Did you know that in addition to municipal zoning codes, binding restrictions on the uses and operations of a business location could exist in Deed and Platt restrictions, environmental laws and regulations and, regulations affecting the license to operate at that location.
There are many rental issues which can cause significant, expensive problems for a business if not properly investigated, negotiated and documented in the lease by management before the lease is signed. For example, the Lease might prohibit the tenant/lessee from assigning the Lease or subletting to a person who is not known to and approved by the landlord/lessor.
Did you know that there are several steps to obtain a good “marketable” title to real property? Before the deed is officially recorded with the appropriate agency, one of several steps is to have a title insurance company insure the buyer against losses caused by a claim against the buyer’s title after closing, subject to potential possible claims that are listed as excluded from coverage.
As a new owner/operator of real property, you can avoid liability for existing pollution on the premises by establishing that you are an innocent landowner through documentation that you performed All Appropriate Inquiry before becoming the owner/operator and that the result of the due diligence did not reveal the pollution.
A number of events should trigger a review and possible update of your existing Estate Plan. These events can include; An inter-state move, a death or incompetency of an adult child, who has children of their own, the engagement to be married of a single-parent and, Divorce.
Did you know that almost any, competent, adult can make a valid will. No matter how competent they may be, a minor may NOT make a valid will.
A funded Living Trust has many advantages. It helps avoid probate of the estate of the maker of the Living Trust. It allows the family to keep the estate private at the death of the maker of the Living Trust. Finally, it can help avoid the appointment of a Probate Court guardian over the financial estate of an incompetent maker of the Living Trust.
In some partnerships, ownership of the partnership interest is transferable without the permission of the other owners, unless there is a written agreement restricting transfer. Similarly, both a C-Corporation and S-Corporation can allow an authorized officer to transfer ownership of assets without the written permission of the shareholders.
In a Limited Partnership, only the General Partners have the legal authority to make most of the partnership management decisions.
Did you know that not every legal entity requires State registration for formation? A General Partnership does not require registration in order to be a legal entity--although registration with the Secretary of State is highly recommended..
With a typical exclusive listing arrangement with a real estate broker, the broker is the only agent entitled to a commission from the seller if the broker finds a qualified buyer. Did you know, however, that the broker is also entitled to a commission, even if the seller finds the buyer without the broker's aid, unless the issue of when a commission is owed is negotiated in the listing agreement?
Did you know that an Ohio Corporation without Federal Subchapter S Status (a C-Corporation) is subject to double taxation at the sale of all, or substantially all, of the business assets as part of a liquidation of the business?