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03 Sep, 2021
What Shall I Do with My Real Estate When I'm Getting Divorced? When two people get married, they begin a marital property regime where all assets of the marriage belong. This can include financial accounts, real estate, and other properties that were purchased during the marriage or have, by law, become marital when the marriage was instituted. In a divorce, these martial assets, of course, have to be divided among the spouses. But it doesn’t always happen to be a 50/50 division. A lot of things come into play when determining how these are divided and which assets each spouse gets. It gets particularly complicated when it comes to real estate, which forms the largest part of marital properties to divide. The Most Important Thing to Do With Your Assets During a Divorce In a divorce, knowing and understanding the assets that a person has is crucial to protect their rights and ensure that they get what they are entitled to. When getting divorced, the most important thing to do in relation to assets and properties is to create a comprehensive list of all financial accounts, as well as real estate owned. With a clear view of all these properties, an attorney can assist in determining which of those belong to the marital property and which ones are solely owned by one spouse. How this is determined will depend on a variety of factors, such as: How the property is titled When the property was acquired How the property is being paid for The source of mortgage payments, etc. All these matters in identifying whether certain properties are premarital or included in the marital estate. And if certain real estate is solely owned by one spouse, they get the benefit of not having that asset divided. Speak to an Attorney When Dealing With Real Estate During a Divorce Financial matters are always sensitive and complex, especially when coupled with a divorce. Often, it would involve heated conversations between ex-spouses. An attorney experienced with real estate and divorce can help navigate the complexities, defend their clients’ rights, and obtain what they are entitled to.
03 Sep, 2021
Should You Defend Your Mortgage Foreclosure While You're Going Through Divorce? A divorce case is more than just a process for the dissolution of marriage. Sure, it discusses the details about the union, such as its validity, the reason for the separation, among other things. But more importantly, divorce cases also cover essential aspects such as child support and custody, as well as the division of marital assets. With regard to the latter, financial accounts are going to be brought to light and examined. Everything co-owned by the spouses, salaries and pensions that are considered marital property, businesses that they started, the assets that they bought during the marriage, will be valued and divided upon divorce. Real Estate Assets in Divorce One of the largest properties that spouses have is real estate. Whether it be their home, an investment property, or a homestead, these assets will be put under scrutiny during a divorce. Hence, it’s important that during the process, both parties understand their assets and what they are entitled to. This helps them protect their interests and ensure that the division is fair and correct. This is true even in cases of mortgage foreclosure. You Should Always Defend Yourself in Mortgage Foreclosure It’s very important that individuals, regardless if they're getting divorced or not, defend themselves in mortgage foreclosures. Real estate is worth a lot of money, and several people can easily lose their high-value properties because they didn’t defend themselves. Banks have the tendency of taking advantage of homeowners because they have corporate attorneys and the law can easily be interpreted for their benefit. However, individuals can protect themselves by engaging competent legal counsel. An experienced attorney knows how family law and foreclosure work together and can create a solid defense that helps individuals protect their assets in a divorce. They put banks on the defensive and can beat foreclosures and have them dismissed.
03 Sep, 2021
Can a Lawyer Help You Adopt a Child in the State of Florida? There are over 19,000 children in foster care in Florida, some temporarily and others permanently. Consequently, there are a handful of families looking to adopt these children and give them a better home. Adoption is a legal process, which means that there are certain qualifications required of adopters, a legal procedure that must be undertaken, and factors that need to be met. Factors Courts Consider in Adoption The number one priority of courts when it comes to adoption is to make sure that they place the children in a safe environment and with a family that serves the child’s best interests. To help them make that decision, they’re going to be looking at both parents’: Jobs and work Life stability Sources of income Other children Ability to provide a stable, nurturing environment for the adoptee These are things that the court considers, regardless of whether the parents are adopting children they are related to or not. Further, children in foster care who reach a certain age have a say on whether or not they want to be adopted. This is a decision that is also respected by the court. Can a Lawyer Help You Adopt a Child? Because adoption is a complex legal process that involves the court looking into the adopters’ personal lives, it can be overwhelming to go through. A family lawyer with experience in adoption in Florida can provide guidance, help set expectations about the process, assist in filing the required documents, and ultimately, achieve a favorable outcome.
02 Sep, 2021
What is Dependency in the State of Florida? The State of Florida puts great focus on the wellbeing of children, which is why there are state laws and procedures in place that serve the purpose of protecting them. One of these is the process of dependency, where children are temporarily taken by the state in order to remove them from dangerous environments. Dependency in the State of Florida can come into play in many different situations, such as: Abusive households, i.e. physical, mental, or sexual abuse between parents and children Parents with mental issues that require counseling or medication Parents not protecting their children or putting them in a dangerous environment What Happens in Dependency Cases? When the Department of Children and Families (DCF) is called to report any of the above situations that call for dependency, they temporarily take the children and put them in a safe environment. One or both parents may be charged with a dependency hearing where the court will investigate the case and determine if the parents can foster a safe environment for their children. The process can take 3 to 12 months and can sometimes even last years, depending on the complexities of the case. The court takes child safety matters very seriously and will undertake every investigation needed to determine if the child’s wellbeing can be met by the parents. Options of Parents in Dependency Hearings Parents have different courses of action in dependency hearings, depending on their priorities. If they want to get their children back, the best thing to do is to speak to an attorney experienced in dependency. A lawyer can help them navigate the hearing, and most importantly, protect their rights and ensure that they are allowed due process. Parents also have the option to give up their children to the state, if they know that they won’t be able to provide a safe environment for their child, can’t be their parent legally, or are physically or mentally incapable of taking care of them. This is done by terminating their parental rights. They can also engage their relatives or trusted friends to see if anyone wants to adopt their children. Regardless of the parents’ decision, dependency is a sensitive and complex area of law that they need guidance on. Speaking to an experienced attorney can give them good counsel and create a strategy that will benefit both the parents and the children.
02 Sep, 2021
What is an IRS Tax Deed Sale? Purchasing real estate is one of the biggest investments that people make in their lives, considering the cost of acquiring properties, as well as the associated property taxes. The latter can form a huge bulk of expenses, which buyers need to pay to stay out of debt and avoid foreclosure. Property taxes can be paid off through an IRS tax deed sale, which is a recommended way of acquiring property. IRS Tax Deed Sale An IRS tax deed sale is a form of contract that states that the property is going to be sold off to another party and the proceeds of which will be used to pay off unpaid property taxes. When acquiring property under an IRS tax deed sale, the individual will usually be given two years to pay what is owed. It’s an advantageous process because it removes most of the mortgage liens on a property. What Happens if You Don’t Pay Tax Certificates If a person does not pay the property taxes that are owed, a tax deed certificate will be issued, which gives them a certain amount of time to redeem the certificate and settle payments. The owner of the certificate will get paid interest on the debt that is owed. If they do not make payments for another year and the tax certificate is not settled, the unpaid property taxes, plus interest, will be added to their debt. After two years of non-payment of tax certificates, they will get a notice of a tax deed sale and the property can be sold. Although they are not required to do so, there are instances when banks can pay the tax certificate if the debtor has a mortgage on the property. If the tax deed sale goes through, most mortgage liens are wiped off the property. This, however, does not include every single lien, and may not cover water bills, banks, associations, FPL, or county violations. Engage a Lawyer When Acquiring an IRS Tax Deed Sale  An IRS tax deed sale can be a very complex area of law. There’s the risk of losing the property if tax payments are not made, or the process becomes riddled with mistakes. When acquiring an IRS tax deed sale, whether as an individual, as a spouse, or during a divorce, it’s highly advisable to engage good counsel who has the experience needed to provide guidance through the process.
02 Sep, 2021
What Happens If I Do Modification of My Mortgage? A mortgage is one of the heaviest expenses that individuals have, which is why it’s so common to fall behind on mortgage payments. But there is a way that they can change the terms of their mortgage in a manner that’s beneficial for them and make it easier to stay current and build equity. This process is referred to as modification. What is a Modification? A modification is a process of altering the contract of an original mortgage. Through it, an individual can change the terms that were agreed upon when they purchased the property, either extending or shortening the mortgage period, getting a principal reduction, or reducing the interest rate, among others. Banks can grant mortgage modifications to anyone, whether they are current on their payments, behind on their mortgage, or in forbearance. They have allocated extra funds to use for this purpose, and sometimes even give equity. How Do You Benefit From a Modification? There are many things that individuals can do with a good modification, such as: Change the period of the original mortgage Reduce the interest rate Reinstate a loan Ask for a payoff Refinance And more The bank is the ultimate entity that decides what they can offer an individual, based on their unique situations. But with a good offer, a modification can significantly be of benefit. There is also the choice of accepting the modification or not. If an individual decides not to accept the modification, they can reject it and stay on the original terms of the mortgage. It’s important to speak to a lawyer to help identify which modifications are worth accepting. Two Important Things to Know About Modifications Not everyone can qualify for a modification, and it’s important that individuals know if they are eligible in order not to waste time and money going through the lengthy process only to get denied. In order to obtain a modification, a person must: Have enough income to qualify Be able to make three trial payments It’s only when these two requirements are met that a permanent modification will go through. Modifications in a Divorce All financial accounts and assets that belong to the marital property will matter in a divorce proceeding — including modifications. There are specific factors that go into modifications in a divorce, such as who the borrower is and whether it should be part of the marital settlement agreement. It’s a unique situation that requires the knowledge of a skilled lawyer. An attorney can provide feedback on what should be done as modifications are concerned in relation to a divorce. How a Lawyer Can Help You With Modification Lawyers can assist their clients in getting good modifications. While it is the bank that decides on the terms, lawyers can set the client’s perspective and give them an idea of what they can expect. They can also advise on whether or not an offer is worth accepting, as well as provide guidance on unique situations, such as modifications during a divorce.
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