Why a Lease Option is One of the Appealing Real Estate Investing Secrets
A lease option is usually a last resort for a seller. The market may be bad and nobody is buying real estate. The property may have some quality that makes it difficult to sell or difficult for buyers to get a loan or insurance on. The seller may have had the property on the market for a while and can no longer afford to keep making the mortgage payments, so they decide to go with a lease option. Whatever the reason, most sellers do not immediately choose to use a lease option to sell their homes. This is one reason lease options are one of the real estate investing secrets that is appealing to investors.
A Seller That Is Motivated
One of the best situations an investor can be in is when a seller is more than ready to sell. In the case of a lease option the seller is ready to move this property. This means you, the investor, have the advantage. The seller is likely to agree any terms you have or things you would like to change about the lease option contract. You will find negotiations are not as difficult as they can be with a typical real estate transaction. Remember the seller is often in a situation where they need to move this property. Take advantage of that and get a contract that works perfectly for you.
Minimal Risk
A lease option is not nearly as risky as other investment opportunities. You will have to put money down, but if you can get a renter moved in, you won’t be paying the lease payment each month as your renter will. Additionally, you have not bought the property yet. Should you discover that there is a major structural flaw or if the market is horrible when your contract ends you can walk away and you are only out the initial investment you made on the property.
A Chance to Invest
For many investors, this is one of the best real estate investing secrets. In fact it is the only option they have for investing. New investors may not have the ability to get a mortgage to buy a property upfront or they may not have the cash on hand to buy a property. A lease option gives you a chance to start a career in real estate investing even if you are not rolling dough nor have amazing credit. With this type of option you won’t need a huge amount of money upfront. You can close the deal for a small amount of money that is much easier to get than the full property price. You also have time to fix up the property so you can sell it later since you will have to wait through the contract term until you can make the purchase. You have time to do repairs and gather the necessary funding to make the purchase once your lease option is up.
A lease option may not be the right choice for every investor. In fact, some investors really despise them. For many investors, though, a lease option is the perfect way for them to make a nice profit or even get started in real estate investing. And there you have it; one of the valuable real estate investing secrets.
Published by: admin on July 23rd, 2010 | Filed under Investing
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What is the Contaminated Land Register?
It’s much better to find out that your new property is on the Contaminated Land Register before settlement, as opposed to after you’ve moved in. Experienced conveyancers know how to check the CLR for their clients; make sure that you work with such a firm to ensure that your property has no nasty surprises.
The Basics About the Contaminated Land Register
As a buyer, you’re going to want to search the CLR to make sure that the property you’re buying isn’t on it. While it may not be a deal-breaker for you if it is, you still need to be informed of this prior to making such a huge investment. You should also know that it is the seller’s responsibility to disclose this information to you.
Indeed, any time a person goes to sell property in Australia, they must inform potential buyers if it is on the CLR. If you enter into a contract with a buyer and find out that the property in question is listed on the CLR, you have the right to terminate the contract. In this case, you simply give the seller written notice about your discovery – and about the fact that you are terminating the contract – and you should be good to go. An experienced conveyancer can help you through this process.
Ideally, the seller of a property will provide you with written notice about the fact that the property is listed on the CLR. As long as you are given such notice, you will not be able to terminate the contract based on this fact. Either way, however, it pays to check the Contaminated Land Register to make sure whether or not the property you’re buying is on it. If you do cancel the contract because the properties listed on it – and you weren’t informed – all of your money has to be refunded to you.
The Trouble with Land on the CLR
Land is placed on the CLR when scientific investigations have proven it to harbour harmful chemicals and other toxic materials. In some cases, those materials must simply be contained within the perimeter of the property; in other cases, the contaminants can be removed. In the latter case, the property can be taken off of the register if it is shown to be completely free of contaminants. If you inadvertently buy land that is on the CLR, you may end up having to pay a lot of money to clean it up – or to contain it. Either way, it’s one unpleasant surprise that you’d undoubtedly like to avoid.
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Published by: admin on July 23rd, 2010 | Filed under Real Estate Law
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Sports Injury Law
Sports are a pastime and are meant to be fun. Minor injuries can occur and are even inevitable in certain sports but serious injury caused by another person is a different story and may be grounds for a lawsuit.
If you have been injured by the actions of another player or a coach or a referee, you should first seek immediate medical attention. Then, depending on your situation, filing a lawsuit may be the appropriate next step for you. It is extremely important that the attorney you choose to handle your case is one who has handled sports injury cases before and is, therefore, familiar with this tricky area of the law.
Was it a contact or non-contact sport?
The general view of the courts is that sports are physical and sometimes dangerous and you are responsible for taking that risk. However, that doesn’t mean another player or coach or referee cannot be held liable if you are seriously injured.
The standard in personal injury cases is negligence – if someone’s negligence causes injury, they are liable. This is still the rule in non-contact sports. An example of a non-contact sport is tennis. If you were injured during a tennis match, then you would sue under a negligence theory – i.e. the player or coach was negligent in some way that caused your injury.
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However, with contact sports, there is the contact sports exception (also known as the contact sports doctrine), which states that a person is only liable if their actions were intentional or willful and wanton. Contact sports include soccer, baseball and basketball. If physical contact is an expected part of the sport, then it qualifies as a contact sport. If you were injured while playing a contact sport and you believe that the injury was caused by another player’s intentional actions, you would sue under the contact sports exception.
Proving it was intentional or willful or wanton
Proving that the defendant acted intentionally or recklessly will depend on the facts and other factors such as whether the action is what is acceptable or routine in that particular sport. For example, brushing into a player as they slide into home base is typical but tripping the player is not. The facts of your case and the range of normal activity in the particular sport you were playing will be used to prove intent.
Was it a full contact sport?
Full contact sports are another exception all their own. For these sports, the standard is intentional or completely beyond normal activity for that particular sport. Full contact sports include football, hockey and boxing, where physical contact is actually an element of the game. So, if you were seriously injured during a football game, you would have to prove that the defendant’s actions were intentional or that the defendant’s actions went completely beyond what is acceptable in that particular sport.
Was it caused by a non-participant?
It is believed that holding non-participants like a coach or a referee accountable for negligence would negatively affect the sport as a whole. Still, the standard is that these non-participants owe a duty to not harm others. Coaches are expected to provide instruction on safety and referees are expected to stop a game when they see a violation. If you believe a coach failed to provide safe instructions or if you believe a referee allowed a violation to continue that led to your injury, you may have grounds for a lawsuit. Again, it will depend on the facts of the case and the expectations of the particular sport.
Was your child hurt playing a sport?
If your child was injured while playing a sport at school or at another facility, the school, team, coach or facility may liable depending on the circumstances. If the playing field or area was not properly maintained, it could be a negligence issue. If, as noted above, the players were not properly supervised or the referees were not calling violations or another player intentionally harmed your child, you could have a case based on the above noted law. Either way, you should speak to an attorney as soon after your child receives medical attention.
Finding the right sports injury attorney?
As with all areas of law, there are time limits to filing your case. You should contact an attorney as soon as possible to review your options.
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Published by: admin on July 23rd, 2010 | Filed under sports injury law
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Partnership Agreement Template – Keeping Everyone on the Same Page
Starting a new business with another person as a partner can seem like a really good idea in the beginning and for many it works very well. However, while things may look rosy in the beginning it is always possible for the partnership to become a little less civil over time. To protect both halves of the business you should use a partnership agreement template to draw up a legally binding contract that ensures that each partner understands exactly where he or she stands.
You will find that there are several different do it yourself kits on the market, especially online that will show you how to create your agreement so that it will stand up in a court of law. One thing to keep in mind when you are looking at these kits is that not all states have the same requirements and you need to make sure that any kit or template you obtain contains information and forms that are specific to the state you plan to establish your partnership in.
The template you choose is likely to have several blank spaces on it for you to fill in with the pertinent information. To start with you and your partner or partners will have to decide on a name for the business and fill in the appropriate space along with the physical address of your new venture. You will all need to agree on a name at the outset as once you have registered the name of your business you may find that changing can be difficult if not impossible in most states.
The most important part of this agreement is the section wherein you and your partners describe the rights, roles and responsibilities of each of the partners. This section of the contract not only covers the role of each partner, it can be used a legal protection in the event of a lawsuit or an attempt to change the rules in mid-stream. Should there be a problem between any of the partners this document can be used by legal counsel to resolve the situation.
You should never enter into a business like this without a contract, using a partnership agreement template can help you to avoid the many problems that seem to pop up between partners that started out as friends and then went into a business together. It offers full legal protection should a minor issue suddenly become one that ends up in court with all partners bringing their own lawyers.
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Published by: admin on July 14th, 2010 | Filed under Regulatory Compliance
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Retain a Personal Injury Lawyer and Keep Your Money
When you have been injured and land in a hospital, whether it was from an auto accident, or a slip and fall, or a medical mistake, there will be a need for a personal injury lawyer. The last thing you need to worry about, in your time of pain, is to run around trying to negotiate a settlement with insurance companies and gathering the needed evidence to pursue a lengthy court case or settlement.
A personal injury attorney will come to you. They will visit you in the hospital or come to your home to get the details of your personal injury lawsuit. They will do this without you having to worry about coming up with a large retainer up front. Typically the attorney will offer an option called contingency fees. That is when the lawyer will not take any pay unless you receive a settlement for your injury.
Since most personal injury lawyers use a contingency fee as payment, you can count on them being honest with you from the start by letting you know whether there is a chance of winning your case or if you are wasting your time and his. They won’t get paid if you don’t get paid. That is a gamble that most professionals will not make. This is a pleasant turn of events because often professionals will demand money up front that would not be refunded if you lose. The attorney has a lot to lose if he cannot get a deal for you. A settlement will depend on many factors, including his expertise in proving and negotiating your losses.
Many car accidents involve extensive injuries that require a long recovery period. The car accident lawyer or personal injury attorney will take on the responsibility of negotiating a fair settlement for medical bills, lost wages, property damage, pain and suffering, rehab and any other expenses that may occur due to your injuries. This is not only a bargain, it is a no brainer. Why wouldn’t anyone want to have a professional handle such an involved task? You will not have to deal with the stress of fighting with the responsible party and their attorney or insurance company to get your just due. Your attorney will do all the work for you and he will do it without a dime out of your pocket until the job is done. This is very important because medical expenses, not to mention loss of work resulting from a car accident or any accident for that matter, can amount to a lot of money.
You have rights and a personal injury lawyer will stand by you to protect you and your rights. They are aware of all your rights and will make sure you are granted every one that you deserve. The fact that you can retain legal help and not have to worry about paying them the minute they walk into your hospital room or your home will be the first and quickest step to your recovery.
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Published by: admin on July 14th, 2010 | Filed under Personal Injuary
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Employment Law Solicitors, the Prime Minister and Equal Pay
35 years after the introduction of equal pay legislation, employment law solicitors are still confronted regularly with cases of women earning less than men for like work. The disparity in earnings is estimated at around 12% for full time workers.
Employment law solicitors and women’s groups have welcomed the announcement of the new Prime Minister, David Cameron this week that he supports part of a Labour law, introduced by Harriet Harman as part of the Equality Act, which may force employers to publish information on whether they pay men more than women.
Equally however, women’s groups and solicitors alike have voiced concerns that the support David Cameron has lent the potential legislation is not enough and that his party may legislate only a watered down version of equality plans.
Mr Cameron has suggested that in cases where employment law solicitors have demonstrated that unfairness is an issue in a firm at an Employment Tribunal, then that firm would be subject to a compulsory gender pay audit. This, it is claimed and hoped, would shame those firms who flout labour laws by paying women less than men as well as encouraging women to demand equal pay.
However, unlike the original plans by Harriet Harman, ministers are not expected to continue with plans for compulsory gender pay audits, except in the above mentioned cases when employment law solicitors have proved inequality.
Overall, the reaction of employment law solicitors and women’s equality groups has been mixed. Many believe that all companies should be made to publish data on gender pay. Many small businesses however, argue that to do so would be a massive burden on them.
Published by: admin on July 14th, 2010 | Filed under Health & Safety
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Are You an Employee?
The legal rights of people who are self-employed are very different from the rights of those who are employed. The self-employed do not have the entitlement not to be unfairly dismissed, to claim redundancy payments or any of the other various entitlements of the Employment Acts which are only given to employees.
It is the employment contract under which the work is carried out which will usually provide the answer. There are three elements which must always be present in any employment contract. All of these must be present or it will not be a contract of employment. They are:
1. there must be an obligation under the contract to provide work personally;
2. it must be possible to show that the relationship between employer and employee contains a mutuality of obligation; and
3. the employee must expressly or impliedly agree to be subject to the control of the employer.
Obligation to Provide Work Personally.
If the contract allows for the work to be carried out by anyone, or by a person to be decided by the worker, it is unlikely to be a contract of employment. There must be a personal obligation by the employee to work personally for the employer if there is to be a contract of employment.
Mutuality of Obligations
The second element that must be present in any employment contract is for both the employer and the employee to have legal obligations to each other. There has to be an obligation on the employer to pay for the work and for the employees to carry it out personally. If there is no obligation for the employee to work and no obligation for the employer to offer work, such as where there are periods in the contract where there is no work to do and a retainer is not paid, there will be no contract of employment.
Control
The third element requires that ultimate authority over the employee is the employer and that the employee is subject to the employer’s orders and directions. This may require careful examination of all the circumstances of the employment but relevant aspects are likely to include:
1. How the person carrying out the work is paid,
2. whether the worker provides his own equipment
3. whether he is subject to the employer’s disciplinary and grievance procedures
4. receipt of sick pay or contractual holiday pay
5. provision of benefits traditionally associated with employment such as pension or health plans
6. whether there are restrictions on working for others
Some contracts stipulate that workers are not employees and are self-employed. However such clauses are not by themselves decisive. Courts will look at all of the circumstances of a relationship to determine its true nature and will readily go behind what the parties have labelled a relationship to be. Labels will only be decisive to “tip the scales”, when all other factors relevant to deciding one way or another are evenly balanced.
A court in determining whether an employment contract exists may have reference to:
1. the person paying income tax and national insurance;
2. whether there is an entitlement to holiday pay;
3. the custom and practice in the particular industry;
4. whether the person is in a position to provide a substitute.
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Published by: admin on July 14th, 2010 | Filed under Ask an expert
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Personal Injury Laws – Electrical Burn Injuries
Electrical injuries can occur in a variety of settings. Adults often suffer from electrical injuries as a result of workplace accidents, whereas children often suffer these injuries in the home. Electrical injuries can range from mild to severe and life-threatening, and complications may be readily apparent or late in developing.
It is estimated that electrical injuries cause 500 to 1,000 deaths per year in the U.S.; 3 to 5% of admissions to burn units are a result of electrical injuries. Electrical injuries are the fifth leading cause of death among workers. Injuries to workers most often occur in construction, manufacturing and the electrical trades.
Electrical burns are common following an electrical injury. These types of injuries are dependent upon several factors, such as the amount of energy (voltage) involved, the direction of the current, the type of current, and the duration of time that the victim is in contact with electrical energy:
• Direct contact burns- electrical energy passing through the tissue will cause damage to the skin surface, as well as to the tissue below, depending on the factors above. Generally, there will be damage at the contact point and at the ground point.
• Electrical arcs- electrical energy causes current sparks that travel between objects of differing electrical potential, as in a highly charged source and a ground, resulting in deep thermal burns. There may also be thermal and flame burns along the pathway of the arc.
• Flame burns- clothing can be ignited, causing direct contact burns from the flames.
• Flash burns- persons close to an electrical arc can experience flash burns which may cover large surfaces of the body. These burns are not usually full-thickness burns, but may involve large areas of skin.
Electrical injuries can affect the body in several ways. In addition to burns, victims of electrical injuries may experience the following:
• Cardiac arrhythmias- ventricular fibrillation, the chaotic quivering of the ventricles, and asystole, the absence of a heart rhythm, commonly affect those who have suffered an electrical injury. Victims suffering from either of these arrhythmias require immediate CPR and defibrillation in order to survive. Other, less threatening arrhythmias can occur, and may have a delayed presentation.
• Respiratory arrest- although the lungs are not good conductors of electricity, a victim may experience the cessation of breathing if the brain or chest is directly involved in the current pathway.
• Neurologic problems- victims who suffer electrical injuries may suffer damage to the spinal cord, seizures, loss of consciousness, confusion and amnesia. Long-term neurological deficits may present themselves after the acute phase of the injury.
• Musculoskeletal injuries- victims of electrical injuries may experience secondary injuries such as fractures due to falling or blunt trauma. For example, a worker on a telephone pole may fall a great distance if electrocuted by a live wire, resulting in multiple bone fractures.
Electrical injuries can be life-threatening and sometimes result in death. Survivors of such injuries may require extensive treatment and rehabilitation. The cost of these injuries can be overwhelming, physically, emotionally and financially. In cases of electrical injuries that occur in the workplace, as a result of faulty equipment or as a result of negligence on behalf of another, victims of electrical injuries and their families may want to consider seeking legal advice to protect their rights. Compensation is often indicated.
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Published by: admin on June 28th, 2010 | Filed under Personal Injuary
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Is There Any Way to Predict a Wage Garnishment?
What is a wage garnishment? A wage garnishment is a common tactic used by creditors in an attempt to collect a debt where they take a portion of your paycheck.
According to Missouri wage garnishment laws, creditors can take up to 25% of your paycheck or 10% if you are head of household. When it comes to Illinois wage garnishment laws, 15% of your paycheck can be taken, regardless of whether you are the head of household.
Do you have to have a certain amount of debt for your wages to be garnished? Is there a specific time that creditors will wait before they garnish your wages? No. There isn’t a common time or amount of debt that causes creditors to garnish your wages. A wage garnishment does cost time and money to put into action.
Creditors can’t put a garnishment on your check without first going through the proper channels. They must file suit against you in regards to the debt, get a judgment against you for the amount you owe, and file an order with the court in order to garnish your wages. Unfortunately, this could be a routine practice for some creditors. If it isn’t much of a hassle, you may see a garnishment on your check sooner than you thought or for a relatively low amount of debt.
Garnishments come with a time limit—but many creditors just continue to renew the garnishment until the debt is paid. That means you could be stuck giving up a portion of your paycheck indefinitely. A garnishment isn’t just embarrassing, it reduces your ability to support and protect your family. Fortunately, there is a way to stop a garnishment on your check.
Missouri or Illinois Chapter 7 bankruptcy can put a stop to your wage garnishment and help you eliminate your debt. A St. Louis bankruptcy attorney can also assist you in getting protection from foreclosure, stopping repossession, and preventing your creditors from calling you or taking any more action against you.
Wondering if Missouri or Illinois Chapter 7 is the right solution to your debt? Take the time to make sure you understand every option you can choose for relief. Remember, doing nothing changes nothing. In order to get out of debt, you must make some tough decisions. Start by researching free articles, blogs, and bankruptcy FAQ from reputable attorneys in your area. Many attorneys will offer a free consultation but the best bankruptcy attorneys will offer you free information before you even set foot in the door.
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Published by: admin on June 28th, 2010 | Filed under Debtor & Creditor law
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Legal Plans That Saves More Than Just Money
It is a globally acceptable truth that living has become very expensive these days while the value for life is reducing. Global meltdown, financial paralysis, constant growth of crime, divorces cases, and identity theft crime are just a few of the unending threats that you or your loving one face everyday. It has hence been studied that legal advice has become an indispensable part of our lives. At the same time it is also true that seeking a legal advice is not only expensive but complex too.
To bid a farewell to all your worries pertaining to legal issues, eLegal plans have come up with a discounted and prepaid legal plan solution. Just like you opt for the savings plan in dental and healthcare you can now opt for savings plan in legal services. The website takes the initiative to provide the best attorney services and consultations to the members but at a reasonable rate. The members can get all their legal issues sorted, which would have been very expensive otherwise. Keeping the growth of the rising requirement and cost of attorneys in mind, the services have been launched by this company. The website clearly mentions that they do not provide any legal insurance but legal plans that can help you to sort various legal issues.
The services provided by elegal Plans have been classified as gold, silver and platinum plans. Not all but these plans tend to cover legal solutions like Identity theft protection, real estate issues, traffic tickets, immigration, credit card issues, finding bankruptcy lawyers, domestic violence, and more. Most of the common issues are covered in the legal plans as people are prone to become prey of these issues.
The process flow of their plans is simply mentionable. Everything is in system and the company has network with about 20,000 employees all round the globe. Phone consultants in the preliminary stage are almost free no matter how many times the client calls. You will be advices on every step of the legal proceedings and care could be taken of your plans and discounts. You are open to enter into live chat with the experts at service. All plans assures affordable legal protection.
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