Can I Terminate a Lease?
Video Summary
Can I terminate a lease? No, you can’t terminate a lease by yourself. It would take the consent of both the landlord and the tenant to agree to terminate it. The only other provision to be able to terminate a lease is if either the landlord, if you’re the tenant, has breached the lease and you wish to terminate it because of his or her breach of the lease. And on the other side of it is that if you can terminate the lease if the tenant has breached the lease many times, that’s as a result of non-payment and you can sue for your damages or whatever, but that would terminate the lease. So, you cannot unilaterally or on your own just turn around and terminate the lease. You have to look at the provisions. I would suggest if that’s an option you would like, particularly with an apartment complex or whatever, or anytime you’re rent residential property or even for that matter, commercial property, you might negotiate the time you prepare the lease. A buyout provision, I’ve seen it. Usually they say that you, once you give notice of the buyout, you have to pay two months of the rent to be, to buy your way out of the lease. Or you can negotiate whatever dollar amount it would be necessary to be able to be released from law lease. If you have any questions, give me a call at (727) 847-2288.
- Published in Real Estate, Videos
What Is An Unofficial Will Called?
Video Summary
What is an unofficial Will called? I call it a annuity, and that it doesn’t accomplish anything or will in order to be effective. It must be signed in the presence of two witnesses. All the parties have to see each other or have to be in each other’s presence, and the witnesses must sign the Will and the presence of the person making the Will and the person making the Will has to sign the presence of the other two witnesses. So, whatever is met by unofficial Will, it doesn’t count unless it’s executed with those formalities and is not effective in order to pass the assets of the decedent to the beneficiaries. Under the unofficial Will, I’m really not familiar with the term, but if it’s any, if the Will isn’t executed with the formalities that I’ve outlined, then it is a null. If you have any questions, give me a call at (727) 847-2288.
My Parents Just Passed Away And They Did Not Have Time To Update Their Life Insurance Beneficiaries, What Can I Do?
Video Summary
My parents just passed away and they did not have time to update their life Insurance beneficiaries, what can I do? There’s nothing that you can do because the, whoever they designated as the beneficiaries have the rights under the contract to receive the death benefit. So it’s something that they would’ve had to do during their lifetime rather than anything you can do after their death. If you could, if the beneficiaries are agreeable, do an assignment of those benefits to you. Many times the funeral home will take an assignment of a death benefit of a life insurance policy, particularly a small one to pay for the funeral expenses, but there’s nothing you can do by yourself to change the beneficiaries. If you have any questions, give me a call at (727) 847-2288.
- Published in Estate Planning, Videos
Should You Purchase Insurance on Vacant Land?
Video Summary
Should you purchase insurance on vacant property? Most parties do not, purchase liability insurance for vacant property and they don’t have any liability for people, trespassing and going or using the property unless they’re leasing it out or somehow the property has some dangerous aspect to it. Or it could be an attractive nuisance such as, water, like a sinkhole or something like that. And so most people do not. However, if you choose to get it, it depends a lot on the character of the vacant property, if it’s simply a residential lot, then you probably don’t need to worry about it. Or if you do want to get liability insurance, you can simply ask if your, your insurance agent ensures your home, whether or not you could have that covered on the liability aspect of it .If you have other property that’s out and, or there’s some particular aspect of it that you’re concerned about, simply, you know, people using these MTVs are on all over it. If you have it fenced or whatever, if there’s something inherently dangerous about the property, then you may wish to go ahead and obtain liability insurance on the property so that if anyone is injured and they do decide to come after you because there was, there’s something dangerous about the property that you didn’t address, then you would be protected. I suggest you talk to your insurance agent about it, if you are concerned, call me at (727) 847-2288.
- Published in Estate Planning, Real Estate, Videos
If The Decedents Will Names Me As The Executor/Personal Representative, Can I Show The Will To The Bank And Close The Accounts, In The Decedents Name?
Video Summary
If the decedent’s Will names me as the executor, can I show the Will to the bank and close the accounts that are in the decedent’s name? The answer is no. A Will designates or nominates someone as the executor or personal representative. It’s simply a nomination or designation. In order to become the personal representative and have authority to act and behalf of the decedent to collect his bank accounts, you must file a probate proceeding, which would require the petition to have the Will admitted to probate, and then the person, the nominated personal representative, file an oath and many times a bond, and after which the court would then issue what they call letters of administration. The letters of administration are the authority of the executor to act in the decedent’s behalf to collect these assets, so the letters are required in order to collect the money, place them into a, an account for the estate, and then the bills of the decedent are paid from that account. If you have any questions, give me a call at (727) 847-2288.
- Published in Estate Planning, Videos, Wills