In New York, choosing an attorney-in-fact (now referred to as an "agent" under New York law) is an important decision because your agent acts on your behalf when it comes to your personal finances and legal matters if something happens to you or if you authorize the...
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Basic facts about commercial real estate leases
Commercial real estate leases differ significantly from residential leases on several points. Before signing one for your New York business, familiarize yourself with the following items. Lease term Commercial real estate includes retail stores, warehouses,...
Should you buy a home with termite damage?
New York residents in search of a new home may believe that termites are one of the few things that they do not need to worry about, but they should. Termites cause billions of dollars of property damage each year in America, and the burrowing pests can be found in...
What makes a power of attorney durable in New York?
Many New York residents include durable powers of attorney in their estate plans to ensure that important medical and financial decisions will be made by a trusted and responsible individual if they become incapacitated or otherwise need help. Drafting these documents...
Obstacles that may prevent or delay a new home closing
Real estate transactions can contain a minefield of possible deal-killing obstacles. The clock starts ticking from the moment both parties sign the purchase contract, and then the complicated business of selling and buying a home in New York begins. Home inspections...
How to plan your estate: a checklist
There are a lot of issues to consider in planning an estate properly for when you're gone. The following is a checklist to help you start thinking about the answers you need for proper estate planning in New York. The most important things to remember when planning...
The pros and cons of seller financing
Seller financing occurs in a real estate transaction when the property owner functions as a mortgage lender. Continue reading to learn about the benefits and drawbacks to the seller and buyer participating in this type of financial arrangement in New York. Pros Seller...
What are beneficiaries in estate documents?
Naming beneficiaries is an integral part of creating your estate plan in New York. Determining who will receive your assets after your passing will give you peace of mind. Choosing your beneficiaries takes considerable thought. Here are factors you should way when...
What is joint tenancy in commercial real estate and why use it?
Owning real estate in New York can be rewarding. Many people own commercial real estate with another person. This is known as joint tenancy. What is joint tenancy and why might it be used for commercial property ownership? Joint tenancy means that more than one person...
Three essential conditions to have in your real estate contract
New York has many amazing homes for sale. However, in most cases, you'll need to sign a real estate contract before a new home is yours. Before you sign this important document, it's good to know about a real estate contract's conditions and to thoroughly understand...