Coronavirus PSA (&What to Do as a Landlord)

 

In these ever-changing times, we’ve been updating almost daily on our Facebook page. Check us out here.

We’ve been taking in information from some smart people over at the Dr. Joe Show about protocols and how to handle this virus. Something really important is to let others know who is sick. Don’t keep it on the “DL,” everyone needs to know if they have had contact with someone who tests positive so that they can protect others. Keeping that information secret will not help flatten the curve.

Now, a note to landlords: a lot of our tenants will be losing their jobs soon. How can we handle this? First and foremost, make sure to communicate with them and ask how they are doing. See what you can do to help. Secondly, you should talk about how to proceed in light of the current and near future hardships. Work together to deal with rent and mortgage and be open. Perhaps figure out what they can afford and worry about the rest later.

On a final note, we were a sponsor for the annual Marshfield Education 5K. As a result of this no longer happening, we have a lot of unused Gatorades. Since the virus may come with a heavy bout of dehydration, we would be happy to deliver these extra drinks to anyone in need of them.

If you’re feeling the symptoms, it’s Tylenol, vitamin C and hydration.

While practicing safe spacing, we’re available for your conversations virtually. No obligations. If you have any questions or concerns, contact us by calling (781) 319-1900.

Copyright © 2019 Stiles Law, All rights reserved. Stiles Law is a Massachusetts licensed law firm and all content is based on Massachusetts law. The information presented above is meant to be used for general informational purposes and it should not be construed as legal advice or legal opinion on any specific facts.

Coronavirus Federal Relief Scams

 

Beware of financial relief scams! During this time of uncertainty, our elders are especially vulnerable to phone calls from scam artists.

Have conversations with the senior citizens in your life about not falling prey to calls regarding government-issued relief acts, like a check that may come in the mail for them. These calls will ask for banking info, social security info, etc. Remind them the government is never going to call and ask for these things.

Be diligent. Cyber attackers are coming in full force with phishing expeditions to try and fool people. Remind our senior citizens not to give out their info or be taken advantage of. They can be trusting and may believe there’s an honest person on the line.

Also consider they may have already been duped and are too embarrassed to tell anyone. We must keep the vultures at bay in this troubling time.

Phones and email lines are always open over at Stiles Law. If you have any questions about financial relief scams, contact us by calling (781) 319-1900.

Stiles Law, with offices located in Boston and Marshfield, Massachusetts, is a firm concentrating in real estate conveyancing and mortgage lending services, representing buyers, sellers, borrowers, banks, mortgage companies, investors, builders and developers in all of their real estate and mortgage transactions. Stiles Law serves all areas of eastern Massachusetts–the North Shore, Boston, and Cape Cod, in addition to the entire South Shore, including: Plymouth, Kingston, Duxbury, Hanover, Pembroke, Marshfield, Scituate, Norwell, Cohasset, Hull, Hingham, Weymouth, Braintree, and Quincy.

Copyright © 2019 Stiles Law, All rights reserved. Stiles Law is a Massachusetts licensed law firm and all content is based on Massachusetts law. The information presented above is meant to be used for general informational purposes and it should not be construed as legal advice or legal opinion on any specific facts.

What is the Difference Between Nominee and Assignee?

 

A question came up during our Real Estate class asking, “What is the difference between a nominee and an assignee?” A buyer usually has the right to nominate a nominee to purchase the property. This has no impact on the seller. Common nominees include estate planning revocable trusts, real estate investment trusts, LLCs or corporations. A nominee is ordinarily a related entity to the buyer named in the purchase and sale agreement.

An assignment occurs when the buyer assigns their interest in the purchase and sale agreement to someone else. An assignee is an entirely different person or entity. As a seller, with an assignee, be aware that it may be someone else at the closing. What does that mean? The assignee will “step into the shoes” of the buyer, attend the closing and be bound by the terms of the purchase and sale agreement. The purchase and sale agreement may not permit an assignment without permission of the seller.

Using a nominee can be helpful with estate planning. Buyers who may want to name a nominee should include “or my nominee.” Without this language, a buyer may be forced (depending on the circumstance) to close in your name.

If you have any questions about selling your home or buying a home, contact Stiles Law by calling (781) 319-1900.

Copyright © 2019 Stiles Law, All rights reserved. Stiles Law is a Massachusetts licensed law firm and all content is based on Massachusetts law. The information presented above is meant to be used for general informational purposes and it should not be construed as legal advice or legal opinion on any specific facts.

What’s Considered a Fixture?

 

Another question from one of our referral partners, “In the purchase and sale agreement, there’s a clause that talks about ‘fixtures.’ Can you help me understand what exactly a fixture is?”

This is a common question. One of the real estate agents who attends our real estate school gave a great explanation recently: If it is glued or screwed, it’s a fixture.

Another real estate agent in our school mentioned their favorite explanation: if you were to flip over your house, anything that falls to the inverted roof is not a fixture.

If you have any questions about selling your home or buying a home, contact Stiles Law by calling (781) 319-1900.

Copyright © 2019 Stiles Law, All rights reserved. Stiles Law is a Massachusetts licensed law firm and all content is based on Massachusetts law. The information presented above is meant to be used for general informational purposes and it should not be construed as legal advice or legal opinion on any specific facts.

Beach Rights

 

We received another question from a viewer: “I have a client whose property I am about to list. They tell me they have deeded beach rights. Should I disclose this in my listing?”

If it adds value to the property you absolutely want to add this to your listing and marketing materials. That said, we as a real estate professional are hearing this piece of information from our client. We trust what they are telling us, but also should make sure to verify.

Deeded rights are specific rights and you will want to make sure that you describe them accurately. You should look at the owner’s deed and make sure that the beach rights are actually mentioned in the deed. Sometimes it is through a homeowner’s association and sometimes it is noted onto their deed.

Just because the owner has thought they have beach rights and have used the beach without any issues, does not actually mean they have deeded rights. We advise real estate professionals and sellers to make sure this is confirmed before you list the property and state that you have those rights.

In conclusion, trust but verify! Go to the Registry of Deeds to verify the beach rights exist and then make those disclosures. You do not want to be accused of “misrepresentation of a material fact.”

If you have any questions about Beach Rights contact us by calling (781) 319-1900.

Copyright © 2019 Stiles Law, All rights reserved. Stiles Law is a Massachusetts licensed law firm and all content is based on Massachusetts law. The information presented above is meant to be used for general informational purposes and it should not be construed as legal advice or legal opinion on any specific facts.