There are a number of advantages to co-owning real estate property with a trusted friend or family member, from increased purchasing power to sharing the expenses associated with owning the property, including repairs and renovations. If you want to purchase a vacation home or expand your real estate portfolio, co-ownership may be a viable option if […]
If you are a homeowner aged 62 or older looking to supplement your income to pay for monthly expenses, medical costs, or home repairs, you may be eligible for a reverse mortgage. A reverse mortgage allows you to borrow money based on the equity of your home if you qualify. However, while there are benefits to […]
In the real estate market, a short sale generally occurs when the homeowner is in financial distress and cannot make regular mortgage payments. In an effort to avoid the expensive and time-consuming foreclosure process, lenders may allow the borrower to sell the home for less than what is owed, accept the payoff, and release the borrower from […]
In New Jersey, hiring a real estate attorney is not a legal requirement for buying or selling a home, but many people find it advantageous. An attorney provides valuable support by reviewing and preparing contracts, offering legal advice, and confirming that all legal documents are properly completed. They also conduct title searches to verify that the property […]
For most people, real estate is their most valuable asset, whether it is a family home, another piece of residential property, or a commercial space used as an investment property. When the property owner passes away, the deceased’s estate will be distributed to the beneficiaries specified in their last will. However, if no legal document is in place, […]
Navigating the legal waters surrounding the establishment of a power of attorney (POA) can be daunting, especially when it pertains to matters involving real estate. With the right information and guidance, however, you can make informed decisions that safeguard your interests and those of your loved ones. This comprehensive guide aims to demystify the process […]
Navigating the complexities of estate planning can be a daunting task for anyone. In Somerville, where the nuances of local real estate laws add another layer of complexity, the wisdom of keeping a seasoned lawyer by your side cannot be overstated. Understanding the realm of estate planning and the indispensable benefits a lawyer brings to […]
