What You Need to Know About Business Litigation

It goes without saying that at the foundation of your company, all the way through your decision to sell it or close down the business, you can benefit from the insight of a business lawyer in New York. The right attorney will be able to give you advice that helps you protect your individual and company interests over the duration of the company.

Business litigation is one common risk that can emerge at any point during the existence of your company. You need to choose a business litigation lawyer who is thoroughly experienced in the field. Litigation can come about as a result of disagreements with employees, contractors, or any vendors that you do business with.

Having contracts developed appropriately and reviewed on a regular basis can help to minimize litigation but it does not always avoid litigation altogether. For example, you might be facing problems associated with someone who slipped and fell on your property, triggering a personal injury claim.

If your company is not structured properly or if you’ve not mitigated all of the risks associated with your business, you could be held personally responsible for any of the problems that emerge due to business litigation. It is important to explore all possible avenues for resolving business litigation issues sooner rather than later.

With the right lawyer, this is easily managed. Your lawyer can intervene immediately and identify whether or not there are opportunities to resolve the issue outside of court.

In the event that you cannot resolve these issues outside of court, your New York business lawyer will prepare for litigation to handle this issue effectively and expediently, while minimizing your costs and future risks.

Business litigation may seem like an unavoidable aspect of owning a company. It is true that with the right planning you can minimize your chances of problems with litigation, however it is always beneficial to have an attorney at your side prepared to fight back in the event that litigation emerges. Both proper planning and response can go a long way when you’re concerned about your future.

 

What Happens After an Offer Is Accepted on A Property?

If a real estate broker has been involved in your New York real estate transaction, that person will usually give the attorneys a binder or deal sheet. This allows the attorneys to communicate with one another.

Things are different in New York when compared with other states. Before entering into a contract, the engineer’s inspection is typically performed in New York. After this has been obtained and the parties have agreed to any repairs to be made by the seller or price reductions, the attorney for the seller then puts together the contract of sale. This must be reviewed by the purchaser’s attorney as well as the parties intending to purchase.

The terms of the contract may need to be negotiated at this stage, depending on whether or not everyone can come to an agreement. After this point, both parties will sign and the down payment is deposited in the escrow account with the seller’s attorney. This is handled until termination of the contract or until closing. There is an exception to the typical rules in a real estate transaction because a mortgage contingency clause will usually be included in the paperwork, that gives a specified period of time such as 45 days to get a written commitment from the mortgage company for the amount wished to finance.

This is true with one exception of cash deals. If the purchaser cannot get a mortgage commitment within this clarified time period, they can ask for an extension to get financing. However, if the seller does not agree to an extension or if the purchaser is outright denied on the mortgage application, the down payment is returned to the purchaser and the transaction is canceled in full. After all conditions on the loan have been satisfied once the purchaser has obtained the mortgage commitment, the parties can move to closing. It can take a couple of months to get to the closing point if financing is involved. Before closing, the purchaser’s attorney needs to order a title report. This is then reviewed by the sellers, the lender’s attorneys and the purchaser’s attorneys.

Any title issues will need to be addressed promptly in order to minimize future legal problems. If you are thinking about buying or selling real estate in New York, it is in your best interests to have the services of an experienced attorney at your side for the duration.   

Closing Out a Successful Real Estate Deal In New York With A Real Estate Attorney

Successfully Closing A New York Real Estate Deal

The details associated with buying or selling a home in the State of New York can be overwhelming for anyone, even if you have done property transactions in the past. This is one leading reason why people schedule a consultation with an experienced real estate attorney at the outset of deciding to move towards closing. Whether you are the purchaser or the seller, moving towards this final closing day can be an exciting prospect and one you look forward to greatly.
However, there are so many potential missteps along the way that it’s important to protect yourself by having an experienced attorney. While you are within your legal rights to buy a property without an attorney, it’s unusual and risky for any real estate deal in New York to go down without the involvement of at least a buyer’s attorney. Usually attorneys will be present on both sides of a real estate transaction throughout New York for the buyers and the sellers.
Make sure that if you allow the seller to stipulate the buying contract that you have your own attorney to review it prior to signing any agreements. This is one way to avoid several of the most common challenges associated with real estate transactions. Knowing what you are in for and what you have agreed to at the outset can minimize your problems. Even before you sign a contract for that new apartment, your attorney should be reviewing careful information such as several years’ worth of board meeting minutes, if there is a homeowners’ association or board of directors.
Your lawyer might also look at the offering plan and any necessary financial statements to make a final determination about whether or not this document truly protects you or whether you are exposed to greater risks. A smart buyer will hire an attorney well in advance of closing to avoid significant problems.
Hire an experienced NY lawyer for closing.

What Makes a Real Estate Attorney Different from A Home Buying Agent?

There are so many different professionals that you could potentially interact with the process of buying or selling a real estate in New York. Since it’s such a significant transaction, many people will hire a real estate agent early on to assist with the search for a home and negotiate on their behalf.

Real Estate Agents

Real estate agents generally fall into one of two categories; home selling agents or home buying agents. Home buying agents help to level the playing field for everyone looking to purchase and their knowledge of the neighborhood contractors, sellers etc. can be extremely valuable. Home buyers might also use real estate attorneys to represent their interests as they decide to move forward with the purchase of a home. Attorneys who are practicing in real estate law on a regular basis, can provide counsel on a broad range of legal issues that can arise over your home purchase.

Hiring a Lawyer or Buying Agent

Whether you hire a lawyer, a buying agent or both, you will be paying these professionals for their services. There are many different reasons why you may wish to hire an attorney in addition to a home buying agent. First of all, in the event of a legal problem surrounding the purchase of a home, only a knowledgeable and licensed attorney can give you legal counsel and represent you in court. If there are illegal encumbrances on the property such as liens, or there is a tenant who you want to evict in order to rent to someone else, a knowledgeable real estate attorney can provide you with the necessary insight to protect your interests and give you more information about how it is recommended that you proceed.

New York Home Purchase

Attorneys can also be very helpful in reviewing necessary contracts. If you are going forward with the home purchase without a buying agent, your lawyer should review the contract carefully to ensure that your rights are represented and that you are not exposing yourself unnecessarily to risks. Scheduling a consultation with a New York real estate attorney can tell you more about how this person can help you with your purchase.
Hire a real estate lawyer to help with your home purchase.

Do You Need a Real Estate Lawyer for Commercial Real Estate Transactions?

The world of real estate law can be extremely complicated and detail focused. The two primary types of real estate transactions are residential real estate and commercial real estate. This is a critical distinction between each real estate transaction carries a unique set of risks and legal issues.  A real estate lawyer in NY is always beneficial when you have questions about a potential transaction, but it’s even more important when you are entering the world of commercial real estate.

A lawyer who has significant experience in this field can help you avoid common mistakes and give you a better chance of a smooth transaction every time. Forming a relationship with someone now who understands the landscape means you have somewhere to turn when you have questions about the most appropriate avenue for your real estate needs. Having access to someone with a strong background in real estate law can serve you not just in current transactions but in all your commercial real estate dealings.

Real estate lawyers are extremely beneficial for commercial real estate specifically. The importance of details is amplified in commercial transactions because it is associated with a risky set of requirements and concerns beyond what would be present in the sale or purchase of a home. The process of handling aspects such as negotiating the purchase price can be extremely complex. Critical questions include:

  • How will structural problems that emerge after the closing day be addressed?
  • What kinds of warranties can be obtained to protect against any unknown environmental issues?
  • If anything happens to cause the deal to fall apart, how will damages be determined?

A real estate attorney can help to negotiate the procedures associated for what will happen if the deal does fall through. A real estate attorney can also help to assess the values of the penalties. Real estate lawyers are extremely important in the duration of your commercial real estate transaction because they assist you with the research process, the development and review of necessary contracts and step in to guide you if and when there are problems with the transaction.   

 

What You Should Know About an Active Corporation’s Responsibilities in New York

After you have appropriately formed a business corporation with the help of an experienced Syracuse lawyer, an organizational meeting of the incorporators needs to be held for the purpose of transacting business and adapting bylaws.

The corporation must have accurate and comprehensive books and records of the accounting as well as keeping minutes of the board of directors, shareholders and executive committee. The corporation is responsible for keeping a record containing the contact information for all shareholders, the number and class of shares held by each of these individuals and the dates when they became owners of record thereof. A meeting of shareholders must be held on an annual basis for the purpose of electing directors and transacting any other business on a date fixed under the bylaws.

The corporate books and records and bylaws are not filed with any state agency like the Department of State. Rather these are internal documents that must be maintained and appropriately sought by the corporation. In order to get all of the necessary benefits to comply with New York state laws regarding your business, it is imperative to ensure that your business is in good standing with the division of corporations and the Department of State. All local, state and federal requirements must be maintained properly in order to avoid legal issues.

 

Running a company requires careful review of all the processes, paperwork, and functions in order to ensure you’ve mitigated all risks and remained compliant with state and federal laws. You likely have enough to worry about without managing this entirely on your own, but outside counsel is helpful for determining the right processes and means to achieve your goals without hampering your schedule any further. Don’t expose yourself to mistakes.

 

Consulting with an experienced business attorney in New York is one of the best ways you can avoid significant challenges faced by many companies that do not do their due diligence or understand their reporting and recordkeeping requirements. Having a lawyer to advise you about these general business issues can help you avoid some of the most common problems associated with compliance.

 

What’s Your Attorneys Role In A New York Home Sale?

Anyone who is buying or purchasing real estate in New York would do well to consult with an experienced real estate attorney at the outset of the process. There are many different items and pieces of paperwork that must be addressed in a traditional home sale and having an attorney who has assisted others with this situation many times in the past can help you to target the materials that you need in order to stay organized. Your attorney will play a crucial role if you are selling your home in New York. Based on the conversations that you have had with your agent, your attorney is responsible for preparing the contract of sale.

Usually an attorney will initiate with a standard form and then add on writers that will incorporate the additional terms that have already been negotiated with your buyers. After your attorney and the purchaser’s attorney have finalized the contract, the sellers and buyers will sign it and the buyers will send your New York real estate attorney a down payment. If they walk away from the sale, you will still be able to keep this down payment unless they have walked away as a result of something listed in the contract. In New York state, the typical down payment is 10% of the purchase price and your New York real estate attorney is responsible for depositing this into an escrow account.

Your attorney will also have to do several things in preparation for closing after the contract is signed. The attorney works at the title report that has been ordered by the buyer’s attorney to determine whether or not there are any issues that need to be resolved before the closing. These include violations and liens against the property. Then your attorney prepares the necessary closing documents including the transfer, tax returns and the deed. And then the attorney will calculate the amounts owed at closing.

Your attorney can also request a payoff letter if you have a mortgage to determine the amount that needs to be paid back to the lender. Your attorney further calculates the closing costs that are owed by you and any proceeds from the buyers that are owed to you. Finally, your New York real estate attorney represents you at the closing portion of this sale. An experienced attorney is a crucial asset during a home sale or purchase.

 

What Are The Most Common Problems In A Real Estate Transaction?

There are many different issues that may arise when you are purchasing any kind of real estate across the state of New York. A title problem can unfortunately present major challenges in a real estate deal, which is why it’s so important to become familiar with the issues that could prove to be an obstacle. Having the right New York real estate attorney can help you avoid many of these challenges.

When a title problem emerges, this can cause an otherwise good deal to fall apart. If you’re not familiar with your options, either, this could lead to a total breakdown the transaction. Avoiding this should always be a top concern.

Some of the most common types of title problems include:

  •    Illegal deeds: It’s possible that prior deed was made by an undocumented immigrant, a minor or anyone else who would not be legally permitted to own a property.
  •    Errors in the public record: A clerical error could impact the deed or survey of your property, thus causing issues when it’s time to transfer it from seller to buyer.
  •    Unknown liens: It is important to conduct all necessary research to identify any liens that could be held against this property.
  •    Forgery: In some situations, an individual will may forge a document for purposes of personal gain. This can obscure property ownership and make it more challenging to make a purchase.
  •    Other mistakes made in the process: Title issues can be extremely complicated and this highlights why it is so important to hire the right New York real estate attorney to conduct an investigation and discovery of title in advance of moving forward with the process.

It can be exciting to make a real estate transaction, but this is not the case when there are potential errors that block you from being able to sell or purchase the property you had in mind. Conducting a thorough investigation at the outset of your case is crucial and hiring the right New York business lawyer goes a long way towards accomplishing this goal.

 

What To Expect At Your Real Estate Closing In New York

It can be a mysterious process, if you have not engaged in it before, which is just reason why a Syracuse real estate lawyer can help you when selling a property or buying a property. Real estate closing might also be referred to as settlement. These two terms can be interchanged, although closing is more commonly referenced. The final step of your real estate purchase transaction is referred to as the closing and it refers to the official transfer of property from the seller to the buyer.
One of the most important aspects ofclosing day is the final distribution of funds. The seller will get a check for whatever proceeds they have earned from that sale and a real estate agent will also receive a check for commissions when this applies. The home purchaser will also need to have a cashier’s check ready to cover all of the closing costs. There is a lot ofpaper work that happens onclosing day in Syracuse, and having your lawyer at the ready means you feel more prepared and confident on the big day. Since so many details arise over the course of a property sale, having someone you trust is crucial.

It can be a mysterious process, if you have not engaged in it before, which is just reason why a Syracuse real estate lawyer can help you when selling a property or buying a property. Real estate closing might also be referred to as settlement. These two terms can be interchanged, although closing is more commonly referenced. The final step of your real estate purchase transaction is referred to as the closing and it refers to the official transfer of property from the seller to the buyer.

One of the most important aspects of closing day is the final distribution of funds. The seller will get a check for whatever proceeds they have earned from that sale and a real estate agent will also receive a check for commissions when this applies. The home purchaser will also need to have a cashier’s check ready to cover all of the closing costs. There is a lot of paper work that happens on closing day in Syracuse, and having your lawyer at the ready means you feel more prepared and confident on the big day. Since so many details arise over the course of a property sale, having someone you trust is crucial.

Typically, you escrow company will have many of these prepared already. Some of the specific things that occur on closing day in New York include:

  • A check is provided by the buyer for the amount owed on the house. This amount can also come from a buyer’s lender.
  • The seller gives the deed over to the buyer by signing.
  • The title company or a notary or a lawyer will register the new deed with the government office.
  • The seller gets any proceeds that they have earned from the sale after closing costs and mortgage balance have been paid off.

The deed of ownership transfers from seller to buyer after all the necessary documents have been signed and the funds have been distributed. Having an experienced Syracuse real estate lawyer help you prepare for closing day can make this process go much more smoothly and lead to this being one of the most exciting transactions in your life.

A real estate lawyer can help you with closing in NY

Typically, you escrow company will have many of these prepared already. Some of the specific things that occur on closing day in New York include:

  • A check is provided by the buyer for the amount owed on the house. This amount can also come from a buyer’s lender.
  • The seller gives the deed over to the buyer by signing.
  • The title company or a notary or a lawyer will register the new deed with the government office.
  • The seller gets any proceeds that they have earned from the sale after closing costs and mortgage balance have been paid off.
  • The deed of ownership transfers from seller to buyer after all the necessary documents have been signed and the funds have been distributed.

Having an experienced Syracuse real estate lawyer help you prepare for closing day can make this process go much more smoothly and lead to this being one of the most exciting transactions in your life.

A real estate lawyer can help you with closing in NY

Free Seminar to Provide Education on Solar Farms

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Free Seminar to Provide Education on Solar Farms

The Oswego County Farm Bureau in partnership with Cornell Cooperative Extension of Oswego County and the Oswego County Soil and Water Conservation District will be holding a Solar Farm Seminar on Wednesday, May 18th at the Oswego County Federal Credit Union in Mexico. Open to the public, the free seminar will focus on answering questions surrounding the utilization of solar power for electrical generation. Landowners, those interested in learning more about solar farms, municipal leaders and anyone concerned about the environment are encouraged to attend.

New York State’s Clean Energy Commitment will require 50% of electricity to be sourced from renewable energy sources by 2030. With this mandate, a key piece, the educational component, is often missing. This seminar aims to provide the necessary information to help interested parties make informed decisions. Some of the issues to be addressed include the pros and cons to leasing your acreage to a solar farm generator, is a farm’s agricultural exemption threatened should you sign a lease, what are the economics of solar farms, the environmental benefits and threats, how will solar farms impact land values and what do municipalities need to do to prepare for solar farms. There will be experts on hand to lead the discussion, provide information and answer questions. Invited speakers include Matt Brower from the New York State Department of Agriculture and Markets, attorney Melody Westfall from the Scalfone Law Firm and Mark Kellogg from Farm Credit East.

What: Solar Farm Seminar
When: Wednesday, May 18th from 7:00-9:00 pm
Where: Oswego County Federal Credit Union
5828 Scenic Ave, Mexico

For more information, contact JJ Schell at 315-963-7286 or jjs69@cornell.edu. To reserve your spot, please call the New York Farm Bureau Central New York Regional Office at 315-252-1367 or email jrossi@nyfb.org.