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...
Insurers and Small Businesses Across the U.S. Have a COVID-19 Coverage Problem, and Lawsuits Are Not the Solution They Need Continue reading…
Understanding the Responsibilities of a Condominium’s Board of Directors
The board of directors is the heart of any condominium building. To ensure a well-functioning condominium board of directors, the directors must have a clear understanding of their responsibilities. The board of directors is composed of local residents in the condominium building and includes the following roles: president, vice president, secretary, and...
Understanding the Responsibilities of a Condominium’s Board of Directors Continue reading…What Is a Typical Trust?
PALUMBO LAW attorneys are compassionate, understanding, and experienced in litigating and resolving complex and multi-faceted trust, probate and estate disputes, which often may arise among family members, and involve personal and emotional factors. Whether our attorneys are assisting clients with disputes that may arise among co-trustees, beneficiaries and/or expected beneficiaries of...
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Common Reasons for an Insurance Claim Denial
Dealing with a denied insurance claim can be overwhelming, especially when you’re relying on coverage for unexpected costs. Whether it’s a homeowner’s, health, or auto policy, you deserve a fair review of your claim. With over 40 years of experience in the insurance industry, including restoration and claims adjusting, we’ve witnessed the...
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What is a Real Estate Closing?
A real estate closing is the final execution and exchange of documents to complete the buying and selling of real estate, whether commercial or residential. The real estate closing is like a well-oiled machine: many different, individual parts come together for a seamless function, but if one part of the machine...
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What Is House Hacking?
Are you an aspiring real estate investor in Rhode Island, Massachusetts, or Connecticut? If so, you’ve probably come across the term “house hacking”, but may not understand what it is or why people do it. House hacking is acquiring a property to live in while renting out other rooms or units to...
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Three Common Construction Contracts
If you’re investing in real estate or are otherwise involved in real estate development, you will quickly find that construction contracts are often extremely complex. Who is liable for cost overruns? Who benefits if actual costs are lower than budgeted costs? The answers to many of these questions are resolved in...
Three Common Construction Contracts Continue reading…