Author: Benjamin Boyhan
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Disclosure obligations of sellers in the Florida “AS IS” Residential Contract For Sale and Purchase
The “AS IS” Residential Contract For Sale and Purchase (the “Contract”) is the most common contract used in the state of Florida for residential real estate transactions. It was developed over many years by a joint committee of the Florida Realtors (formerly the Florida Association of Realtors) and the Florida Bar. The Contract does not…
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Why is a municipal lien search important in a Florida real estate closing?
In Florida, a municipal lien search is a standard search that is ordered by the closing agent in virtually every real estate transaction. Lien search is a bit of a misnomer because the lien search searches for more than just liens. Lien searches search for municipal liens, permit issues, code enforcement violations, outstanding city special…
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What is the standard Florida real estate contract used where you live?
There are standard residential real estate contracts used throughout the state of Florida. Which contract you use will largely depend on the county where the property is located. The standard contract forms used throughout the state along with the counties where they are used are as follows: Standard Residential Contract For Sale And Purchase and…
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Are There Benefits to Forming an LLC in Delaware?
When forming an LLC, the general rule is to form your LLC in the state where you will be doing business. A few reasons are because if you are doing business in one state, but you form your entity in another state, then your company’s structure will be more complicated, it will be more expensive…
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Should you form your LLC in another state?
Whether you should form your LLC in another state other than your home state depends on the reasons you are forming an LLC and type of business you are running. The benefits of forming an LLC outside of your home state are often overhyped and may not even apply to you. Some of the good…
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Can a judgment against you affect your family’s real property?
A judgment lien can prevent you from selling your real property and may require you to pay off the judgment lien before or at the time of closing. But can a judgment lien against you affect your family’s real property? If you are not on the deed, then your judgment lien will not impact your…
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Can a creditor force the sale of your homestead?
Whether a creditor can force the sale of your homestead depends on the type of debt. Most creditors cannot even lien homestead property. There are only four exceptions where a creditor can place a lien against your Florida homestead and force its sale: If the creditor does not meet any of the above exceptions, then…
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Are the proceeds from the sale of your Florida homestead protected?
Florida homestead protects your real property from certain creditors. Creditors cannot force you to sell your homestead property to pay off your debts, but what happens to the proceeds after you sell your homestead? Are the proceeds protected from creditors? Proceeds from the sale of your homestead property can be protected from creditors if you…
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The best tax benefit to homesteading real estate in Florida
It is no secret that Florida offers some of the best homestead benefits in the U.S. Homestead is one of the many reasons many people choose to retire in Florida. Most people have heard that Florida’s homestead law offers a tax exemption and creditor protection. However, many have never heard of Save Our Homes (“SOH”),…
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What are ad valorem and non-ad valorem property taxes?
Your property tax bill will always have ad valorem tax assessments, but sometimes, your tax bill will also include non-ad valorem tax assessments. What exactly are ad valorem and non-ad valorem taxes? Ad valorem property tax is a tax based on the assessed value of a property. It is your standard property tax. Ad valorem…