Kelsch Law Firm, P.A. Legal Blog
Change Orders
Change can be difficult. This can be especially true in residential construction where projects can veer off course when a contractor encounters an unforeseen obstacle that may cut into his profit margin, or when an owner requests an oral change and later refuses to...
Pesky Uncle Sam: Tax Treatment in Chapter 11 Bankruptcy
Uncle Sam, of the U.S. Treasury, is a pesky and persistent “family member” who inserts himself into every conceivable financial affair. Impossible to shake, his needs must be satisfied. If not, he can make life extremely difficult. Understanding tax treatment in...
Purchase Agreement Disclosures: Too Much is Better Than Not Enough
WHAT IS A PURCHASE AGREEMENT DISCLOSURE? To disclose means to make information known, and a real estate purchase agreement disclosure does exactly that; it apprises potential buyers of the condition of the property. These statements are typically given once a buyer...
The High Stakes of Real Estate Purchase Agreements
In Monopoly, prospective properties on Park Place and Illinois Avenue are purchased “as is.” The money used to purchase them isn’t real. There are no negotiated purchase agreements. The highest negative stake is losing face to fellow competitors by going belly-up in...
Stripping Away Burdensome Mortgage Debt
Lien stripping is a process available to debtors in bankruptcy that can remove junior mortgage liens on residential property, freeing property from burdensome mortgages that exceed the value of the property. After a lien strip, a homeowner is only obligated on the...
Common Lawsuits Involving Homewner Associations
Disputes between owners and homeowners associations (HOA) are pretty common-place, and can become quite unpleasant and may quickly escalate to a frenzied state, especially when the relationship between the parties is already strained or the disagreement involves a...
Newspapers rarely announce your personal bankruptcy
Perusing the Star Tribune this morning, I came across a short article listing several local business bankruptcies. Consumers who are considering filing Chapter 7 or Chapter 13 bankruptcy often worry about the publicity of bankruptcy. Everyone is going to find...
Prevent construction disputes with these tips
2013 is shaping up to be the year of the bulldozer. Construction is up in the U.S. for new single-family homes, and building permits are on the rise. This February, builders in the U.S. started work on more houses and apartments and obtained permits for future...