Title Attorney in Aventura

There are several law firms in Aventura that handle various areas of legal topics. If you are in need of legal advice from an Aventura attorney or law firm you can contact attorney Richard Becker by filling out the simple contact form. You will be contacted to discuss your legal needs.This post is related to the work typically handled by an attorney or title company in Aventura.

Richard Becker, Esq.
Richard Barak Becker, LLC
Phone: 305-508-7202
email:Richard@barakbecker.com

I will be discussing various areas of law on this blog, see a full list of legal topics at the end of this article. The first area of discussion will be areas of real estate and title law. If you are in search of a local attorney or real estate title company in Aventura, fill out the contact form above. Here’s an overview of an attorney’s role in a real estate closing.

ROLES OF A REAL ESTATE ATTORNEY AT CLOSING

Real estate law encompasses a wide range of areas relating to acquiring, financing, developing, managing, constructing, leasing and selling residential and commercial property. I’ve been asked to provide a brief and general synopsis for some of the roles of a real estate attorney at a closing.

As many homeowners know, during a real estate closing, the buyer and seller are brought together, the significant documents are signed and payment is made. While this may seem like a relatively simple process, conducting a real estate closing is, in fact, a complicated matter. Accordingly, many buyers and sellers often turn to lawyers for assistance in making the closing process as stress free as possible.

The complex phases of a real estate closing include examination of title, completion and explanation of legal documents, and the resolution of possible title difficulties. Real estate closing attorneys conduct the steps by examining title records for prior conveyances, unpaid mortgages, liens, judgments, easements, and other encumbrances or clouds on title. They confirm the seller has the authority to convey good title and that no errors exist in the chain of title. They negotiate with title insurance companies for insurance coverage to insure titles against any adverse claims of ownership, liens, and easements. Next, they combine this information into one set of closing documents which are explained to the buyer and seller in a simple manner so the parties understand the issues involved in the transaction. These issues include the terms of the sales contract, the findings and analysis of the title search, significance of the title search, the quality of title, the extent of risks, the obligation to close or not to close, and the process of closing itself.

Finally, at the end of the closing, the attorneys disburse the funds, record the relevant documents as public records, and prepare title insurance policies for the purchaser and lender. While not all states require an attorney at closings, I have always recommended their use since a qualified real estate attorney can save you from costly mistakes, such errors in documents or figures, which could result in litigation or other expensive legal action in the future.

Disclosure: Although this article provides legal information, it is not and should not be considered legal advice. This article has been provided solely as an educational tool to provide general insight into the law and is not intended as legal advice or a legal opinion. Because specific factual circumstances may alter the manner in which law is applied and/or interpreted, we strongly recommend that you consult with an attorney to be certain that your interpretation of the legal information provided is appropriate in light of your particular circumstances.

Submitted by: Richard Becker, Esq.



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South Florida Short Sales

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Search recent Short Sales, Foreclosures, and Pre-foreclosures in Aventura click on this link -----> Short Sales, Foreclosures, and Pre-foreclosures in Aventura <----- at the bottom left of that page you can scroll through all available apartment condo short sales. You're likely to find a good deal.



We all know the real estate market in Aventura and South Florida is changing. There have been many questions relating to short sales and preforeclosures, so we asked Richard Becker, an attorney in South Florida, to submit an article regarding this topic. This is what he sent us. Enjoy. If you find this article helpful, pass it on.


Overview of Short Sales and Preforeclosure

The increase in foreclosures throughout South Florida, specifically North Miami Beach and Aventura, combined with the current decrease or deflation of property values, has led to a rise in short sales. A short sale in real estate occurs when a loan against a property is higher than the property’s current market value. For example, if at the height of the market boom in 2005 you purchased a home for $400,000 you probably put 10% down and used an adjustable rate mortgage to finance the remaining $360,000. Now, in 2007, with the recent drop in values, the home is only worth $300,000 and you, as the owner, are upside down on the property. You owe more on the mortgage than the home is worth.

If the rates on your adjustable loan went up in the past few months or you recently experienced some hardship making it impossible for you to keep up with your monthly mortgage payments, you’re in danger of going through a foreclosure. You may have begun missing payments or have already received a Lis Pendens Notice. Unfortunately, many people in this scenario freeze like a deer in headlights and are unable to take action. They ignore the letters and notices and simply allow the foreclosure to happen. They never look at alternative options which may be available, such as negotiating with the lenders to catch up on payments, refinancing the loan, selling the home through a short sale or filing for bankruptcy. Each option has its own benefits. For example, if your hardship is only temporary or you expect to receive a large sum of money in the near future, a negotiation with the lender may be a great alternative for you. If, on the other hand, this is not a viable option, trying to sell the home though a short sale may be the way to go. If the short sale goes through, the lender will agree to sell the home for less than you owe. Going through with the short sale can help you build your credit score back up faster than if you are forced to have a foreclosure on your report. Finally, since there are never any guarantees when it comes to selling a home or being accepted by the bank for a short sale, there is always the option of filing for bankruptcy.

Every scenario is unique and every option can have a variety of ramifications on you and your future. It is strongly recommended that if you are having difficulties making your monthly mortgage payments that you contact a specialist so that you may discuss your options in further detail.

The hiring of a lawyer is an important decision that should not be based solely upon advertisements.

Submitted by:

Richard Becker, Esq.
305-508-7202

After doing some research on this subject, I came across a great clip on YouTube. Take a look...

Real Estate Attorney in Aventura Speaks

It's no secret that the City of Aventura is packed with condos. The real estate in Aventura has developed quickly and is supporting our booming town. Unfortunately with growth, problems arise in various unforeseen areas. There are many real estate law issues that need to be highlighted when a city's economy is based on a real estate market. Ilan A. Nieuchowicz is a real estate attorney in Aventura who has submitted an article titled, The Claim of Lien – A Condominium’s Assessment Collection Tool. Our blog is proud to post the work of Ilan Nieuchowicz, the premier Aventura real estate attorney, as the first featured professional contributing content to benefit Aventura residents. Enjoy his work.

The Claim of Lien – A Condominium’s Assessment Collection Tool

The tightening real estate finance sector and dropping property values have left many real property owners in severe financial distress. These market conditions have resulted in increased financial delinquencies amongst thousands of real property owners, including condominium unit owners who have failed to honor their financial responsibilities to their individual condominium associations.

A condominium, as defined by section 718 of the Florida Statutes, is a “form of ownership of real property created pursuant to [Florida law], which is comprised entirely of units that may be owned by one or more persons, and in which there is, appurtenant to each unit, an undivided share in common elements.”1 Under this system of real property ownership, each and every owner of a condominium unit is unconditionally obligated to pay their portion of the common expenses.2

A unit owner’s failure to pay assessments when they become due has a detrimental effect on the association’s ability to meet its budgeted financial obligations, making it difficult to upkeep and maintain the common elements. As a result, the paying unit owners are often left shouldering the burdens of the nonpaying unit owners. To protect condominium associations from reaching this unjust result, the Florida legislature has enacted laws that provide the associations with tools to collect from unit owners who fail to pay their assessments.3

An important and instrumental tool in condominium assessment collecting is the statutory claim of lien.4 Florida Statutes section 718.116 provides condominium associations with the right to impose a claim of lien on an individual unit owner’s condominium property for failing to pay assessments as they become due. This claim of lien establishes the condominium associations priority against the unit owner’s unit and can be foreclosed upon by the association should the debt remain unpaid.

When a condominium is formed via the recording of its declaration of condominium, the condominium association establishes a lien against each individual condominium unit throughout the property to “secure the payment of assessments.”5 Consequently, a claim of lien reverts back and is effective from the date the original declaration was recorded.6 However, if a first mortgage is recorded against the unit, the association’s lien would be effective as of the date the claim of lien was recorded.7

Florida law outlines the necessary elements a claim of lien must contain to be valid.8 Specifically, the claim of lien must clearly describe the land that makes up the condominium, provide the property owner’s name along with the name and address of the association, and illustrate the amount due and the respective due dates.9 Finally, an authorized agent of the association must sign the claim of lien and the claim of lien must be recorded in the public records.10

Once filed with the county recorder’s office, the claim of lien secures the condominium’s assessments, late charges, interest, costs, and reasonable attorney’s fees relating to the collection of past due assessments.11 Generally, the claim of lien remains effective for 1 year, subject to statutory exceptions which may shorten the condominium’s time to proceed with foreclosure to 90 days12 or which may lengthen the time beyond the year.13 Furthermore, Florida statute imposes a 6-month cap on the amount of assessments that can be collected under certain situations. Accordingly, it is imperative that condominium associations timely assert their rights by filing and, if necessary, foreclose upon a claim lien. Acting quickly to recoup unpaid assessments from delinquent unit owners will keep the condominium strong and will help alleviate the financial burdens placed on paying unit owners.

By: Ilan A. Nieuchowicz, Esq.
Roth, Rousso & Katsman, L.L.P.
18851 N.E. 29th Avenue, Suite 900
Aventura, FL 33180
Phone: (786) 279-0000
Fax: (786) 279-0001
Real Estate Fax: (786) 279-0002
info@rrksatlaw.com

Disclosure: Ilan A. Nieuchowicz, Esq. is an associate attorney with the law firm of Roth, Rousso & Katsman, L.L.P., located in Aventura, Florida. Although this article provides legal information, it is not and should not be considered legal advice. This article has been provided solely as an educational tool to provide general insight into the law and is not intended as legal advice or a legal opinion. Because specific factual circumstances may alter the manner in which law is applied and/or interpreted, we strongly recommend that you consult with an attorney to be certain that your interpretation of the legal information provided is appropriate in light of your particular circumstances.