Probate costs are affected by outstanding debts, legal representation fees, valuation fees, and court costs. The process involves interpreting and implementing a deceased individual’s will, accounting for all debts and taxes, and distributing the estate to heirs. Attorney fees can greatly impact the cost, and court fees may be a percentage or flat rate. A […]
Property easements allow entities to use land for specific purposes without granting tenure rights. Examples include right of way and access to water sources for farmers. Easements may be attached to other properties and can arise from extensive use. Cancelling an easement is difficult and may be prohibited. Buyers should be aware of easements included […]
Real estate agents negotiate transactions for buyers and sellers. To become an agent trainee, one needs a degree related to real estate, sales or business, and experience in sales or customer service. Trainees fill out paperwork and use office equipment. Experienced individuals from related industries may also be recruited. Real estate agents organize transactions involving […]
Real estate liability is a concern for brokers, agents, and property owners. Insurance and waivers can protect against liability issues, but legal advice is necessary for accurate information. Real estate liability is the legal liability associated with the use, sale and purchase of real estate. It’s a concern for brokers and agents involved in real […]
Contingent ownership is a type of future interest in land that only comes into effect if a certain condition occurs. It grants a conditional interest fee on the land, which can be sold or transferred. Contingent properties were once not alienable but are now freely alienable in most US jurisdictions and the UK. In the […]
The best source for real estate law advice is a local attorney. Generic resources like books and online forums can be helpful, but may be outdated or too general. Real estate laws vary by jurisdiction, making personalized professional advice necessary for complicated scenarios. Online sources should be carefully vetted. Real estate attorneys are licensed to […]
A real estate law firm is a group of legal professionals who specialize in real estate matters, such as tenant eviction and property line disputes. They can serve a diverse client base, including real estate investors, developers, and owners. These firms may limit their activity to residential or commercial cases and may operate internationally. They […]
An estate administrator manages the affairs of someone who dies without a will, paying creditors, finding heirs, and distributing assets. They may need court permission and may have to post a bond. The process involves hiring professionals, identifying assets and debts, and compensating creditors before distributing assets to heirs. An estate administrator is the person […]
Commercial real estate law governs real estate and commercial transactions, including construction, leasing, and investment. It differs from residential real estate law in that it lacks many consumer protections. Commercial transactions involve more money and complexity, and parties have a higher level of commercial experience. Construction and leasing are the main areas of focus, but […]
Real estate broker tools include websites, advertising, social networking sites, and virtual reality to reach potential clients and showcase properties. Virtual reality is increasingly used for visual presentations and virtual tours. Websites act as a source of information and payment gateway, while networking sites gather information about potential properties and customers. Real estate broker tools […]
Real estate broker associations offer ethical standards and benefits to clients and members. Some associations limit commissions and abide by a code of ethics. Brokers may join to attract clients and lobby for broker-friendly laws. Associations may also be based on property type, cultural background, or religious beliefs. Real estate brokers are sales professionals who […]
A commercial real estate attorney handles transactions related to commercial properties, advising clients on real estate transactions, negotiating lease agreements, and conducting title opinions. They may work for commercial real estate firms or be hired as general counsel by large developers. They also represent clients in litigation and must stay informed about applicable laws and […]
To choose the best real estate business ideas, consider your skills and qualifications, network with local professionals, take courses, read books, and hire a consultant to help prepare for marketing or planning a business. A real estate business is any type of business dependent on the purchases and sales of property or investment property. To […]
When someone dies, their assets and debts make up their estate, which must go through probate before being distributed to heirs or beneficiaries. Treatment of estates varies worldwide based on legal, religious, and cultural factors. Executors or personal representatives inventory the estate, pay debts, and transfer ownership to beneficiaries or heirs. When a person dies, […]
Estate accounting involves managing and distributing a deceased person’s property according to their will. It includes preparing tax returns for the deceased and advising beneficiaries on their own taxes. Estate planning can help ensure a smooth process. The executor must keep accurate records and avoid incurring unreasonable expenses. Estate accounting is accounting that is concerned […]
Real estate fraud occurs when a borrower misrepresents information to obtain a loan they are not entitled to. This can include altering pay stubs or obtaining false letters of credit. More complex forms include illegal flipping of properties and fake appraisals. Lenders conduct investigations to reduce the risk of fraud and the public should report […]
An asset trust is a legal entity created to manage and protect a person’s assets for the benefit of their beneficiaries. It shields assets from lawsuits, creditors, and irresponsible beneficiaries. The trust owns the assets, making them immune from creditors and lawsuits. The beneficiary can receive income and start a business without losing the trust […]
Real estate industry analysis examines factors impacting the sector, including supply and demand, availability of financing, and ease of entry for newcomers. Balanced supply and demand is key to sustained growth. A real estate industry analysis is simply a comprehensive study of the various factors and trends in the real estate industry that could impact […]
Before creating a real estate brokerage business plan, conduct market research and expense planning. Include a mission statement, target market, services, competitors, and financial projections. Market research should include the target market’s income, education level, and lifestyle preferences. Differentiate your brokerage from competitors and include a SWOT analysis. Financial projections should include sales volume, operating […]
QR codes are being used in the real estate industry for advertising and to provide more information about properties. They can be used on signs, flyers, and business cards to direct people to websites and social media pages. QR codes are becoming increasingly popular in the industry and have potential for future advertising opportunities. Many […]
