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You Had the Power All Along

We are going to let you in on a little secret. Sellers do not need to attend the closing when they sell a property. In fact, many attorneys would prefer that sellers do not. Here’s why:

1. Small talk between the parties can be downright scary. We recently worked with a buyer who, mid-closing, asked the seller why there were coffins in the basement. Yes, you read that correctly. COFFINS.

It’s safe to say that it was a pretty scary few seconds until the seller gave a “reasonable” response. While this question is a once in a lifetime, small talk between the parties always has the potential to derail a transaction and nobody wants that to happen.

2. In most cases, the seller leaves the closing table without a check in their hands (unless the closing happens at the Registry of Deeds). The transfer of ownership needs to be “on record” before the seller receives a check or wire for their proceeds. Recording may take a couple of hours, especially where some lenders require authorization prior to filing documents at the Registry and (electronic) recording takes a little while to process.

3. Your attorney can sign documents on your behalf with a Limited Power of Attorney. By having your attorney sign for you, your time can be spent signing documents for your next home, working or having coffee with a friend.

A Limited Power of Attorney allows someone to act on your behalf for a specific transaction or purpose. By contrast, a Durable Power of Attorney allows someone to assist you more broadly with legal and financial matters.

As always, please let us know if you have questions about this topic, need representation in the sale or purchase of a home, as well as any other legal matters.

If you are interested in this topic, you may enjoy this article :
https://www.realtor.com/advice/sell/5-tips-se lling-a-home-from-out-of-state.

Regards,
John and Faye

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What Happens in Vegas

Nicholas Cage clearly believes in the idea of marriage. He has been married four times, with his most recent marriage lasting only four days prior to filing for an annulment. According to reports, the movie star married a makeup artist in Las Vegas. What is most eyebrow raising about this most recent marriage is that his wife is disputing the annulment, but instead asking for a divorce and alimony.

Alimony is generally not awarded when the marriage is short term, including if an annulment is granted. Why is this case different? The wife is claiming that her reputation has been damaged by the annulment and that her future income will limited for that reason. We have no knowledge of Nevada law or specifics of the case, other than what was reported in the MSM, but Massachusetts courts would likely deny her request for alimony.

Massachusetts allows for alimony based on the length of the marriage and the needs of the parties. We allow for several types of alimony:

1. General Alimony: Support is paid to an ex -spouse who is financially dependent on the former spouse.
2. Rehabilitation Alimony: Support is paid to an ex-spouse who is expected to be self sufficient within a predicted amount of time.
3. Reimbursement Alimony: Support is paid to an ex spouse after a marriage lasting less than five years to make up for costs or expenses that helped him or her start a business, receive an education or similar.
4. Transition Alimony: Support is paid after a marriage of less than five years to help the spouse settle into a new location or life style post divorce.

There are few hard rules regarding alimony because all situations are so different. Whether alimony is appropriate can depend on many things, including child support orders, personal needs, age of the parties and the terms of the overall agreement.

Please let is know if we can answer questions about family law or any other legal matters.

Regards,
John and Faye

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Caveat Emptor

Caveat Emptor

Buying a house is a huge investment. Unless you build the house for your family, there may always be some things that you don’t know about your house before you buy it or for years thereafter.
 
Imagine that of one of the previous owners had died years earlier. The Seller may or may not have actual knowledge of anything that occurred prior to their ownership. Nonetheless, the Seller has no obligation to
tell the Buyer if the person died in the home unless the Buyer asks a direct, specific question about it (ie. Has anyone ever died in this house?).
 
Massachusetts law puts the burden on the Buyer to ask the “right”
questions of the Seller. The most significant way that most Buyers do their due diligence is by getting a very thorough inspection; however, there are two exceptions to this rule:
 
1. Lead paint: Under Section 197a, prior to signing a Purchase and Sales, the Seller must provide a signed copy of a lead paint disclosure. 
The Property Transfer Notification Certification advises the Buyer about
the general dangers of lead paint and provides any information that the Seller might have about its presence in the property. This is one of the few documents that the real estate agents must sign during the entire
transaction, but they are only confirming that they presented the
information to the Buyer; and
 
2. Septic: Sellers must disclose whether there is a septic system on the property. Prior to closing, the Sellers must also provide a Title V which confirms that the system is working properly.  Many Sellers will have the Title V inspection done prior to listing their home to avoid any potential issues that might be raised.
 
Some Buyer questions may also be answered by a simple Google search.  Most sellers would not disclose if the house had some friendly (or unfriendly) ghosts; however, a simple online search might provide an answer to a curious Buyer.
 
Is there anything that you would want or not want to know about
your house?
 
As always, please let us know if you have any questions about this
or any other legal matters.

Regards,
John & Faye      

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You’ve Got to Know When to Hold ‘Em.

“You’ve got to know when to hold ’em
Know when to fold ’em
Know when to walk away
And know when to run
You never count your money
When you’re sittin’ at the table
There’ll be time enough for countin’
When the dealin’s done.”
– Kenny Rogers

Mortgages are a bit like gambling. You never know when the “perfect time” to initiate a new mortgage is, because there is always a risk that interest rates could go down slightly right after you sign the documents; however, there is always a risk that rates could also rise. The good news is that you can always refinance if rates drop, so unlike gambling, you can “fix” a bad hand.

Right now is a great time to buy (or refinance if you haven’t already done so). Mortgage rates are still really low and  housing prices have stabilized. Of course, nobody wants to pay more than they have to for their home. Here is how to “win” the mortgage game:

1. Connect with a really good loan officer.* He or she will help you to obtain the best mortgage rate available based on your income, liabilities, assets and credit score;
2. Correct your credit score, if needed;
3. Consider a 15 year mortgage instead of a 30 year. The monthly payments are often only slightly higher, but you can save a ton of money by minimizing how many years you are paying interest;
4. Take your pre-approval and start looking for a new home with a realtor; and
4. Retain an awesome attorney to close your mortgage!

Curious about the current mortgage rates? Check out this website:
https://themortgagereports.com/47095/mortgage-rates-today-january-21-2019-plus-lock-recommendations

Wondering about how much a mortgage might cost? For a ball park range only, peek at this one:
www.mortgagecalculator.org

If you just want to listen to Kenny Rogers:
https://www.youtube.com/watch?v=UyARoGIzmKk

As always, please let us know if we can help with a real estate or any other legal matter.

Regards,
John & Faye
* If you are in need, we are happy to recommend a really good loan officer. 

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Pliability.

Pliability.
/ˌplīəˈbilədē/
noun: the quality of being easily bent; flexibility.
– Google Dictionary

If you live in New England, the word “pliability” may trigger thoughts about Tom Brady and Alex Guerrero. Arguably, Brady has been able to play into his 40’s and gain legendary status because of his commitment to pliability. 

Pliability is a must for the family of all professional athletes and coaches. Like having someone enlisted in the military, it is a full family commitment to crazy, constantly moving schedules.

Brady is not unique in that his family is blended; he has a child from a previous relationship and two children with his wife. What would happen if the mother of his oldest son wasn’t pliable?

No Super Bowl or parade for the kid even though his dad is the GOAT. Without knowing any of the parties or the specifics of their parenting agreement, it is unlikely that Brady always has visitation on the first Sunday of every February or the following week reserved so his son can ride in a parade (though it might be smart to do so).  Without some pliability by his mom,  the poor kid would miss these extraordinary, once (or six times) in a lifetime, experiences. While we realize that Brady’s specific concerns are not typical, they actually are pretty common.

Take the fairly typical “overnights every other weekend and dinner once or twice during the week” scenario. What if there is a big family event that the child would miss because it’s not the “right”  weekend for the parent?  What if Mom or Dad travel for work?  What if one of the parents or the child(ren) are sick? Ideally, both parents are pliable and do what is best for the child(ren).

Co-parenting can be bit trickier if the parents live far apart from one another. Typical visits are longer in duration, but less frequent. For some parents, it means commuting back and forth to where their child lives. In this scenario, the local parent should really be pliable if the parent shows up late, arrives early or needs to reschedule due to weather. 

Simply put, there is no “one size fits all” for co-parenting schedules and life happens. When developing a plan, the parents  should consider the needs, preferences and best interest of the child.  They should also be (wait for it) PLIABLE.

As always, please let us know if we can help you with developing a parenting agreement that works for you or any other legal matter.

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