Schecter Law http://www.schecterlaw.com Just another WordPress site Fri, 30 Jan 2015 18:55:42 +0000 en-US hourly 1 A Fort Lauderdale Business Agreement Attorney Can Help You Structure Your Contracts http://www.schecterlaw.com/2015/01/30/fort-lauderdale-business-agreement-attorney-can-help-structure-contracts/ http://www.schecterlaw.com/2015/01/30/fort-lauderdale-business-agreement-attorney-can-help-structure-contracts/#respond Fri, 30 Jan 2015 15:55:09 +0000 http://www.schecterlaw.com/?p=2935 Hire a Business Agreement Attorney for Help with Structuring Your Contracts Business owners sometimes attempt to handle the job of drafting their own contracts to save money, but this often can be a mistake. Your agreements and contracts are a crucial component of your business which can become a costly problem if they are not carefully structured [...]

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Hire a Business Agreement Attorney for Help with Structuring Your Contracts

Business owners sometimes attempt to handle the job of drafting their own contracts to save money, but this often can be a mistake. Your agreements and contracts are a crucial component of your business which can become a costly problem if they are not carefully structured from the start. A Fort Lauderdale business agreement attorney can help you design your contracts so that they are fair to you and all parties involved, and to ensure your legal risks are minimized.

Your attorney will help you avoid conflicts between partners

Business partnerships can have many potential issues if the details of the partnership are not carefully outlined in the contract. There are a wide range of issues that may need to be outlined in your contracts, such as share allocations, profit sharing, salaries, management responsibilities, liabilities and more. Conflicts often can be avoided when a contract is properly structured by an attorney and includes any of the above mentioned or other areas that need to be addressed.

You may need assistance with employee agreements

Employee and contractor agreements are often overlooked by business owners, but they are a huge source of potential liability when they are not properly structured. Your attorney can ensure that every legal and liability issue is carefully outlined in your employee and contractor agreements so that you are protected. Also, you may need non-compete agreements or non-disclosure agreements drafted for your employees and contractors. Your attorney can help you with these agreements and ensure that your trade secrets are properly protected.

Your terms of service may need to be reviewed by an attorney

The terms of service for your business are another significant area of concern, and it is often a mistake to use generic or prepackaged terms for your business. Your terms of service need to be customized for your business to cover any unique risks that you may have. Your attorney can review your current terms of service or draft new terms for a new business to ensure that every liability area is covered. Also, if you enter into agreements with your customers on a regular basis, your attorney can also review those agreements and ensure that you are protected from liability as much as possible.

Mark Schecter is an experienced Fort Lauderdale business agreement attorney who can assist you with drafting any contract or business agreements as needed. Contact Schecter Law today for a consultation if you have any questions or concerns about your business’s contracts and agreements.

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A Fort Lauderdale Business Formation Attorney Can Help You Choose the Right Legal Structure http://www.schecterlaw.com/2015/01/26/fort-lauderdale-business-formation-attorney-can-help-choose-right-legal-structure/ http://www.schecterlaw.com/2015/01/26/fort-lauderdale-business-formation-attorney-can-help-choose-right-legal-structure/#respond Mon, 26 Jan 2015 14:51:20 +0000 http://www.schecterlaw.com/?p=2932 Selecting the proper legal structure is one of the most important initial decisions that a business owner can make. Picking the wrong structure can have serious potential liability and tax consequences. An experienced Fort Lauderdale business formation attorney can assist you with choosing the best legal structure for your business and advise you on the [...]

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Selecting the proper legal structure is one of the most important initial decisions that a business owner can make. Picking the wrong structure can have serious potential liability and tax consequences. An experienced Fort Lauderdale business formation attorney can assist you with choosing the best legal structure for your business and advise you on the benefits and disadvantages of each one.

Your company’s legal structure has major implications on your taxes and liabilities

The legal structure that you select for your business has a major impact on several aspects of its operation include taxes, personal liability for the owners, the amount of paperwork that is required, meeting requirements and more. An experienced attorney will tell you that there is no such thing as the perfect legal structure that works for every type of business.

Whether you are an individual business owner or one of several shareholders, you can benefit from speaking with an attorney during the planning stages of your business to determine the type of entity that is most suitable for you.

Type of business entities that an attorney can assist you with

A Fort Lauderdale business formation attorney can help you with forming any type of business entity that you may need including an S corporation, C Corporation, LLC, or professional corporation. Below is a brief overview of each type:

  • S Corporation – An S Corporation offers owners the ability to separate their personal assets from their business’s debts. This type of entity requires annual meetings, and records of the meetings must be kept.
  • C Corporations – these have many similarities to S Corporations with no limitations on the number of shareholders. Also, both S and C Corporations limit shareholder liability for the business’s liabilities and debts.
  • LLCs (Limited Liability Companies) – LLCs do not have any limitations on the number of owners and can be taxed similarly to a sole proprietorship if there is one owner or as a partnership if there are multiple owners.
  • Professional Corporations – these are a good option for professionals working in the fields of medicine, law, accounting, and other professional services, and this entity can protect the owner’s personal assets from lawsuits.

Mark Schecter has extensive experience helping business owners from all backgrounds with picking the best entity for their company. If you have any specific questions about forming a new business or the above mentioned business entities, contact Mark Schecter at Schecter Law today.

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Why You Should Hire a South Florida Business Formation Attorney to Incorporate http://www.schecterlaw.com/2015/01/16/hire-south-florida-business-formation-attorney-incorporate/ http://www.schecterlaw.com/2015/01/16/hire-south-florida-business-formation-attorney-incorporate/#respond Fri, 16 Jan 2015 14:10:24 +0000 http://www.schecterlaw.com/?p=2925 With a wide range of different do-it-yourself legal document services available, many Florida entrepreneurs try to manage the important task of incorporating their business on their own. Online legal document preparation services offer the promise that they can give business owners everything that they need to file the documents for a new business at a [...]

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With a wide range of different do-it-yourself legal document services available, many Florida entrepreneurs try to manage the important task of incorporating their business on their own. Online legal document preparation services offer the promise that they can give business owners everything that they need to file the documents for a new business at a low cost. However, there is no way for a template document to cover all of the specific and unique circumstances and terms that need to be included in a new company’s initial documents to protect its owners from risk and legal issues.

You may need a more effective solution than an online document preparation service

Online legal document preparation services are incredibly limited in what they can do in terms of business formation. If the business is complicated in any way: if there are shareholder agreements that need to be drafted, if stock issues need to be addressed, if intellectual property is involved, or any other matter that requires a deviation from standard business formation documents, hiring an attorney is always a better decision. Your attorney will customize your business’s documents as needed, while document preparation services may leave out important details that can turn into liabilities later on.

Your attorney will have a background and understanding of your business if there are future problems

There are many circumstances that may arise during your business venture that will require the assistance of an attorney. When you hire an attorney to create and file your organization’s legal documents, you have a legal expert available with a background and understanding of your business model. Your attorney will be ready to help once you call for legal assistance and will be able to deal with the matter efficiently, saving you time and money.

Online legal document preparation services are not that inexpensive

You may be thinking that online legal document preparation services are the least expensive route to getting your business registered in Florida, but this is not always the case. There are often hidden recurring monthly charges and other extra costs if you want your documents to actually be reviewed by an expert. The total costs can end up being comparable or even more than what a lawyer will charge you, and the major downside is that you won’t be getting 100% original documents for your business that cover the many unique legal situations that you may encounter in your line of work.

Mark Schecter at Schecter Law is an experienced South Florida business formation attorney who can create and file the appropriate business formation documents with all of the necessary protections and ensure that your company is properly registered for business in Florida. Contact Schecter Law today for more information on our business formation services or other legal services.

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Areas of Concern When You Form a New Business http://www.schecterlaw.com/2015/01/09/areas-concern-form-new-business/ http://www.schecterlaw.com/2015/01/09/areas-concern-form-new-business/#respond Fri, 09 Jan 2015 14:53:04 +0000 http://www.schecterlaw.com/?p=2919 Areas of Concern When You Form a New Business When you start a new company, you should seek the advice of a South Florida business formation attorney who can assist you with all aspects of your business’s formation. Many entrepreneurs mistakenly launch a business without having a plan in place to manage their risk. An [...]

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Areas of Concern When You Form a New Business

When you start a new company, you should seek the advice of a South Florida business formation attorney who can assist you with all aspects of your business’s formation. Many entrepreneurs mistakenly launch a business without having a plan in place to manage their risk. An attorney can address the most pressing legal risks to you before you dive into your business. An experienced attorney will also ensure that the right type of legal structure is used for your business and will address any unique concerns and potential issues with you before they become a real problem.

There may be operational risks that you are unaware of

A knowledgeable attorney can help you see your blind spots, or previously unforeseen risks that can have a tremendous impact on the future of your business. Your attorney will very likely catch risks or operational issues that you were previously unaware of after a consultation. An attorney can also give you advice regarding the most likely troubles that you may encounter during the operation of your business, and which specific liabilities to focus most of your time and resources on avoiding.

Addressing how a business is divided between multiple owners

If a business has multiple owners, it is always advantageous to hire an attorney for help with organizing the business. Your attorney can help you determine how your business should be fairly divided in terms of equity and responsibility. Also, any profit sharing agreements and partnerships can and should be properly documented in writing by your attorney so that future disputes can be easily solved or prevented altogether.

Your attorney can help you obtain permits

Your attorney can also help you obtain every license that is necessary for the operation of your business. This can include any permits needed to operate your business in Florida, intellectual property rights, arranging agreements and more. For some businesses this can be a complicated process, however the financial consequences of operating a business without permits can be quite severe. Also, if any permit or license issue arises in the future, your attorney will already be knowledgeable about your business and will help you navigate through the problem quickly and cost effectively.

Mark Schecter is an experienced South Florida business formation attorney who can answer any questions that you may have during the process of starting a new business. Contact Schecter Law today if you have any questions at all about your business or for a consultation.

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Changes Regarding Liability, Statement of Authority, and More in Florida’s New LLC Act from a Fort Lauderdale Business Acquisition & Sales Attorney http://www.schecterlaw.com/2014/06/23/changes-regarding-liability-statement-authority-floridas-new-llc-act-fort-lauderdale-business-acquisition-sales-attorney/ http://www.schecterlaw.com/2014/06/23/changes-regarding-liability-statement-authority-floridas-new-llc-act-fort-lauderdale-business-acquisition-sales-attorney/#respond Mon, 23 Jun 2014 13:22:44 +0000 http://www.schecterlaw.com/?p=2904 If you have an LLC in the state of Florida or will be registering one this year or in the future, you have probably heard about the numerous changes in Florida’s New LLC Act. Consult an experienced Fort Lauderdale business acquisition & sales attorney at Schecter Law today to learn more about how these changes [...]

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If you have an LLC in the state of Florida or will be registering one this year or in the future, you have probably heard about the numerous changes in Florida’s New LLC Act. Consult an experienced Fort Lauderdale business acquisition & sales attorney at Schecter Law today to learn more about how these changes will affect you and your business.

Changes in Member and Manager Liability for Inaccurately Filed Information

The New LLC Act requires members of member-managed LLCs (or managers of manager-managed LLCs) to maintain accurate information in the LLC’s articles of organization. This requirement is for LLCs registered in Florida as well as LLCs registered outside of Florida that are authorized to transact business in the state.

Incorrect information must be updated, and in some circumstances incorrect information may lead to liability for managers or members if a third party has financial losses due to reliance on any inaccurate information. It is strongly suggested to contact a knowledgeable Fort Lauderdale business acquisition & sales attorney for advice regarding inaccurately filed information if you believe this statute may affect your LLC.

Statement of Authority in the New LLC Act

The Statement of Authority change gives an LLC a new method for providing notice to third parties regarding the authority of a position in the LLC. The Statement of Authority is used to clear up any confusion about the parties allowed to bind an LLE, and each Statement of Authority is valid for a period of five years. There are a number of provisions and issues related to this provision that should be discussed with your Fort Lauderdale business acquisition & sales attorney before filing a Statement of Authority document.

A Statement of Authority document may be invalidated several ways. For instance, a third party may file a Statement of Denial if they are named in a Statement of Authority, and deny the grant of authority. If you have any questions on how the new Statement of Authority rules may apply to your LLC, it is recommended that you contact an experienced Fort Lauderdale business acquisition & sales attorney.

Contact a Fort Lauderdale Business Acquisition & Sales Attorney Today

With the New LLC Act, Florida LLCs have many more rules, regulations, conditions, and options today than ever before. Mark Schecter at Schecter Law is an experienced Fort Lauderdale business acquisition & sales attorney  who can explain the new provisions and how they apply to your LLC to you today.

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Fort Lauderdale Business Formation Attorney: The Revised Florida LLC Act Eliminates the Concept “Managing Member” http://www.schecterlaw.com/2014/06/20/fort-lauderdale-business-formation-attorney-revised-florida-llc-act-eliminates-concept-managing-member/ http://www.schecterlaw.com/2014/06/20/fort-lauderdale-business-formation-attorney-revised-florida-llc-act-eliminates-concept-managing-member/#respond Fri, 20 Jun 2014 11:59:58 +0000 http://www.schecterlaw.com/?p=2901 The Revised Florida LLC Act has eliminated the concept of a “managing member” which the Existing Act uses. There are two main recognized structures for LLCs: “member-managed” and “manager-managed”. The Existing LLC Act offered an extra option that allowed an LLC to be managed by “managing-members” which was eliminated in the New Act due to [...]

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The Revised Florida LLC Act has eliminated the concept of a “managing member” which the Existing Act uses. There are two main recognized structures for LLCs: “member-managed” and “manager-managed”. The Existing LLC Act offered an extra option that allowed an LLC to be managed by “managing-members” which was eliminated in the New Act due to the confusion that it created.

The New LLC Act may change a “managing-member” managed LLC into a “member-managed” LLC starting on January 1, 2015. As a result of this potential change, a “managing-member” with a broad authority under the Existing LLC Act may lose some of their authority when the New Act goes into full effect.

For instance, a “managing-member” who can take actions in the LLC without the vote of other members may no longer be able to take those actions without a majority vote from the LLC’s members once the New Act becomes active. Some control of an LLC could unintentionally pass to its members on January 1, 2015 as a result of the New LLC Act provisions.

LLCs that use the “managing-member” concept likely need to make adjustments to ensure that their preferred authority structure is maintained. A Fort Lauderdale business formation attorney at Schecter Law can meet with you to determine whether or not you need to amend your operating agreement.

Contact a Fort Lauderdale Business Formation Attorney for Advice before January 1, 2015

Throughout 2014, the only LLCs that are subject to the New Act are LLCs registered on January 1, 2014 or afterward. The New Act offers Florida LLCs that were registered prior to January 1, 2014 one year to readjust their organization before they are governed by the provisions of the New LLC Act on January 1, 2015.

An experienced Fort Lauderdale business formation attorney can also advise you on a number of additional ways to structure your organization in order to keep everything legal and compliant with the New LLC Act and ensure that your organization is managed exactly as you want it to be before it becomes subject to its laws on January 1, 2015.

Mark Schecter is an experienced Fort Lauderdale business formation attorney with detailed knowledge of the New LLC Act. Contact his office today to see how he can help you to form the proper entity and structure for your new business or update your existing operating agreement or articles of organization.

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Fort Lauderdale Business Acquisition & Sales Attorney: New Fairness Standards in the New Florida LLC Act http://www.schecterlaw.com/2014/06/17/fort-lauderdale-business-acquisition-sales-attorney-new-fairness-standards-new-florida-llc-act/ http://www.schecterlaw.com/2014/06/17/fort-lauderdale-business-acquisition-sales-attorney-new-fairness-standards-new-florida-llc-act/#respond Tue, 17 Jun 2014 14:46:25 +0000 http://www.schecterlaw.com/?p=2899 Fairness standards that are used to determine whether or not a contract is fair and reasonable to an LLC are clarified in the new Florida LLC act. The Existing Act did not provide any standards to determine if a transaction was considered fair and reasonable. The new changes offer more guidance in this area. Under [...]

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Fairness standards that are used to determine whether or not a contract is fair and reasonable to an LLC are clarified in the new Florida LLC act. The Existing Act did not provide any standards to determine if a transaction was considered fair and reasonable. The new changes offer more guidance in this area. Under these new provisions, a transaction will generally be considered fair if it is beneficial to the LLC and its members as a whole.

The Existing Act offered protections for a conflict of interest transaction as long as it is considered to be “fair and reasonable” at the time it is authorized. The Existing LLC Act also allowed for liability protections even if the fairness requirement was not met, as long as disinterested managers or members had full disclosure of the transaction.

The New LLC Act requires any transaction to be “fair to the LLC” even if it is approved by members or managers who are disinterested. In determining fairness, the New LLC Act takes into account whether or not the transaction in question is comparable to an independent arms-length transaction. Also, the New LLC Act clarifies the party that has the burden for proving fairness when there is a challenge to the validity of a transaction due to a conflict of interest.

The new LLC Act offers specific standards that are used to determine the fairness of a potential conflict of interest transaction, and does away with the vague “reasonableness” test. A Fort Lauderdale business acquisition & sales attorney can explain these fairness requirements to you and how they apply to your LLC in more detail.

The New LLC Act is a Default Statute

Just like the existing law, the New Act offers a number of rules that will apply in the case of an LLC not having an operating agreement. Your Fort Lauderdale business acquisition & sales attorney can explain these default rules to you.

For instance if the operating agreement or articles of organization of an LLC do not express whether or not the LLC is “manager managed” or “member managed” it will be automatically classified as “member managed”. A Fort Lauderdale business acquisition & sales attorney can explain default provisions to you as well as some of the non-waivable provisions.

Contact a Fort Lauderdale Business Acquisition & Sales Attorney Today

Mark Schecter at Schecter Law is an experienced Fort Lauderdale business acquisition & sales attorney. Contact our offices today to discuss your specific situation.

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Always Hire a South Florida Real Estate Lawyer Before you Sign a Contract http://www.schecterlaw.com/2014/05/21/always-hire-south-florida-real-estate-lawyer-sign-contract/ http://www.schecterlaw.com/2014/05/21/always-hire-south-florida-real-estate-lawyer-sign-contract/#respond Wed, 21 May 2014 11:55:27 +0000 http://www.schecterlaw.com/?p=2871  Signing a real estate contract before hiring a South Florida real estate lawyer is almost always a mistake and can result in major financial losses to you if an issue arises at any point after the contract has been signed. For instance, problems with the structure such as mold, flooding or foundation issues can spring [...]

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 Signing a real estate contract before hiring a South Florida real estate lawyer is almost always a mistake and can result in major financial losses to you if an issue arises at any point after the contract has been signed. For instance, problems with the structure such as mold, flooding or foundation issues can spring up later on and cost you thousands of dollars long after the deal has been closed. A favorable contract will give you a remedy such as the termination of the agreement or a requirement for the seller to pay repair costs even after you have signed the contract. However, to guarantee that the contract is favorable to your interests, you will need to hire an experienced attorney prior to signing the contract. No matter what type of real estate contract you may be dealing with, you should hire a lawyer prior to signing it. As a buyer you will have a much stronger position when it comes time for preliminary or final negotiations. As a seller it is almost always a must to have a lawyer draft the initial purchase agreement and handle other important matters related to the sale of the property.

You cannot assume that your real estate agent will be able to review your contract and give you advice on it. Many people mistakenly rely on their real estate agent to consult with them if legal questions arise during contract negotiations and are totally unaware that their agent cannot legally advise them on these matters at all. Real estate agents can help with many aspects of the process of finding a property, but when it comes time to draft and review the contract, buyers and sellers should both rely on a South Florida real estate attorney to represent them. The flat rate cost for a South Florida real estate lawyer is well worth avoiding the potential hassles and financial headaches resulting from legal issues that weren’t spotted during negotiations or at closing.

Out of town purchases, properties susceptible to weather damage, and short sales or foreclosures will have complex contracts and should be handled by a veteran South Florida real estate lawyer to avoid mistakes, not a real estate agent. Experienced real estate attorneys have seen hundreds of real estate contracts and know how to spot any terms in the contract that are contrary to your interests. Call Schecter Law today if you need an experienced and a highly skilled real estate attorney to represent you before you sign your real estate contract

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First Time Buyers Should Hire a Fort Lauderdale Real Estate Attorney to Review Their Contract http://www.schecterlaw.com/2014/05/19/first-time-buyers-hire-fort-lauderdale-real-estate-attorney-review-contract/ http://www.schecterlaw.com/2014/05/19/first-time-buyers-hire-fort-lauderdale-real-estate-attorney-review-contract/#respond Mon, 19 May 2014 13:05:20 +0000 http://www.schecterlaw.com/?p=2873  Although everyone should hire a Fort Lauderdale real estate attorney to review their real estate agreements, it’s especially important for first time buyers to hire a lawyer right at the beginning of negotiations or even prior to negotiations. First time buyers do not have the experience to be able to review the terms of a contract on [...]

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 Although everyone should hire a Fort Lauderdale real estate attorney to review their real estate agreements, it’s especially important for first time buyers to hire a lawyer right at the beginning of negotiations or even prior to negotiations. First time buyers do not have the experience to be able to review the terms of a contract on their own or even with the help of their real estate agent. Real estate contracts have simply too much to understand for first time buyers (or even experienced buyers for that matter) and the terminology can often be overwhelming. Although most contracts are written in plain language, there are terms that have been used for decades that are not easy to understand. The terms of the contract are also legally binding and should never be overlooked even in the excitement of a first time home purchase.

Moreover, nothing should ever be agreed upon verbally prior to closing, and this is a mistake that a first time buyer can easily make without the guidance of a Fort Lauderdale real estate attorney. For instance, if there are appliances that are to be included with the home, those specific appliances need to be outlined in the contract.   If you are a first time buyer, don’t make the mistake of assuming that a “standard contract” will work for you and that you won’t need to have an attorney review it. There really is no such thing as a standard contract, and in many cases a standard contract will be altered by the seller so that the terms are more favorable to their side.  By having a Fort Lauderdale lawyer available for contract negotiations, you will have the opportunity to change any terms of the contract that may be unfavorable.  Never sign a contract without having your own attorney present to review the contract and make any last minute changes, especially for your first home.

Terms that may be negotiated by your Fort Lauderdale real estate attorney include finance terms, seller assistance for the closing costs , home inspection clauses that allow the buyer to walk away if there are significant defects found after an inspection, fixtures and appliances included in the home and much more. Only a skilled Fort Lauderdale real estate attorney will be able to successfully negotiate and include these potentially crucial contract terms.   If you are a first time buyer, Schecter Law can help you with your real estate negotiations. Call Schecter Law today for more information on our legal representation services for first time buyers and all other real estate buyers.

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The Most Common Real Estate Disputes by a South Florida Real Property Litigation Lawyer: Part 2 of 2 http://www.schecterlaw.com/2014/05/15/common-real-estate-disputes-part-2-2/ http://www.schecterlaw.com/2014/05/15/common-real-estate-disputes-part-2-2/#respond Thu, 15 May 2014 12:44:40 +0000 http://www.schecterlaw.com/?p=2381 Below are a few more of the most common real estate disputes that can occur. If you find yourself involved in these real estate disputes or others, don’t hesitate to call a skilled South Florida real property litigation lawyer immediately to guarantee that your best interests are represented. Zoning disputes Zoning disputes can arise when [...]

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Below are a few more of the most common real estate disputes that can occur. If you find yourself involved in these real estate disputes or others, don’t hesitate to call a skilled South Florida real property litigation lawyer immediately to guarantee that your best interests are represented.

Zoning disputes

Zoning disputes can arise when developers want to build in a certain area and encounter resistance with local planning boards. Construction delays as a result of zoning problems can end up being detrimental to a project, so it is important to handle zoning disputes as soon as possible. It is usually necessary to hire a skilled South Florida real property litigation lawyer if there are any zoning disputes, as an attorney will be able to obtain permits quickly and allow projects to proceed without delays.

Contact clause disputes

There are many types of contract clause disputes that a lawyer can negotiate and resolve. These disputes can involve prepayment penalty clauses for mortgage contracts, mediation clauses, and many others. A mediation clause requires both parties to resolve a real estate dispute through a mediator, and it is a non-binding process. Mediation clauses can be optional or mandatory depending on the type of contract. No one should ever sign a real estate contract with a mediation or arbitration clause with first consulting with an experienced attorney.

Don’t sign a contract or handle a dispute without consulting a South Florida real property litigation lawyer

Only a knowledgeable attorney can advise on whether or not a particular contract is favorable to a client and can resolve problems with a contract before expensive disputes arise in the future. Contact Schecter Law today for legal advice on any type of contract or real estate dispute to ensure that your interests are represented.

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