Three Methods of Joint Ownership of Real Property

Joint Ownership is opted by many new couples and owners now. It is an easy way to distribute the ownership of your house, based on the amount of money invested by an individual. 

Before we begin on explaining how you can get the joint ownership of real property, there are a few things that you need to know anbour Joint Ownership of Property. 

What is Joint Ownership of Property?

There are three ways to go about owning a property. 

1. Individually
2. Joint names
3. Conrtact Rights

Ascertaining the ownership of the property will help you to know the rights towards the property in case of a death. If you choose to have joint ownership then it comes in three forms for the state of Florida. As one of the best real estate lawyer in Florida, it becomes our responsibility to let you know all about the methods of Joint Ownership of Real Property in Florida. 

Three Methods of Joint Ownership of Real Property

1. Joint Tenancy with Rights of Survivorship

Joint Tenancy with Rights of Survivorship (JTWROS) is generally used when there are two or more owners. The ownership of a single owner transfers to the other joint owners or surviving owners in case of death. The surviving owners will simply remove the name of the deceased owner. In order to remove the name, they have to provide a death certificate or draft a new deed altogether that indicates the death of the joint tenant.  

2. Tenants in Common

When you have joint ownership under Tenants in Common or TIC then the ownership is determined upon the contributions made by each owner. The contributions will determine the percentage of hold over a property. 

3. Tenants by Entirety 

This is a special kind of joint tenancy with rights of survivorship as it is signed between married couples. In some states, including Florida, this type of joint ownership is recognized between the married couples. This helps in avoiding probate and manage proper asset protection planning. 

Let the most preferred real estate attorney help you understand these in detail by hiring Hale Law Services, P.A. We are board certified by the Florida Bar in Real Estate and help all our clients in all the necessary legal real estate procedures. Give us a call at (239) 931-6767 to know more!

Reasons to Consider Selling your Home in 2019

2019 is the golden year for selling your home if you are planning to sell it. This year will be great for acquiring the best price on your property. The growth on home prices has slowed down from mid-2018. It is forecasted to gain momentum with a better increase in prices while putting your houses on sale in 2019.

If you are still making up your mind on putting up your house on sale, then consider selling it this year itself, without any delay. There are many real estate lawyers and agents who are recommending this, here are a few reasons why.

1. Entry of new buyers in the market

The largest number of buyers in the real estate market has to be the millennials. They are the ones who will be buying their own houses for the very first time. Based on the recent Harris Poll survey conducted upon 2000 U.S. individuals among the age group of 18 to 34-year-old, about one-fifth of the whole group plans to buy their own home in the next 12 months. Due to this, you will have a quality and quantity inflow of buyers who are willing to take off your homes from your hands.

2. Favourable interest rates

The interest is the highest since February 2011. For people getting sad, we would like you to know this is still less than the highest interest recorded in 1981 with 18%. Thankfully, the current rate is going to remain steady and is not likely to cause any fluctuations. As there is no uncertainty regarding the rates going lower or higher at least for this year, so 2019 is the ideal year for buying a new house.

3. Choose 2019 and not 2020

There are many who are predicting that the next recession is going to hit in 2020. For this, 2019 becomes ‘the’ year to sell your house if you are willing to fetch higher returns. Recessions can affect your home’s value as the people might not be in a good financial situation to pay.

Get your Home’s Legal Documents in place!

Before you move forward, you need to go through title clearance with the help of a real estate lawyer. For this, hire the best real estate lawyer in Bonita Springs with Hale Law Services, P.A. Call us at 239-931-6767 to book an appointment today!

4 Things To Consider While Buying a New Development

 At Hale Law Services, we feel that our considerations along with the assistance of an experienced real estate lawyer can really help you find an ideal new development that fits your needs. New real estate developments in Florida’s cities like Bonita Springs, Fort Myers, Sanibel and Estro, are offering many advantages for their prospective buyer. 

Advantages Of Buying A New Development: 
1. Brand New Home
2. Customized To Meet The Client’s Requirement

The developers behind these new real estates usually anticipate and pre-decide a date, i.e., the move-in date. They begin selling these developments about 12 to 24 months prior to the anticipated date. Thus, they meticulously plan their timeline. 

People can get confused with the options and timeline, and so Hale Law Services, P.A., considered to be among the best real estate lawyers, have mentioned 4 things that a potential home-owner should consider before buying a new development. 

1. Researching The Constructor
If you are new to a place, you would not be aware of the reputation or credibility of a constructor or a developer. Try to conduct a background check on them. If you find them tangled in any history pertaining to problems or defects in construction, then be wise to walk off from their project. 

2. Adjust Your Budget
The closing cost of a property or new real estate development is arrived at after adding the city as well as state taxes. Do not try to be at par with your budget. Rather make room for these taxes in your budget and buy accordingly. 

3. Know That Every Construction is Different
People always compare the space of the new development with the price.With new developments, they should rather compare the specifications and amenities with the price. A customized one bedroom can cost more than a three bedroom. Thus, you need to keep in mind that not all properties are the same thus the price will tend to vary.  

4. Be aware of the rules and laws
Homeowners’ Associations, condominiums, and co-ops have their separate rules that every homeowner having a home within their boundary must obey. These rules may include policies against pets, smoking or subletting regulations and fees. These rules are important and so the potential homeowners should know these rules before buying. 


Know This Before Signing The Papers!
After you have found a desired real estate, try finding a lawyer that can represent you. A well-experienced lawyer can easily look after:
Reviewing Transfer Documents
If the zoning laws and regulation will meet the client’s expectation
Recovery for false representation by the sellers
All in all, an experienced real estate attorney will protect your interest at any cost.