Monthly Archives: July 2015

Three Reasons to Hire a Real Estate Attorney in Staten Island

Not sure whether hiring a real estate attorney in Staten Island NY is worth it? While it might seem like a good idea at first to save costs by bypassing the hiring of a real estate attorney in Staten Island, you’ll be surprised to know that in the long term, the hassle and expenses associated with real estate transactions make the hiring of an attorney one of the best investments and a guaranteed return on your money due to the fact that these transactions can get tricky real quick and you don’t want to run the risk of going into these transactions unprotected.

If you think you might need help from a real estate professional, then you should know the main reason why people hire a real estate attorney is because the process of buying a house is complex, and generally speaking, most people find that the help of a professional can help them get through the buying process more smoothly. Another reason is the fact that real estate attorneys usually have good relationships with the realtors and can advise you on whether or not the particular realtor that you are dealing with can be trusted.

Finally, even though every state has its own set of real estate laws, some people might be more comfortable getting the help of a real estate attorney when it comes to finalizing the contract just to make sure that it is complying with local and state laws. It is not a secret that the process of buying a house can get expensive real quick, but it is better to be protected in case of any discrepancies and the help of a real estate attorney can be extremely valuable.

How Do New York CEMA Transactions Work?

If you have head the term “CEMA” or “CEMA” transactions before, it is possible that you might currently be interested in getting a mortgage loan. New York CEMA transactions basically refer to a law that says that the borrower of a mortgage loan secured by real estate may be exempt from recording tax by using taxes previously paid against the property. New York CEMA transactions are put in place in order to promote savings on taxes but they do have a downside, which is the cost and the length of the process associated with these transactions.

Let’s clear the air first, CEMA stands for Consolidation Extension and Modification Agreement and basically what it is, it is a document that enables consumers to use Section 255 of the New York State Law in order to reduce their mortgage tax in purchasing or refinancing transactions. Generally speaking a CEMA transaction will be used to decrease the cost of the total tax paid on a mortgage for both the borrower and the lender, thus reducing the total amount paid on the mortgage over time. A CEMA transaction can –and will reduce the total amount both parties have to pay on these specific mortgage transactions by combining old and new liens.

If you are currently considering using this document to reduce the total tax paid on your mortgage transaction then the assistance of an experienced and educated attorney can be of extreme value when it comes to securing your CEMA. Guidance along the way and knowledge of the regulations and laws regarding CEMA are a common necessity in these real estate transactions. Remember that a CEMA transaction must be used only in the correct situations and in certain counties, so the valuable advice of an experience firm can help make the difference.

Using a Contract Attorney in Staten Island to Prevent Disputes

Looking for a contract attorney in Staten Island NY? If you are currently in the process of drafting a contract and you are considering hiring a contract attorney in Staten Island, then you might be happy to know that the help of an experienced attorney who can guide you during the drafting process, the negotiation phase and one who can help you modify your contract depending on the needs of either party can really make the difference when it comes to avoiding disputes due to contracts that were not drafted correctly or that are ambiguous.

Remember that if you decide to draft the contract yourself, you are exposing your person and you assets to the interpretation of the law, and since the law can be interpreted in many ways, a contract needs to be bulletproof in order to prevent any unpleasant surprises. Contracts can sometimes be held invalid in court and this is where you’ll want to go back in time to get the help of an experienced contract attorney that can help you satisfy the requirements of good contract that will protect you from any circumstances or factors.

We have to keep in mind that a contract in very broad terms refers to an exchange of legally enforceable promises between two or more parties. And the legal right to enforce this exchange of promises can only be upheld in court if the contract is clearly drafted and complies with the law in terms of liability, triggers, rights and obligations. If you are currently thinking about drafting a contract or sealing a contract with another party, it might be a good idea to hire the services of a contract attorney in order to avoid disputes in the future.

How Often You Visit Your Wills Attorney in Staten Island

Have you recently hired the services of a wills attorney in Staten Island NY? If so, you might be wondering how often to visit him or how common it is for wills attorneys in Staten Island to see his clients. For those of you not in the know, a Wills attorney can help you draft and modify a will; one of the most important legal documents that a person will draft during their lifetime. This document will allow a person determine who will inherit his or her assets upon death and a solid will can save your relatives years and years of legal battles and bitterness over material goods.

If you have already hired a wills attorney and you’ve already drafted a will, you should know there is not a “hard” limit on how much time should pass between visits. If you are ill or of advanced age, it might be a good idea to sit down with your wills attorney once every few months in order to review the current draft and make any modifications as necessary.

However, there are some situations where people think that once their will is done, then that is it. This is far from the truth and in reality; there will be situations where the legal documents need to be changed immediately depending on the current family situation, financial situation and legal climate. When a crisis pops up, having the advice of an experienced attorney can make the difference between struggling and stressing over a dodgy will or having the certainty that your will is bulletproof. We have to remember that legal documents are not a “set it and forget it” matter and they need to be constantly reviewed in order to avoid any unpleasant surprises.