Video Summary

Is the housing market on the rise in 2015?  Well you are simply asking an opinion of a real estate lawyer in New Port Richey, Florida.  From my perspective, yes; the market is picking up.  The number of sales in particular, as far as the price is concerned, we are seeing some price appreciation in that you have supply and demand. 

What is also interesting is the amount of owner financing that I’m seeing involved in the sale of properties or leases with options to sell.  So from my perspective in Pasco County, New Port Richey, Florida is yes, the housing market is improving substantially and hopefully we continue to get a price appreciation.

And if you need some assistance in selling your home or closing your home, I write title insurance and also if you need some help with the owner financing I’ll be glad to discuss with you the advantages, at least with an option to purchase, and also whether or not you can take back a note and mortgage and what the downside is to owner financing.

Give me a call at (727) 847-2288.

Video Summary

Are you still liable for a mortgage if you quit claim the property to a third party?  The answer to the question is yes; you are still liable under the promissory note that the mortgage secures.  The mortgage is a lien against the property, which of course the buyer is taking the property subject to so they can enforce the mortgage or foreclose if the payments are not made. 

You signed a promissory note and so if you are the maker under the note you have liability under the promissory note.  The time that that would be a problem would be if the property was not worth as much as the amount that is owed under the note and then the mortgage holder could if they would sue you for what they call “a deficiency judgment.”  But you are not relieved from the liability under the promissory note if you simply convey away the property by quit claim deed, sale, or any other type of conveyance. 

So if you would like to be released and you want to convey the property away, well give me a call and I’ll tell you what will be necessary to do that.

My phone number is (727) 847-2288.

Video Summary

What should I do if my neighbor’s fence is situated on a portion of my property?  Well usually it’s not a problem particularly if it’s just over a little bit and you get along with your neighbor.  Some people get concerned about having fences on their property and they get concerned about the neighbor cutting the grass or being able to claim that property if they leave the fence there a long period of time.  That is not the case.  The only time that you have to worry about if it comes into being is whenever the boundary line is uncertain.  Let’s say you don’t have a platted lot or you’re out in the field, and then you have a dispute as to where the actual boundary line is.  And then sometimes the fence can be indicative of where the boundary line should be.

But fences, a lot of people look at that when they buy property and think well, the fence shows where the boundary line is when in fact the fences don’t show where the boundary line is and you really need to have a survey.  Getting back to the question about what to do about it with your neighbor, well good fences make good neighbors and if it doesn’t, it encroaches just a few inches one way or the other, well, it’s certainly not going to hurt you in any way.  And so I wouldn’t worry about it.  If your neighbor becomes a problem, well then I suggest you get a survey so that you have a drawing that shows where your fence is on your property and if you want it removed and you don’t get along with the neighbor is to send him a copy of the survey and a letter saying that please move your fence and give him a time certain.  Say if you don’t contact me within that period of time I’m going to remove your fence from my property.  Please make arrangements and remove your fence.

So it really doesn’t present too much of a problem.  Now whenever you get financing and there’s a fence encroachment, the lenders really don’t have problems with the title insurance people will probably ensure the lender that they won’t suffer any loss by reason of a fence encroachment.  So it’s primarily a how well do you get along with your neighbor situation rather than any particular legal situation  ’cause you’re not gonna lose your property over the fence being on your property.

So if you got a fence problem, well give me a call.  I’ll be glad to talk to you about it but you don’t want to spend a whole lot of money on it.  The other solution is if you do want it removed at some point is try and enter into an agreement with our neighbor that says I don’t have a problem with it but if somebody on down the line, we need to take care of it for legal purposes, will you sign an agreement that you’ll remove it later on is another solution.

So if you have questions, well give me a call at 727-847-2288.  Thank you.

Video Summary

If separated, can my spouse inherit the property I buy before we are divorced?  Well one of the first things we need to address is Florida doesn’t have legal separation.  I believe that’s something comes from New York where they may have legal separation but we don’t have that.  In Florida either you’re married or you’re single, one of the two, you’re not anywhere in between as far as your rights are concerned.

So we get to the question as to whether or not your spouse can inherit your property.  Under our Florida law as is that you can leave your property to whomever you want under your will and you can exclude your spouse.  Your spouse then has the right to file what they call an elective share wherein they get I believe it’s 30 percent of everything you own no matter how you hold it, whether it be in a revocable trust or wherever.  So yes, you can buy property, you can leave it to whoever you want to.

Now if you happen to buy a home and you’re separated and you not going to be able get a mortgage when you buy a home in Florida if you’re married without the joint of your spouse because the Florida constitution requires that a spouse join in any conveyance or any mortgage as far as your homestead is concerned.  But let’s say you say, “Well that’s not a problem.  I pay cash for it.”  Well that’s, it’s not a problem until you get ready to sell it during your lifetime while you’re still alive, and then you turn around and have to have your spouse join in the deed in order to be able to sell it.  So if it’s your homestead here in Florida it’s not so much a problem buying it but when you get ready to get rid of it or try and mortgage it, you’ve got problems as far as needing your estranged spouse to sign.

Also if you are still married, even though you’re separated and you own your homestead here in Florida and you pass away, the spouse has a right to a life of state in your homestead property or can elect to take a half interest  provided that you don’t have any minor children.  If you have minor children then it’s automatic life estate.  So there’s any number of complications as far as purchasing property.  And so my suggestion is if you’re separated, well you need to go ahead and take care of getting divorced and clean up your property rights or enter into a marital settlement agreement with your separated spouse whereby they’re waiving any rights in this and that’s another way to handle these problems.

So if you have any questions on that, well give me a call at 727-847-2288.

Video Summary

If my property is taken by eminent domain, how is the compensation for the property determined?  Well the Florida statutes provide that you are entitled to just compensation.  So the amount that you’re entitled to recover is determined through the appraisal process.  And so if you hire an eminent domain attorney, he will select appraisers and see about getting your property appraised.  And then he will negotiate or if necessary, have a trial and have a jury determine the amount of your compensation in an eminent domain transaction.

The issue is is whilst I’m worried about having to pay the attorney.  What is nice about the eminent domain statute, it provides that the attorney is entitled to be paid by the condemning authority, so whatever governmental body is condemning the property, must pay the attorney fees.  The attorney fees are measured by taking the amount that the first offer that was made by the condemning authority to you for the property and subtracting it from the amount that they eventually wind up paying you and then taking a percentage of that amount and that’s going to be the attorney fees that your eminent domain attorney is entitled to.  So it will not cost you any money for an eminent domain attorney to handle that.

So if you’re notified that a condemning authority is going to take a portion of your property for road right of way or for any reason, give me a call and I don’t handle these but I will put you in touch with a very, very good eminent domain attorney that will be pleased to represent you and help you with this process.  You will find that the condemning authority will first come and ask them if you’ll give them the property.  I believe that’s the first step, then they will make you an offer and then once they make the offer then, I don’t suggest you accept it until you consult with a eminent domain attorney and see if they can help you get any more money for your property.

So if you have any questions or you’ve gotten a letter from the condemning authority, well give me a call at 727-847-2288.