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Hollywood Real Estate Law Blog

What you need to know about property deeds

When you are undergoing a real estate transaction, you will likely come across several unfamiliar terminology and concepts. You must gain clarity on anything that you are unfamiliar with because if you do not, you might make unwise decisions.

Property deeds come in many different forms, and they are a crucial legal instrument when transferring property. The following are some commonly asked questions regarding property deeds.

Simple strategies to lower your property investment taxes

Taxes can be a major barrier to growth. Not only can it affect your bottom line, but it can also prevent you from having the funds to reinvest into your ventures, enabling you to prosper in months and years to come.

The government wants to gain the tax that they need without stifling growth opportunities that will aid industries. As a result, there are many opportunities to take advantage of tax deductions. It is important that you are aware of the many ways that you could reduce your tax obligations in Florida.

Get help with the 4 basic steps of real estate LLC formation

Forming a real estate limited liability company (LLC) has some major benefits for the stakeholders. In specific, an LLC insulates the investors and their personal assets from legal liability if there's a lawsuit involving one of the properties. The lawsuit would have to be directed at the LLC -- not you.

LLCs also help you build credit for your business through your LLC's EIN number -- and keeps the business credit separate from your own credit. There are also tax advantages that come along with owning property through an LLC.

What do I need to disclose when selling my home?

If you are going through the process of selling your home in Florida, you will likely be concerned with following the rules and fulfilling your obligations to the potential buyer.

If you are aware of certain defects in the property, you may be reluctant to disclose these with the prospective buyer because of a concern that it will decrease the value of the home or that they will lose interest in the property. If you have any concerns about this, it is important that you make yourself aware of what you are obligated to disclose and what you are not.

Tips for creating a real estate company in Florida

Setting up a company for real estate investments can be beneficial even if you are not a professional property developer. Limited liability companies (LLCs) are a great choice for those who want to mitigate risk because they prevent investors from becoming personally liable for any debts that the business acquires.

If you are starting to invest in property in Florida, it is important to understand how to create LLCs for your properties so that you can maximize the benefit that they will have. The following are some key tips for doing this.

How big is that rentable area?

When looking for a new commercial space, the actual floor space that you get is important. Not only may it define how you set up your business, but you look at the rent through the lens of what you pay per square foot.

This can get tricky, though. Landlords and tenants may not have the same thing in mind when talking about "rentable space." In fact, some experts warn that most leases really only give you access to 75% to 90% of the area that is listed in that lease.

1031 exchanges and estate planning

1031 exchanges are a great way for real estate investors to defer taxes on properties that they are buying and selling. Simply speaking, 1031 exchanges allow investors to "swap" properties, which means that they are able to defer the capital gains taxes that they would have owed initially on the first property.

There are some terms that need to be satisfied in order for an investor to legitimately engage in a 1031 exchange. One of the key terms is the necessity of participating in a like-kind exchange. This means that property that is exchanged should be used for the same purpose, whether residential, commercial or otherwise.

Tips to consider when investing in property

Buying property, especially your first property, can be overwhelming. There are a lot of financial and legal steps to manage. You’ll also need to consider location, the housing and economic climate, the amenities your renters will be seeking among other pitfalls and opportunities that may arise.

Does your lease include rent increases?

When you sign a commercial lease, it is very important that you understand exactly what obligations you have and how the deal may change over time.

For instance, many people sign short-term leases for just a year or two, and have an option to renew the lease at that point. This gives them the confidence that they can keep the space if they want it and if it's working out, but they're not obligated to stay for five or more years if the business goes south. That freedom can be very convenient for new businesses.

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Jeffrey Feinberg, P.A.
4651 Sheridan Street
Suite 200
Hollywood, FL 33021

Phone: 954-962-8889
Fax: 954-966-6259
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