FHA Condo Certification
In order to buy a condo unit with an FHA loan, it is required that the whole condominium is FHA certified by the Federal Housing Administration. Being able to accept an FHA backed loan will allow for more people to be able to purchase a condo from a building. With low down payment requirements,...
FHA Condo Certification Continue reading…What is the Difference Between a Commercial Lease and a License to Occupy Business Space?
When one party agrees to let another party use its business space, they must agree on the terms of use, the fee, the term and how the occupancy will come to an end. This is referred to as a license to occupy space, which is different from a commercial lease. A commercial lease is...
What is the Difference Between a Commercial Lease and a License to Occupy Business Space? Continue reading…What is Title Insurance?
A new home is often the biggest financial investment for many individuals and families. With the down payment and all the costs of closing on a home, a buyer may seek to cut costs, however, title insurance is not the place to do this. Most consumers are familiar with health insurance and car insurance,...
What is Title Insurance? Continue reading…What You Should Know About A Brokerage Agreement Before You Sell Your House
When engaging a realtor to list a home, the realtor will ask a seller to sign a listing agreement which will detail the broker arrangement and the terms of paying the commission. You should consult an experienced real estate attorney before you sign a brokerage agreement
Key Terms of a Real Estate Brokerage Agreement
A brokerage...
What You Should Know About A Brokerage Agreement Before You Sell Your House Continue reading…What You Should Know About a Brokerage Agreement for the Lease of Commercial Space
A landlord and a broker typically enter into a brokerage agreement in connection with the leasing of commercial space. The best way to protect your interests is to consult an experienced real estate attorney before signing such an agreement.
Key Terms of a Commercial Lease Broker Agreement
A broker who finds a tenant for a landlord...
What You Should Know About a Brokerage Agreement for the Lease of Commercial Space Continue reading…What You Should Know Before You SIgn a Co-Working Space Agreement
Co-working is a popular, flexible work style for sharing a workspace and reducing overhead costs for the users. Users can choose an unassigned seat at a desk or a more formal private office setting. Co-working is on the rise in many industries but special care and concern should be noted for professions such as...
What You Should Know Before You SIgn a Co-Working Space Agreement Continue reading…Why Does a Tenant Need to List “Additional Insureds” on its Insurance Policy for Leased Property?
When a landlord and tenant enter into a commercial lease for a retail store or office space, the lease will likely contain a long insurance provision as well as an indemnity provision. An indemnity is a promise whereby one party promises to indemnify (or compensate) the other against some anticipated loss.
The commercial lease insurance...
Why Does a Tenant Need to List “Additional Insureds” on its Insurance Policy for Leased Property? Continue reading…Why Landlords Want Tenants to Obtain Renter’s Insurance
Residential landlords will often include a provision in the lease requiring the tenant to carry renter’s insurance. Landlords do not want to be sued by tenants for damage to their possessions and want tenants to look to their own coverage. Tenants often balk at an additional cost and mistakenly assume that they are covered...
Why Landlords Want Tenants to Obtain Renter’s Insurance Continue reading…What Happens if I Die in Rhode Island Without a Will?
No one likes to think about dying. It can be an extremely scary and uncomfortable discussion, not to mention it makes us face the reality of our own mortality – something we generally prefer not to do. But while the discussion may prove very uncomfortable for you, the effects of dying in Rhode Island...
What Happens if I Die in Rhode Island Without a Will? Continue reading…What Is A Joint Venture Agreement (“JV”)?
There are several types of business organizations that are recognized by the law as a legal entity. This includes an individual (a natural person or individual proprietorship), corporation, partnership, limited liability partnership, joint venture or any other form of business organization. A joint venture is an agreement between two or more entities to combine...
What Is A Joint Venture Agreement (“JV”)? Continue reading…An Overview of Common Start-Up Costs
Starting a new business is an exciting time. For serial entrepreneurs, starting a new business is often more routine because they have developed a system from their prior ventures. For those who are just diving into entrepreneurship, understanding how to handle the early stages of the business, such as start-up costs, won’t be so...
An Overview of Common Start-Up Costs Continue reading…Rhode Island Intestacy Laws: When You Die Without a Will
If you die without having a valid will in place, this is referred to as dying intestate. Instead of having your wishes as to how you want your estate divided amongst your loved ones, your assets will be distributed according to state intestacy laws. Unfortunately, many people neglect to or put off the
Rhode Island Intestacy Laws: When You Die Without a Will Continue reading…