What Happens If the Person I Chose as Trustee Can’t Serve or Dies?
Video Summary
What happens if the person I choose as trustee can’t serve or dies? Your trust document should name a successor to the named trustee. If the trust document does not name a successor trustee or all the successor trustees are deceased or not qualified to serve, then the beneficiaries will need to petition the court for the appointment of a successor trustee. If you have any questions concerning this, give me a call at 727-847-2288.
- Published in Estate Planning, Trusts, Videos
How Do I Convert My Sole Proprietorship into an LLC?
Video Summary
How do I convert my sole proprietorship into an LLC? Well, the first thing you need to do is contact the Secretary of State or your attorney and have them organize or set up an LLC with the Secretary of State. Once that’s been established, well, then you simply title your assets into the name of the LLC and open up a bank account under the LLC for which you’ll need to obtain a federal identification number. You should also consult with an attorney about signing an operating agreement, which will indicate who the owner of the LLC is. And if it’s a single member LLC, he’ll explain to you that the LLC assets may be subject to your creditor’s claims if you have a judgment against you. It’s recommended that you have more than one person as a member of your LLC, which prevents this from happening. If you have any questions, give me a call at 727-847-2288.
- Published in LLC's and Corporations, Videos
Is It Legal to Rent Out My Home on Airbnb Despite HOA or City Restrictions?
Video Summary
Is it legal to rent out my home on an Airbnb despite HOA restrictions against running them out or city codes which also prohibit the running of the property for an Airbnb? If you do rent it out, then the homeowner’s association can fine you for violating the restrictive covenants. If you do that in violation of the city ordinances, it’ll be a code enforcement violation, and they can put a lien against your property for this. Also, just as a side note, whether or not it’s permissible or not, if you undertake to lease out your property or rent your property out on Airbnb and it’s your home, it may jeopardize your homestead exemption. Doesn’t have anything to do whether or not it’s authorized by the HOA or by the city or county ordinances. If you have any questions, give me a call at 727-847-2288.
- Published in Real Estate, Videos
How Do I Remove a Deceased Co Owner’s Name from the Property Title?
Video Summary
How do I remove a deceased owner’s name from the property title? If the property is held as joint tenants with right of survivorship with the deceased owner, then you need to record a death certificate in the public records where the deeds are recorded. Also, if the property is held as husband and wife, that also creates a right of survivorship, and you need to record a death certificate for the deceased owner and that will vest title or show title is now vested in the surviving joint tenant or tenants. If the property is not held as joint tenants with right of survivorship or as husband and wife, then the deceased co-owner’s name will have to … The title will have to be probated and go through probate proceedings. I might add that you will not receive a new deed just because a deceased owner dies, so you don’t sign a new deed to take their name off the title. That is done by operational law by recording the death certificate in the public records. If you have any questions, give me a call at 727-847-2288.
- Published in Estate Planning, Real Estate, Videos
How Can I Protect Myself from Real Estate Title Fraud or Deed Scams?
Video Summary
How can I protect myself from real estate title fraud or deed scams? Well, you can contact the property appraiser in the county where the property is situated or the clerk’s office and register your property with them and there’s a particular program or statute which allows them or they will notify you then if there’s any transaction involving your property so that if there is a deed of fraudulent deed or mortgage in conjunction with your property, you’ll be notified. You’ll need to obtain a copy of the document if you’re not aware of the transaction and then consult with an attorney concerning the document and what steps are necessary if it is a fraudulent transfer. This is not to be confused. Sometimes whenever you acquire property, you get correspondence from companies although they try and look like they’re a government office that says that they will send you a copy of your deed for a fee, which you need. This is unnecessary since whoever closed your transaction will provide you with this document. It’s in the public records and this is, I don’t know if it’s a scam or not, but that’s the way I view it. So you need to ignore those letters that you get other than from the clerk of the court. If you have any questions, call me at 727-847-2288.
- Published in LLC's and Corporations, Real Estate, Videos