Reverse Mortgages
Reverse mortgages have gained and waned in popularity over the years. While you may not understand how reverse mortgages work, you may remember the many celebrities who have been featured in reverse mortgage commercials, including Tom Selleck, Henry Winkler (“The Fonz”), and Jerry Orbach from Law & Order. Reverse mortgages...
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What’s the Difference Between a Condo and a Co-op?
Condominiums and co-operatives (commonly referred to as condos and co-ops) are becoming an increasingly more important source of housing for Americans. Demographic trends are seeing more individuals favoring location and convenience over large homes or properties in less convenient areas. In order to meet this demand, the density of living must...
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Understanding Tenancies and Tenants’ Rights
Acquiring residential real estate in the form of single-family and multi-family properties is a common method to build wealth and generate a strong and consistent cashflow. As a residential real estate investor, you need to understand the basic aspects of tenancies and the rights that your tenants will have. Landlord-tenant laws...
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Understanding the Difference Between Condos, Co-ops and HOAs in Rhode Island, Massachusetts and Connecticut
While condos and homeowners’ associations (“HOA”) are quite common, co-operatives are less common and often misunderstood. Many readers may be asking themselves how these three are different. While all three achieve similar goals of ensuring a quality living experience for residents and owners, the ownership structures and related peculiarities are tremendously...
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How to Work with Zoning Laws in Rhode Island, Massachusetts and Connecticut
In real estate, zoning laws are arguably the most important consideration for any owner seeking to alter or redevelop their property, or any would-be buyer. Want to construct a warehouse for your business? You’ll need to check the zoning regulations. Want to build a new home on a vacant lot? You’ll...
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Understanding Property Insurance in Rhode Island, Massachusetts and Connecticut
In autumn, tourists from across the world flock to New England to witness the breathtaking foliage – red, orange, yellow and green leaves set fire to the forest and create one of the most spectacular sightseeing opportunities. This period transitions from the warm and enticing summer to a much harsher and colder...
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Understanding the Difference Between a Share Sale and an Asset Sale
There is more than one way to buy or sell a business or transact in real estate. When transacting, there are two options: share sales and asset sales. An experienced business and real estate attorney can help you determine whether a share or asset sale is most appropriate, and can help...
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Actual Cash Value and Replacement Costs in Homeowners’ Insurance Claims
Homeowners’ insurance protects you from the unexpected. It’s not meant to be a windfall if a covered event occurs; rather, insurance makes you whole by compensating you for the loss. In exchange for timely paying your insurance premiums, your insurer agrees to pay out lump sum amounts to compensate you for...
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Water Damage Insurance Claims
Most homeowners, business owners and property investors will inevitably have to file a water damage claim with their insurer. The harsh winters in Rhode Island, Massachusetts and Connecticut ensure that frozen pipes are front of mind while heavy rains and violent storms are quick to identify a leaky roof or window....
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Considerations for Starting a Real Estate Holding Company
For most real estate investors, or those considering investing in real estate, the question inevitably rises: should I hold the property myself or hold it in a real estate holding company? The answer to this is dependent on your situation, although the majority of real estate investors err on the side of...
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Judicial vs. Nonjudicial Foreclosures
Whether a borrower or lender, questions on foreclosure will inevitably arise. As a lender, mortgage foreclosure is most often the “second way out” – the manner of getting repaid if the borrower fails to continue to make scheduled repayments. Although the practical outcome of judicial and nonjudicial foreclosures are generally...
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Insurers and Small Businesses Across the U.S. Have a COVID-19 Coverage Problem, and Lawsuits Are Not the Solution They Need
By Kayla S. O’Connor, Esq.
Insurance Litigation Attorney at PALUMBO LAW
April 30, 2020—You might have heard the phrase “business interruption coverage” in the news lately, as small businesses all over the country have been ordered to close (or at least seriously cut back operations) due to the current COVID-19...
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