News & Resources
Many homes are sold across the country via Real Estate Brokers or individual homeowners. With nearly 6 million homes sold this year, the Real Estate Market is operating at a high level. However, increased activity in the housing market may bring an influx of litigation. As a real estate broker, it is vital to ensure you are shielded from liability and know your rights. With certain business relationships comes certain duties. A fiduciary is a person who holds a legal or ethical relationship of trust with one or more parties. Certain positions, however, do not have this legal relationship of […]
Vacation Rentals are a hot commodity in South Florida. With beaches, sunshine, and many activities, South Florida is a popular destination for many tourists. However, maintenance of these vacation rentals can be burdensome. In order to have a valid Vacation Rental Property in the city of Fort Lauderdale, an owner must acquire and maintain multiple licenses. A Business Tax License is needed, along with a Vacation Rental License. In addition, applications for these licenses require many other forms of documentation to pass the application review process for both the County and City. Furthermore, upkeep of these licenses is imperative as […]
The Florida Homestead Exemption, how you may be able to reduce your tax burden and protect your primary residence from judgment creditors.
Florida is home to sunshine, beaches, and much more. While many individuals vacation in the sunshine state, others choose to make it their home for a plethora of reasons. One of these many reasons may be the Homestead Exemption and creditor protection delineated in the Florida Constitution. In short, the tax exemption applies to every person who has legal or equitable title to real property in the State of Florida, who resides thereon, and in good faith makes it his or her permanent residence. To make a property one’s permanent residence, they must establish their domicile in that State. The […]
Last week, Olive Judd, P.A. closed three real estate transactions totaling $19,552,400 in a 48-hour period. Benjamin Olive, Nicole Villarroel, and Stephen Hoffman each closed significant transactions despite the coronavirus pandemic.
How Legal Meetings and Proceeding are Occurring Online During COVID-19 Stephen Hoffman lead a team that successfully obtained approval for a land use application from the Town Council of Southwest Ranches on April 9, 2020. Due to isolation rules in place by the Town and Broward County, the Town of Southwest Ranches conducted the Council Meeting virtually using the Zoom platform. Question: How did the virtual meeting work? Stephen: It worked excellently! I had a slight issue logging in (which elevated my heart rate a bit!), but once we got started the hearing worked well. The Town did an amazing […]
OLIVE JUDD LAWYERS ON THE FRONT LINES IN ASSISTING CLIENTS OBTAINING PAYROLL PROTECTION AND ECONOMIC INJURY DISASTER LOANS
On Friday, March 27, 2020 Phase III of the CARES Act was passed. This economic relief package was enacted in response to the COVID-19 pandemic and is intended to provide economic support to businesses, employees, individuals and families at the Federal level. On April 3, 2020, lenders started taking applications for the Payroll Protection Program from borrowers. Olive Judd, P.A. has already assisted clients with submitting these applications in order to maximize their loan amounts. Olive Judd, P.A. is advising businesses and individuals on how the CARES Act programs can help them during the COVID-19 crisis.
By Stephen Hoffman and Nicole Villarroel Broward County issued a “shelter in place” Emergency Order effective March 27, 2020 due to the COVID-19 crisis resulting in a high level of uncertainty for buyers, sellers and lenders as to whether they can close their residential and commercial real estate transactions. Parties to real estate transactions must close timely to prevent forfeiture of deposits, losing favorable financing terms and/or meet stringent deadlines to effectuate a 1031 tax deferred exchange. The impact of COVID-19 crisis on real estate and mortgage loan closings changes almost daily. We have implemented policies and procedures to allow […]
There are many reasons why a donor would want to contribute encumbered property to charity. Perhaps the property is perfect for the needs of a particular charity, or this may be the only property a donor owns that he is willing to donate. Whatever the reason may be, before a donor decides to donate property that is encumbered to charity, he should consult with a professional to determine the potential tax ramifications of the donation. For instance, assume Donor purchased a parcel of real property years ago that was used for business purposes. Over the years, Donor sold the property […]
Dissociating from a Multi-Member Limited Liability Company under Florida’s Revised Limited Liability Act
DISCLAIMER — This is not an advertisement. THIS IS NOT LEGAL ADVICE. Nothing contained herein shall be deemed or construed to create an attorney-client relationship. You should seek independent counsel to advise you regarding your specific situation, and IN NO EVENT ARE YOU TO RELY ON ANYTHING CONTAINED HEREIN FOR ANY PURPOSE. Dissociating from a Multi-Member Limited Liability Company under Florida’s Revised Limited Liability Act Florida’s Revised Limited Liability Act (the “Act”), codified in Florida Statutes Chapter 605, became effective on January 1, 2014. It applies to all limited liability companies formed or registered to do business in Florida after […]
Often when you hear “estate planning,” you think of planning for what happens after your death. Unfortunately, planning for sickness or disability during life is sometimes overlooked. There are several documents that are crucial to have in place in the event you become temporarily or permanently unable to make (or verbalize) decisions related to your health and finances, namely: (i) Durable Power of Attorney; (ii) Health Care Surrogate; (iii) Living Will; and (iv) HIPAA release. Durable Power of Attorney. A power of attorney is a legal document that gives someone of your choosing (family member, friend, trusted advisor) […]