Author: Benjamin Boyhan
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Fake sellers in real estate closings
A client of mine owned a rental property in Florida while he lived outside the U.S. He had a property manager handle everything related to the property. Unbeknownst to him, his property manager was approached by a fraudster who was impersonating him. The fraudster created an email address very similar to my client’s email address…
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How do you change your Florida revocable living trust?
To change your revocable living trust, first review the trust to see if there is a provision in the trust that pertains to amending/modifying the trust. If there is such a provision, then follow the steps outlined in the trust. If there are no instructions in the trust pertaining to amending the trust, then Florida…
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How do you revoke a Florida living revocable trust?
A revocable living trust is a trust where the settlor (the creator of the trust) has control over the assets in the trust during the settlor’s life. The trust is considered revocable because the trust can be changed or revoked at any time by the Settlor during the Settlor’s life. Florida law does not provide…
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Can a Florida irrevocable trust be amended?
Unlike a revocable trust, in Florida, an irrevocable trust cannot be amended by the settlor (the creator) of the trust. Irrevocable trusts tend to be difficult to amend. They can only be amended in limited ways, such as the following:
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Who should be the trustee of your living revocable trust?
Setting up a revocable living trust will require you to name a trustee. The trustee can be the creator of the trust (aka the settlor, trustor, or grantor) or the settlor can name someone else trustee. A beneficiary of the trust can be the trustee of the trust – this is very common with family…
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How do you transfer Florida real estate to your revocable living trust?
A revocable living trust is a trust where the settlor has control over the assets in the trust during the settlor’s life. Once the settlor passes away, the trust becomes irrevocable and assets in the trust pass to the settlor’s beneficiaries named in the trust without the need for probate. The trust can be changed…
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Is your Florida real estate contract valid if it was not properly signed?
It is not uncommon to see a Florida real estate contract that is not properly signed. For instance, I often see a limited liability company or corporation signing on behalf of itself, rather than an individual member or officer of the entity signing on its behalf (e.g., ABC, LLC’s signature is signed “ABC, LLC” rather…
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What should you do if the title company records your deed with a mistake?
You finally close on the purchase of your dream home. A few weeks later, the title company sends the original deed and a recorded copy to you by mail. You immediately notice that your name is spelled incorrectly. What should you do? A simple mistake in a deed, like spelling errors, is not as big…
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Does a Florida real estate seller need to disclose loud noises from trains, cars, planes, etc. to a buyer?
Florida law requires sellers to disclose known material defects that are not readily observable to the buyer and that negatively impact the value of the property. Such defects should be disclosed to prospective buyers. Examples of things sellers need to disclose are termites, wood rot, and water damage. But what about loud noises? What if…
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How do you transfer shares of a corporation?
When forming a corporation, the corporation’s shares are distributed amongst its shareholders. Those shares are usually transferable unless the Articles of Incorporation, Shareholder Agreement, or Bylaws of the corporation place restrictions on the transfer of shares. The following are basic steps that can assist with transferring the shares of a corporation: Be aware that there…