smooth sailing. From potential deficiency judgments to credit consequences and tax surprises, there’s more to it than signing away the deed. As real estate attorneys, we help you navigate the fine print, negotiate with lenders, and make sure your “short” sale doesn’t come with long-term regret.      Short sales are complex negotiations that involve your mortgage lender, a potential buyer, and often a whole cast of supporting characters like junior lienholders, HOAs, or judgment creditors. If just one of them doesn’t approve the deal, the whole thing can fall apart. We step in early to identify these roadblocks and help resolve them—before you get too far down the road. Our goal is to make the process as clean and favorable for you as possible. ...
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Tips and Tricks to Find an Investor Friendly Title Company

  There are a lot of things to consider when deciding which title company is the best fit for you and your book of b usiness. Interestingly, the part where they issue you a title policy and who the underwriter is under which they are writing it (the actual product you are purchasing ) is usually at the bottom of list. So, what ARE the top things clients ask (or should be asking) when deciding on an investor friendly title company? Below is a list of questions I have been asked and some that I think should be ask ed more often when vetting investor-friendly title companies.   What percentage of their book of business is made up of investor deals? Look for one that has about 70% of the book as investor deals.   The strategy and mindset used by a title closer working a retail deal versus an investment deal are totally different . One is very personal and emotionally driven; the other is fast-paced and based on numbers. It’s beneficial to work with a title company w...
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Example of how House Bill 631 will help Buy and Hold Investors

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 ...
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Reconsider Your Florida Single Member LLC

A Florida single-member LLC is formed just like a multi-member LLC. You file the Articles of Organization with the Division of Corporations and pay the appropriate fee. Obviously, the major difference with a single-member LLC is that there is only one member. But this distinction has created a serious consequence for Florida business owners. The primary protection offered by the LLC entity structure is that it provides  limited liability  protection for members. In other words, the entity shields members from creditors in various ways. For example, if a member of a Florida LLC is sued and a creditor seeks payment for debts, the assets of the LLC cannot be seized in order to pay for the debt because these assets also belong, at least in part, to other members. As well, should the LLC itself be sued, a creditor cannot seize the personal assets of LLC members as a means of paying th...
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What does the new HOA Estoppel Law Say?

Florida House Bill 483 passed and goes in to effect Saturday. This bill is a win for the real estate consumer in that it makes the delivery of estoppel certificates a more uniform practice. The highlights you should  know are as follows: 1. It caps fees that can be charged for the preparation and delivery of an estoppel: a) $250 for unit owners who are current b) Additional $100 for "expedited" estoppel requests c) Additional $150 can be charged for owners who are delinquent 2. Requires that the estoppel require certain information 3. Estoppel certificate is to be issued within 10 days of written request of owner or owner representative 4. If the closing does not occur and a proper request is made the fee for the estoppel is to be refunded. As always, if you're just a glutton for punishment, the full bill as provided by the FLTA can be found by clicking  HERE . 
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