Why Do I Need An Attorney To Draft My Residential Rental Lease?

It’s a common practice for residential landlords to use a boilerplate lease as a contract between them and their tenants. These generic forms are readily and cheaply available online, and most of them do cover the minimum requirements for a legal lease agreement. Unfortunately, they often fail to cover some specific points that can provide much more precise terms and better legal protection for property owners, while observing the rights of the tenants under state law.

Are The Terms Of Your Lease Enforceable?

Typically, landlords want to make a lease agreement that favors protecting their own interests, but not every term you include in such a contract is legally enforceable. For example, you may be allowed to specify fees for late payment, but they have to be kept within what courts consider to be reasonable limits. Having an experienced real estate attorney draft your residential lease ensures that your terms are within Florida’s legal limits, while providing you with the best protection possible.

Does Your Lease Cover The Specific Circumstances? 

Generic lease forms are designed to cover the most common conditions encountered in leasing a home to tenants. Every tenancy and every property is unique, and it’s in your best interest as a landlord to make a lease agreement that covers issues that may arise with each specific property and tenant. For example, if you’re leasing out a home with solar panels, which are not typically mentioned in a generic lease, whose responsibility is it to keep them clean and maintained? What if the tenants plan to bring their own aboveground hot tub? Does the lease specify that they’re responsible for any damage to the electrical or plumbing systems, or due to leaking water from their hot tub?

Use A Residential Lease That Covers Your Assets 

The real estate lawyers at Overstreet Law, P.A. are thoroughly knowledgeable in Florida landlord/tenant law, and they can help you draft a residential lease that is the right fit for your property and tenant situation. Give us a call or contact us online to schedule a consultation and review of your residential lease, and we’ll work with you to effectively protect your rights and property.

/by

Intercambio de mandos en la Cámara de Comercio del Condado Kissimmee/ Osceola

Condado Osceola, FL – Este mes marca el final del mandato de Tim Finkenbinder como presidente de la Junta de la Cámara de Comercio del Condado Kissimmee/Osceola. Él ha hecho un trabajo sobresaliente para convertir a la organización en una de las organizaciones de servicios y defensa empresarial más reconocidas de la región. Tim Finkenbinder es socio de la firma de abogados Overstreet Law, P.A. John Newstreet, presidente/CEO de la Cámara de Comercio del Condado Kissimmee/ Osceola, afirma: “Nos gustaría aprovechar esta oportunidad para agradecer a Tim Finkenbinder por su arduo trabajo y compromiso en la construcción y el crecimiento de la Cámara a lo que es hoy. Durante el último año, su administración en la Cámara se ha caracterizado por ideas innovadoras, pensamiento estratégico y, lo más valioso, sus esfuerzos incansables”. La Junta de Directores de la Cámara de Comercio del Condado de Kissimmee/Osceola eligió a Rob Rosen de Edward Jones como el presidente de la Junta en 2019. El talento, la pasión y el liderazgo de Rob servirán bien a la comunidad empresarial en el nuevo año. “Estamos encantados de dar la bienvenida a Rob Rosen como nuestro presidente en 2019 y estamos convencidos de que hará una contribución significativa al desarrollo futuro y al crecimiento de nuestra Cámara”, dijo John Newstreet. Al servicio del condado Osceola desde 1924, la Cámara de Comercio del condado Kissimmee/ Osceola es una asociación de empresarios cuya prioridad es mejorar el negocio y la comunidad residencial, al mismo tiempo que mejora y hace que su negocio sea más rentable.

El Osceola Star . December 21 – 03 January , 2018.

/by

An Overview Of L-1 Visas And Who Qualifies For Them

The L-1 Visa makes it possible for international companies to move key employees like managers, executives, and professionals with specialized knowledge to offices or facilities in the U.S. There are two types of L-1 Visas available depending upon the scope and requirements of the employee’s work. The criteria for each type are exacting and somewhat complicated. Making a successful application for an L-1 Visa depends largely on a strong demonstration that the job in question requires an executive, manager or specialized knowledge employee and, further, that the foreign employee your company is seeking to transfer has the requisite qualifications to serve in the position.

L-1A Visas For Managers And Executives

Under immigration law, an applicant for an L-1A Visa must be primarily engaged in a managerial role in the company. This includes supervising and directing the work of professionals, supervisors, or other managers, and having the authority to hire, fire, grant promotions, authorize leaves of absence or have the power to recommend such actions. Holding the title of manager, especially with front-line management duties, is not enough to qualify; the employees under supervision must be professionals, supervisors, or managers, not “rank and file” employees. L-1A Visas are granted in increments of 2 or 3 years and can be renewed up to 7 years total. 

L-1B Visas For Professionals With Specialized Knowledge 

The legal definition of “specialized knowledge” for immigration purposes is somewhat different from what is commonly understood as specialized. To apply for an L-1B Visa, a foreign employee must have knowledge that cannot easily be transferred to another person without significant economic impact to the employer. Further, it must be demonstrated that the job requires this knowledge. A successful L-1B application will demonstrate that an employee’s expertise goes beyond that of their peers. For example, advanced knowledge of proprietary systems or unique methodologies used by the company. L-1B Visas are issued in or 2 or 3 year increments and can be valid for a total of 5 years.

Get Experienced Legal Help With L-1 Visas 

The application process for L-1 Visas can be intimidating, and presenting the strongest possible case for an L-1A or L-1B Visa takes experience. Call the immigration attorneys at Overstreet, Miles, Cumbie & Finkenbinder for a consultation, and we’ll explain how we can help your company make the best legal arguments possible in L-1 Visa applications for your employees.

/by

Why You Shouldn’t Add Someone’s Name To The Property Deed

Sometimes, homeowners want to consider the idea of adding a family member or someone else to the title deed of their property. Often, this notion is based on the idea that making that person an owner of the property now will help make succession easier later on. While that may be true in some cases, there are significant risks and liabilities associated with adding someone’s name to your property deed.

Potential Loss Or Reduction Of Homestead Exemption 

The Florida State Constitution, Article X, Section 4, exempts properly designated homestead property from forced sale under process of any court. This exemption was created to prevent people from losing the homes they live in to creditors and allows homestead property to be transferred to your spouse and/or children free from creditor claims upon your death. If the person you add to the deed for your primary residence does not live there (for example, an adult child), your homestead exemption is reduced by half, because there are now two owners, but only one of them resides in the house. Adding a non-resident to the title weakens your Homestead Exemption protection.

Financing & Tax Issues

 If your home is mortgaged or you’re using a HELOC (Home Equity Line Of Credit), you may discover that it violates the terms of that mortgage or HELOC to transfer interest in the home to another person by adding them to the property deed. Even in cases where the lender allows such a transfer, you may owe money for new documentary stamps. If you later want to sell or refinance the house, you will need signatures from every person named on the property deed. If your co-owners don’t agree to the sale or refinance, you’re either going to be stuck, or facing the prospect of taking them to court. Finally, it is likely that the person you add to the property deed will ultimately pay more income tax when the property is sold after you are deceased because they lose the stepped-up tax basis they would have had if they’d inherited the property through probate or a trust.

Potential Liability

When you add someone to the property deed of your home, the home becomes that person’s asset, in addition to being yours. That means that if your new co-owner files bankruptcy or has a judgment filed against them by a creditor, the house is an asset that can be encumbered by their creditors, despite the fact that it’s your primary residence.

Keep Your Homestead Exemption Protection Intact

The relative simplicity of adding your heir’s name to the property deed for your home may seem appealing, but for most people, it’s not the best solution. The real estate attorneys at Overstreet Law, P.A. can help you find the option that best protects you and your assets now, and eases the cost and hassle of succession for your heir later on. Call us or contact us online for a consultation, and learn more about your options.

/by