“Title insurance is the most exciting topic EVER!”
– Said nobody in the history of the world
It IS really important though. If you’re thinking of buying (or if you have clients who are), check out this information from Old Republic Title:
http://www.oldrepublictitle.com/blog/what-every-realtor-should-know-about-owners-title-insurance.asp
As always, please let us know if you have any questions about this or any other matter.
Regards,
John & Faye
What is Earnest Money? Buyers typically give a deposit when they make an offer on a house. The money is provided to demonstrate that you are “earnest” or serious about buying their home. The amount of earnest money given usually depends on local custom, but a serious buyer might opt to give more to show commitment.
In most cases, the earnest money goes towards the eventual purchase of the house; however, there are two primary scenarios where you Buyers might have earnest money returned:
1. Rejected offer. If you make an offer to buy a house and the seller turns it down, they are required to give you the earnest money back; OR
2. Contingencies. When you make an offer to buy a house, the offer is usually contingent upon certain things, like a home inspection. If the inspection uncovers a serious flaw which is unacceptable, can’t be fixed, or the seller is unwilling to fix, you will also get your money returned.
To the contrary, if you back out of the Offer or Purchase and Sales for no good reason (ex. you decide you just don’t like the house or location), you might forfeit your earnest money. Like so many things in the law, we look at the return of earnest money on a case by case basis to determine what is right or just.
As always, please feel free to contact us with questions that you may have about this or any other legal issues.
What Do Charlie Sheen and Ninja Turtle Kush Have in Common?
What do you think of when you read the following phrases?
Charlie Sheen.
Goofy Boots.
Ninja Turtle Kush.
Green Crack.
Are you confused or laughing right now? If you are confused, you probably know these terms:
Weed.
Cannabis.
Marijuana.
Pot.
As we approach the one year anniversary of marijuana legalization in Massachusetts, here are a couple of quick updates to laws within the Commonwealth:
Chapter 55 of the Acts of 2017 created the Cannabis Advisory Board and Cannabis Control Commission. The board is making recommendations regarding regulations and taxation of marijuana. Cities and towns may establish zoning by-laws and ordinances which allow commercial growing and cultivation. Cities and town may also impose a local sales tax of up to 3% upon the sale of marijuana and marijuana products (in addition to the 17% percent state sales tax);
Chapter 94I has specified that a person cannot be arrested or prosecuted for being in the presence of medical use and that insurance companies are not obligated to reimburse patients for the use of medical marijuana.
As always, please let us know if you have questions regarding this or anything else.
Faye & John
“It’s so free this kind of feeling;
It’s like life, it’s so appealing;
When you’ve got so much to say;
It’s called Gratitude and that’s right.”
-Beastie Boys
We have so much to be thankful for this year: our families, clients, vendors, and colleagues. We very much appreciate your business, referrals, and friendship. Happy Thanksgiving!
Warmly,
Faye & John
Massachusetts Child Support Guidelines are changing quicker than David Bowie used to transform into Ziggy Stardust. Starting in September, 2017, there will be massive changes to how child support is calculated. There are a lot of changes in store, but some of the highlights that will be most interesting to our clients:
A blanket 25% reduction in support obligations for children between the ages of 18-23;
A presumptive cap on college contributions, for each parent, at 50% of the cost of attending UMass Amherst (aka “The UMass Formula”);
Removal of modified support based on parenting time; and
Acceptance of unreported income, thereby making it easier to “impute” income.
Like all new rules and guidelines, it will take a while to determine how some of the more detailed changes actually get applied in real cases. Please email or call us if we can help you to better understand how the guideline changes might apply to your specific situation.
A helpful link from the Commonwealth of Massachusetts:
http://www.mass.gov/courts/case-legal-res/law-lib/laws-by-subj/about/support.html
Follow The Law Office of Weiner Jackson & Simmons