What Is Not Covered By Insurance After A Hurricane
Video Summary
What is not covered by insurance after a hurricane? Well, the first answer the question is, whatever’s not covered by your insurance policies as far as what’s not covered. So let’s start with, do you have flood insurance? Flood insurance is necessary to cover your loss as a result of rising waters or flooding. If you don’t have flood insurance, you don’t have coverage for rising waters or flooding. If you have homeowner’s insurance, again, you need to look at what coverages you have. And, if you don’t have wind coverage, well then you not gonna be covered for any wind damage to your home. Also on your homeowner’s insurance, there’s a hurricane deductible damage caused as a result of a hurricane. And I believe the smallest percentage of your policy is like 3%. So if your home is insured for a hundred thousand or, let’s say $200,000, the first $6,000 of damages is not covered by your, your homeowner’s insurance and that there’s a hurricane deductible. My suggestion is that you might wish to contact your insurance agent before you have a problem, or if there’s a hurricane coming your way, give them a call and ask them what exactly what coverages you do have. I’m not an insurance expert and don’t practice insurance law. And this is more of a practical approach to your insurance. If you have any questions, give me a call at (727) 847-2288.
- Published in Estate Planning, Real Estate, Videos
Is There A Redemption Period After The Foreclosure Sale In Florida?
Video Summary
Is There A Redemption Period After The Foreclosure Sale In Florida? Yes, there is, but it is very, very short. After the sale the redemption period must, must be redeemed before they issue the certificate of sale, which is usually very shortly thereafter. So as a practical matter, no there isn’t. I understand that in states that have non-judicial foreclosures, that the redemption period is a considerable amount of time. However, in Florida where a judicial foreclosure state and foreclosures take a long period of time and the property is sold at a judicial sale which is an auction, and then you have third party bidders and they have to make a deposit. And then once they, the successful bidder, deposit the balance of the money into the register of the court the same day that they are the successful bidder. So your redemption period needs to take place prior to the foreclosure sale because the certificate of sale is issued shortly thereafter. If you have any questions, give me a call at (727) 847-2288.
- Published in Real Estate, Real Estate - Foreclosure, Videos
Can I Terminate My Commercial Lease
Video Summary
Can I terminate my commercial lease? I think the answer would probably be no, unless the landlord had breached the lease. Yeah, so you don’t have a right to terminate your, lease your commercial lease unless there’s a provision in there called a buyout provision and some commercial leases have this provision, which is usually negotiated on the front end. Before you sign the lease, it says that if you pay the landlord a certain amount of money, then they will release you from the balance of the term of your lease. Otherwise you’re bound by the lease and unless the landlord breaches it, you are not able to escape liability. Only the landlord, the money’s due under the lease. If you have any questions you can call me at (727) 847-2288.
- Published in Real Estate, Videos
How Does A Real Estate Deed Need to Be Formatted?
Video Summary
How does the real estate deed need to be formatted? Well, the first thing you have to do is, show who the grantor is, or the person who owns the property, whose conveying it to someone else. That person that they’re conveying it to is called a grantee. We need to have their name in the deed and we also need their address. Then you next need to show that it’s what the consideration is, whether it be $10 or it’s a gift or the dollar amount that the, this transfer is being made for, then you need to put in a good legal description, just not what the property appraises says it is or what the street address is. You need the legal description in it. Then, you need to have magic words in, in the deeds of conveyance, such as they grant convey transfer. So quick claim, all of those indicate that your transfer, the title, and then you have the legal description. Then the deed must be signed the presence of two different witnesses. And then you have to have an acknowledgement. That’s not a, a sworn statement, but an acknowledgement by the person doing the conveyance, the deed needs to be signed the presence of these two witnesses. So that’s the format for a deed in Florida. If anyone’s viewing this outside the state of Florida, I am not telling you what’s required in those states, but that’s pretty much the format that you need for a deed. I know the, the clerk of the court may require the grant tour to put their address in the property. We also put down the marital status of the grant tour and that if it’s his home, he needs to be single, or if not, he needs to have his spouse join in the deed to convey property and show that their husband and wife, or if he’s single or just what his status is. So if you have any questions about, the deeds, uh, give me a call at (727) 847-2288.
- Published in Real Estate, Videos, Wills
I Live on My Mom’s Property, She Died Do I Have Squatters Rights?
Video Summary
I live on my mom’s property and she died. Do I have squatter’s rights? The answer is no. You do not have any squatter’s rights. As far as living on her property, her estate would need to be probated, in order to determine who she left the property to, and whoever is the owner. And hopefully if you are an owner, you do have the beneficiary so that you would wind up being the owner of her property. As an owner, you have a right to maintain possession of the property, as non exclusive. So, if however, you are not a beneficiary and it passes to someone other than yourself or to other parties, other than yourself, they would have a right to have you removed. That’s called an unlawful detainer action, which is a, basically an eviction of someone who is not a tenant. And so you do not have any squats rights, not that squatters have any rights, to stay on the property. If you’re not, the owner of the property, or have rented the property. If you have any questions, give me a call. Its 727) 847-2288.
- Published in Real Estate, Videos, Wills