How Long Could Your Property Insurance Claim Take?

Posted on April 7, 2021

When you have suffered property damage and have filed or are considering filing a property insurance claim, you may be eager to know how quickly your claim will be approved or denied. After all, you likely want to fix our property as soon as possible. However, the length of the property...

RI Supreme Court Finds Implied Warranty of Habitability Means Strict Time Limit for Buyers’ Claims

Posted on March 17, 2021

When you purchase a home, there are certain expectations that you have regarding its safety. That’s why buyers in Rhode Island have protections from loss if the home is not only unsafe but also defective or has additional unforeseen issues that require resolution. The buyer can look to the purchase contract...

What Is a Quiet Title Action?

Posted on March 3, 2021

Choosing to buy a home is one of the biggest decisions you can make and you want to go about it the right way. That’s where a closing attorney comes into play. He or she can assist you with dotting the i’s and crossing the t’s in order to ensure that...

Homeowners Insurance Coverage

Posted on February 17, 2021

Homeownership is one of the largest investments most people will ever make. Protecting that investment with the right insurance coverage is crucial, especially in Rhode Island, where storms, coastal flooding, and other hazards pose significant risks. Yet many homeowners discover only after a loss that their policy doesn’t provide the coverage they...

Considerations When Naming Your Business

Posted on February 3, 2021

When starting a business, the name is everything. A business’s name conveys its purpose and its culture, can act as a marketing tool, and provide many other keys to success. The name offers a chance to stand out and broadcast your business. Most importantly, the business name allows potential customers to...

Tips for Buying Your First Investment Property

Posted on January 20, 2021

Before buying your first investment property, there are three key considerations that will improve your odds of successfully building a robust and cash flowing real estate portfolio. These three key tips for first-time investment property buyers are: Make sure your personal debts are manageable. One of the major advantages of real...

Why Real Estate Investors Like Leverage

Posted on January 6, 2021

Real estate as an asset class does not provide exceptional, life-changing returns on its own. For many, the 3-8% return is simply not enough to justify the investment. Given real estate investing considerations such as low liquidity, concentration risk, and ongoing management demands, many investors may prefer to simply buy publicly traded...

Operating a Home-based Business

Posted on December 16, 2020

For many entrepreneurs, a home-based business is a necessity as the costs are simply too high to rent a separate office or area. Many small business owners find that working out of a home office allows them to maximize their time to develop and grow the business. Similarly, those with families...

The Benefits of Depreciation for Real Estate Investors

Posted on December 9, 2020

Real estate investors frequently cite depreciation as one of the major benefits of owning investment real estate. However, if you’re unfamiliar with real estate investing or accounting, you may have questions such as “what is depreciation?” and “what are the benefits?” We hope that the below sections provide insight into depreciation...

Force Majeure in Contracts

Posted on November 25, 2020

Force majeure is a legal term that many are familiar with, but few understand. In law, force majeure is often claimed as an excuse for breaching a contract following severe and unexpected events, such as a devastating hurricane. Due to the impacts of COVID-19, many businesses and investors...

Partnership Agreement Basics

Posted on November 11, 2020

Partnerships are a common business structure in the US because they do not require a formal agreement; rather, partnerships begin when two or more persons engage in a business enterprise for profit. Many partnerships start in this manner before drafting a clear partnership agreement to govern the enterprise. At PALUMBO LAW,...

Understanding Title Insurance

Posted on October 22, 2020

If you own real estate and have a mortgage, you have undoubtedly been exposed to title insurance. Even if you have never purchased real estate, you have likely heard of title insurance – whether seeing title insurance agencies or hearing “title insurance” in passing. Despite the ubiquity of title insurance, many...