Have you recently purchased a new house or commercial property? Do you feel like your property taxes are unusually high? Your property may be over-assessed. Do not be fooled by your “assessed” value. In the suburban counties in Southeastern Pennsylvania, the assessment is supposed to be a percentage of the fair market value; in other …

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Most business owners have experienced a client going through bankruptcy. If a client goes into bankruptcy and still owes you money, then you usually accept the loss and move on. However, in some cases Creditors actually get sued for the return of money by the Trustee. They don’t understand how this can happen; because they …

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Time and again, we are engaged to assist clients in solving real estate problems that could have been discovered – and perhaps avoided — if they had surveyed the property before they bought: Like the homeowner who discovered a good part of his yard and part of his house were actually outside his lot and …

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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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