How Can I Force a Co-Owner to Sell?
Video Summary
Well, the answer to that is, try and negotiate it and work it all out. However, if all else fails, you’re going to have to call a lawyer and if you call this lawyer he’ll explain to you that you can file an action called a Partition Action. A Partition is just like a partition wall and it says that you can file a lawsuit suing the co-owner and asking the court to appoint a third party, which is called a Special Magistrate. The Special Magistrate’s appointed to then sell the property for all the owners of the property and then deposit the money in the registry of the court and then the parties can then ask that it be divided. If either party has invested more, paid the taxes, or have what they call special equities, they can assert those against the purchase price and whenever the money is divided equally. The cost involving these type of proceedings usually runs in the neighborhood of $2500.00 to $3500.00. However, if they’re highly contested they can be a whole lot more than that. The time period usually take about nine months and unfortunately it involves usually family members or prior domestic relationship between two parties that may not have been married, but had resided together and purchased a house jointly. So if you need to get some property sold and you need a Partition Action filed, well give me a call at 727-847-2288.
- Published in Real Estate, Videos
How Do I Evict a Family Member from Our Property?
Video Summary
Well this usually, involves a family member or even a friend who has worn out their welcome and are staying in your property and you let them take possession of the property. You’re not charging them any rent, and however now want them to leave the premises for whatever reason and there are any number of reasons I get these calls. The action is not an eviction action. It is called a Unlawful Detainer Action, although it is handled the same as an eviction is handled, in that you give the party who refuses to leave the premises a notice advising that they have a certain number of days to vacate and if they don’t vacate, well then you file an action called an Unlawful Detainer stating that they entered the property lawfully, however they refuse to surrender the property after you’ve made demand upon them. So if you have this type of problem and you need to have someone to get rid of an unwanted guest or a family member that’s outlived their welcome, give me a call at 727-847-2288.
- Published in Real Estate, Videos
How Do I Obtain a Power of Attorney?
Video Summary
Well, you don’t obtain a Power of Attorney for someone. Someone must grant you or sign a document called a Power of Attorney appointing you as an agent. So if you have a loved one or a party that is in the hospital that is incompetent, you cannot get a Power of Attorney for them and that they must be competent when they sign the Power of Attorney. The Power of Attorney statute was changed in 2011 which gave various rights which have to be initialed off on, which are called superpowers. And a Durable Power of Attorney survives the incapacity of someone; however the person must be competent whenever they sign the Power of Attorney. So you cannot obtain a Power of Attorney over someone, they must sign it when they’re competent and grant it to you and then you serve as their agent. You cannot use the Power of Attorney or you’re not supposed to use the Power of Attorney to transact business in your behalf, such as transferring assets into your name without consideration, or if you’re dealing or having a business transaction you need to be very cautious and make sure it’s at arms’ length. So if you need to have a Power of Attorney, give me a call at 727-847-2288.
- Published in Estate Planning, Videos
What Do You Mean By Corporate Minutes?
Video Summary
What do you mean by corporate minutes? Each year, a corporation should have a shareholder’s meeting. And the purpose of the shareholder’s meeting is to elect the directors of the corporation. So, that should be one meeting. And not all shareholders are necessarily directors, although in most small corporations the shareholders do serve as directors and officers. But you need to have separate meeting minutes for the shareholders, and their purpose is to elect the directors.
The other corporate minutes are director’s minutes. In the director’s minutes, the directors will elect the officers of the corporation; that’s the function of the directors rather than the shareholders, so you have separate minutes. And so, the directors elect the officers, and also set forth any particular corporate loans, or anything out of the ordinary, particularly if there’s been shareholder’s loans, or if you’ve loaned money to shareholders or the shareholders have lent money. Then, they need to authorize the loans in the director’s minutes to the president of the corporation. So, you need to have two sets of minutes; one for shareholders, and one for directors.
If you’d like an information sheet and assistance in preparing your corporate minutes, whether they be shareholders or directors or both, and/or filing your annual report, give me a call at 727-847-2288. Thank you.
- Published in LLC's and Corporations, Videos