Buying or Selling Homes

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Buying or selling homes will probably be the largest and most significant purchase you will make in your life. It also involves the law of real property, which is unique and raises special issues of practice, and problems not present in other transactions. A real estate lawyer is trained and experienced to deal with these problems.

Buying or Selling Home

In the typical home purchase, the seller enters into a brokerage contract with a real estate agent, usually in writing. The process may seem simple on it’s face, but without a lawyer, the consequences may be more disastrous than purchasing a car that turns out to be a lemon, or a stock investment that was unwise.

When Buying or Selling Home Avoid Vague or Unclear Terms

A lawyer can help you avoid some common problems with a home purchase or sale. For example, a seller may sign a brokerage agreement that does not deal with a number of legal problems. This happens quite often; realtors often use standard forms, expecting that they will cover all circumstances or will be easily customizable for unusual circumstances.

When buying or selling homes in the absence of an agreement to the contrary, the seller may become liable to pay a brokerage commission even if a sale does not occur, or to pay more than one brokerage commission.  A lawyer can explain the effect of multiple listings. He or she can negotiate the realtor’s rights if the seller withdraws the property from the market, or can’t deliver good marketable title.

The seller should have the advice and guidance of an attorney with respect to a brokerage agreement. Even if the agreement is a standard form, its terms should be explained to the seller and revised, if necessary. An attorney should also determine if the agreement was properly signed.

Tax Consequences 

Even if a lawyer is not needed during the course of negotiations, when buying and selling homes, the buyer and seller each may have to consult with a lawyer to answer important questions, such as the tax consequences of the transaction. To a seller, the tax consequences may be of critical importance. For example, the income tax consequences of a sale, particularly if the seller makes a large profit, may be considerable. An attorney can advise whether the seller can take advantage of tax provisions allowing for exclusion of capital gains in certain circumstances.

Purchase Agreements

The purchase agreement is the single most important document in the transaction. Although standard printed forms are useful, a lawyer is helpful in explaining the form and making changes and additions to reflect the buyer’s and the seller’s desires.

There are many issues that may need to be addressed in the purchase agreement; below are some common examples:

If the property has been altered or there has been an addition to the property, was it done lawfully?

If the buyer has plans to change the property, may what is planned for the property be done lawfully?

What happens if a buyer has an engineer or architect inspect the property and termites, asbestos, radon, or lead-based paint is found?

What if the property is found to contain hazardous waste?

What are the legal consequences if the closing does not take place, and what happens to the down payment? This question raises related questions: Will the down payment be held in escrow by a lawyer in accordance with appropriately worded escrow instructions? How is payment to be made? Is the closing appropriately conditioned upon the buyer obtaining financing?

Most buyers finance a substantial portion of the purchase price for a home with a mortgage loan from a lending institution. The purchase agreement should contain a carefully worded provision that it is subject to the buyer’s obtaining a commitment for financing.

Title Search

After the purchase agreement is signed, it is necessary to establish the state of the seller’s title to the property to the buyer’s – and the finance institution’s – satisfaction. Generally a title search is ordered from an abstract or title insurance company.  An attorney can help review the title search and explain the title exceptions as to what is not insured, and determine whether the legal description is correct and whether there are problems with adjoining owners or prior owners. He or she can also explain the effect of easements and agreements or restrictions imposed by a prior owner, and whether there are any legal restrictions which will impair your ability to sell the property.

The title search does not tell the buyer or seller anything about existing and prospective zoning. A lawyer can explain whether zoning prohibits a two-family home, or whether planned improvements violate zoning ordinances.

The Closing

The closing is the most important event in the purchase and sale transaction. The deed and other closing papers must be prepared.  A closing statement should be prepared prior to the closing indicating the debits and credits to the buyer and seller. An attorney is helpful in explaining the nature, amount, and fairness of closing costs. The deed and mortgage instruments are signed, and an attorney can be assure that these documents are appropriately executed and explained to the various parties.

The closing process can be confusing and complex to the buyer and seller. Those present at the closing often include the buyer and seller, their respective attorneys, the title closer (representative of the title company), an attorney for any lending institution, and the real estate broker. There may also be last minute disputes about delivering possession and personal property or the adjustment of various costs, such as fuel and taxes. If you are the only person there without a lawyer, your rights may be at risk.

Get a Free Initial Case Assessment

A broker generally serves the seller, and the lender is obtained by the buyer. Both want to see the deal go through, since that is how they will get paid. Neither can provide legal counsel. Contact a local attorney for a free initial case assessment to insure that you have someone in your corner during this important and complex process.

Family Offense Crimes

Family offense crimes

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Family offense crimes are very serious charges. Family crimes may include things like charges of domestic violence, abuse, child abuse, sex abuse, endangering the welfare of a child, along with Child Protective Services allegations. The outcome of these matters not only affect your freedom and criminal record but they may also affect your ability to see and spend time with your children, return to your home if there is an order of protection in place, and have extensive consequences to your job and home.

Family offenses should only be handled by attorneys experienced in both family and criminal court. Only attorneys with this type of interwoven legal experience can best advise you of how your matter should be handled for the best possible outcome in your case. Often times, these cases are transferred to “IDV Court” Integrated Domestic Violence Court. In this court, criminal and family matters are heard in the same Court, often by the same judge. It is imperative that you hire a lawyer to represent you that is familiar and comfortable in the IDV Court system.

When charged with a family offense, experienced legal help should be sought immediately, before you are interviewed by a State agency or law enforcement, or as soon into the matter as practicable. The earlier that you involve an experienced attorney in your matter, the better the chance for the best possible outcome in your case.

If you have been charged with a family offense or child protective matter, or have been interviewed regarding a pending family offense matter in Onondaga County, call me immediately at (315) 474-5533. I offer a free consultation to review all the facts and circumstances of your matter so that I can best advise you proceeding forward.

Caught with Oxycodone, Now What?

balduf_oxycodone_WHAT IS OXYCODONE, AND WHAT HAPPENS IF I’M CAUGHT WITH IT?

Oxycodone, also commonly referred to by the brand name OxyContin, is a synthesized opiate that is commonly prescribed to treat extreme pain. It is also frequently given to patients in tablet form under the names Percocet and Percodan. While the drug was initially developed to be a less addictive form of traditional morphine, time has proven that oxycodone is just as addictive as its opiate derivative and abuse of this drug has become quite common. As reported by the Center for Disease Control, in 2010 more than 16,600 people died of overdoses related to oxycodone and other synthetic opiates.

Due to its dangers, possession of this drug without a valid prescription is strictly prohibited in several states. Oxycodone has been classified as a federally controlled Schedule II drug, imposing strict manufacturing and distribution guidelines for pharmaceutical companies.

PENALTIES FOR POSSESSION OF OXYCODONE IN NEW YORK

In New York, a conviction for possession of oxycodone can lead to a laundry list of different penalties. Depending on the amount that is found on your person at the time of arrest, you may be subject to exorbitant fines and even a prison term.

At minimum, oxycodone possession charges can bring the following consequences:

Incarceration

Steep Fines

Community service

Mandatory participation in a drug abuse treatment program

Possession of small amounts can result in a prison sentence of up to 1 year, while larger amounts can lengthen the prison time. If you are also charged with intent to distribute, the penalties will be much more serious. Along with a felony charge, you could face up to 20 years in prison and $5 million in fines. Finally, if someone dies due to your selling of oxycodone, life in prison may be imposed.

DRUG COURT/ADDICTION

Drug Court may be an option.  Getting help if you have an addiction is a priority for both your criminal record and your life.

If you have been arrested for possession of oxycodone, it is imperative that you contact an experienced New York criminal defense attorney.  Call William Balduf, Esq..  He is equipped to handle various drug crimes and can seek to have your charges dropped.

Protect your future – call today at (315) 474-5533