FAMILY LIMITED PARTNERSHIPS Family limited partnerships are being used by many people in their estate planning as a method by which a senior generation can give away income producing property which has a likelihood of appreciation and yet control distribution and cash flow from the assets. When the family limited partnership technique is …

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FAMILY LIMITED PARTNERSHIPS Q: I established a living trust for my benefit and my wife’s benefit during our lifetimes. Can I transfer our real estate into this trust without incurring a realty transfer tax? A: This questions hits upon a very problematic area of trust planning. Many people in recent years have begun using …

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The length of the probate process in Pennsylvania (PA) or other states varies greatly from estate to estate. The determining factors include the assets involved in the estate, the experience of the Executor/Administrator and counsel and the ease in dealing with the beneficiaries. Contrary to common belief, the process is rarely impacted by the actual …

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Purchasers of newly constructed or renovated residential or commercial properties, as well their lenders, must more cautious about mechanics lien issues than in the past. As a result of the economic recession (prompting concerns about contractors’ solvency) as well as amendments to Pennsylvania’s Mechanics Lien Law that broadened mechanics lien rights in significant ways, and …

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By: William J. Burke, III You are about to sign an agreement to buy a home, a building lot in the country on which you plan to build your dream home, or maybe an investment property. Should you obtain a survey as part of your “due diligence”? Professional developers almost always obtain a new survey …

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Whether you are buying a home, a lot on which you hope to build your dream home, an investment property, or land that you hope to develop, the quality of title is probably the most important – and often the most misunderstood and overlooked – aspect of the transaction. Everyone knows they should get “clear …

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In November of 2008 Pennsylvania’s new Mortgage Loan Industry Licensing and Consumer Protection Law went into effect (“Mortgage Lender Law”). The law was subsequently amended. Those amendments went into effect August 2009. The new Mortgage Lender Law is intended to provide better government control over mortgage lending practices. The law requires that, in almost every …

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By: Transactional Department There are substantial liability protections and other benefits to operating the business through a separate entity, rather than as a sole proprietor or general partnership.  Two of the most popular entities for small businesses are limited liability companies (“LLC”) and subchapter S corporations (“S-Corp”).  Either entity can provide liability protections for …

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How Does a Sherriff Sale Work? Every County in Pennsylvania conducts periodic sheriff’s sales of real estate.  They may be every month or every few months.  The sales are conducted in an auction format with open bidding.  The properties at sale are being sold at the behest of a creditor attempting to recover money owed.  …

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By: William J. Burke, III A new interstate natural gas pipeline may be coming through Chester County, Pennsylvania to transport natural gas out of northern Pennsylvania. The Commonwealth Pipeline (http://www.commonwealthpipeline.com) is in the planning stages and may pass through several Northern Chester County Townships on its way from Lycoming County to Berks County and beyond. …

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