In part 1 of this 3 part blog, we reviewed steps needed to understand what you own or have inherited. Now that you have an understanding of the property, you may have decided to keep the property and operate it for income purposes. This blog will review issues...
Creative Solutions. Dedication. Guidance.
Month: July 2016
Part 1: You’ve inherited commercial real estate. Now What?
Many of our clients are multi-generational property owners; sometimes the junior family members are involved in the business and are ready to step into ownership of the commercial real estate. Other times, those who inherit the property have never owned the particular...
Does Your Community Association (HOA) Prohibit Clotheslines?
Community Associations or Homeowners Associations for many years have prohibited outdoor drying of laundry. The intent of the Associations and owners of multifamily properties was to maintain the aesthetics of the property for everyone's benefit. The...
HOAs & Mobilehome Parks – Your Rules May Violate FHAA
Most HOAs and Mobilehome Parks have rules intended to protect children and other residents. Unless, the property is age restricted to 55+ or 62+, then such rules violate the Federal Fair Housing Amendments Act of 1988 ("FHAA").The FHAA created a new protected...
Manufactured Homes – Use Section 8 to Purchase
Manufactured Homes can now be purchased using Section 8 vouchers. The U.S. Senate passed H.R. 3700, the Housing Opportunity Through Modernization Act (HOTMA). The Manufactured Housing Institute ("MHI") issued a Housing Alert today, July 15, 2016, announcing the...
Fashion Designer Betsey Johnson Purchases Malibu Mobilehome
Famed fashion designer, Betsey Johnson, recently purchased an approximately 1,500 square foot mobilehome in what some have deemed "America's Most Glamorous Trailer Park." The previous asking price of the mobilehome was just under $1.95 million. Johnson purchased the...
Good News for Mobilehome Financing
Financing for mobilehomes has received good news after years of difficulty to obtain loans. The Manufactured Housing Institute provided an overview in this article. The good news came from actions taken by the House of Representatives in Washington D.C. to...
What is a Buy-Sell Agreement? Does My Business Need One?
A buy-sell agreement is a business contract most commonly entered into by individuals shareholders and the corporation. In simple terms, a buy-sell agreement is primarily used to restrict the transferability of the shareholder's shares of stock in the corporation by...
