Summarized – 2022’s Real Estate Market Predictions
Randy Gilbert, J.D. Chief Happiness Officer Florida’s Title Insurance Company [email protected] (954) 500-Title (8485) On the Rise. In 2022, Housing prices, rents, mortgage rates, home sales, and income/wages/salary/paychecks are all expected to rise. 2022 will hit the 2nd highest sales level in 15 years, defeated only by 2021. Inventory will increase, but not enough. Inventory will
Real Estate Closings Afterhours And on Weekends – Real Time Payments (RTP®)
Randy Gilbert, J.D. Chief Happiness Officer Florida’s Title Insurance Company [email protected] (954) 500-Title (8485) Consumer Expectations. It starts with the consumer experience. We all want things to happen as quickly, easily, and securely as humanly possible. Think back 10 years ago, and you were perfectly happy receiving a package within five (5) business days. Nowadays,
Real Estate’s 2021 Legislative Changes and Updates
Randy Gilbert, J.D. Chief Happiness Officer Florida’s Title Insurance Company [email protected] (954) 500-Title (8485) Fla. Stat. §119.07 Inspecting Public Records Prohibits an agency receiving a public record request from responding to the request by filing an action for declaratory relief against the requester to determine whether that record meets the definition of a public record
Get Your $#!T Out of My House!
Randy Gilbert, J.D. Chief Happiness Officer Florida’s Title Insurance Company [email protected] (954) 500-Title (8485) In real estate, buyers commonly ask if they can place their stuff in the home before they even bought the home. Conversely, sellers commonly ask if they can keep their personal property in the home for a limited time after the
Undoing Deeds – Disclaiming Property Rights
Randy Gilbert, J.D. Chief Happiness Officer Florida’s Title Insurance Company [email protected] (954) 500-Title (8485) Scenario #1 – Disinterested. The first thought cloud that popped into to my head was: two (2) people in a car get pulled over, the passenger throws his bag of drugs to the driver and says, “here it’s yours!” The driver
Real “Estates” – How Should I Take Ownership?
Randy Gilbert, J.D. Chief Happiness Officer Florida’s Title Insurance Company [email protected] (954) 500-Title (8485) Why is it called Real Estate? Florida has a limited number of estates in land. The term ‘’estates’’ refers to interests in land. This article discusses types of estates recognized in Florida. I. Fee Simple Absolute a/k/a Fee Simple. “A
Giving the Bird. The Lady-Bird Deed.
Randy Gilbert, J.D. Chief Happiness Officer Florida’s Title Insurance Company [email protected] (954) 500-Title (8485) History behind the Lady Bird Deed – Myth Busted. “When you have a choice of printing the truth or the legend—print the legend.”[1] Many still believe the origin of the “Lady Bird Deed” came from an ingeniously drafted deed first used
Buying Property With Bitcoin – Unlikely
Randy Gilbert, J.D. Chief Happiness Officer Florida’s Title Insurance Company [email protected] (954) 500-Title (8485) But there is a way. When buying real estate, there is nothing more reassuring to a seller than when a buyer pays using a good-old-fashioned irrevocable wire transfers. But with the advent of digital currencies, consumers want to instantly transfer money
FAIRNESS OF “FAIR MARKET VALUE”
Randy Gilbert, J.D. Chief Happiness Officer Florida’s Title Insurance Company [email protected] (954) 500-Title (8485) The unfairness of “Fair Market Value” (FMV) is, well… who is to say what dollar amount is considered fair? That was a question Virginia’s Supreme Court in Wilburn v. Mangano, 851 S.E. 2d 474 (Dec. 10, 2020) had to decide
NEW CORPORATE OWNERSHIP DISCLOSURE LAW
Randy Gilbert, J.D. Chief Happiness Officer Florida’s Title Insurance Company [email protected] (954) 500-Title (8485) On January 1, 2021, Congress passed the Corporate Transparency Act (“CTA”) establishing new mandatory self-reporting requirements for corporations, LLCs, and similar entities. As of this article, reporting forms are not available, however the Department of Treasury charged FinCEN (Financial Crimes
The 411 on §1031 Exchanges
§1031 in a Nutshell. Assume an investor wants to sell a property for a $200,000 profit. The profit is subject to taxation. To put it in numbers, federal income tax brackets range from 10% for the lowest earners to 37% for the highest earners. So, a total tax bracket of approximately 35%, could result in a capital
Realtor Resolutions – Maybe in 2021
Randy Gilbert, J.D. Chief Happiness Officer Florida’s Title Insurance Company [email protected] (954) 500-Title (8485) Resolutions are short lived and fade by February. A goal on the other hand is a dream with a deadline. – Napoleon Hill. So when you set your goal, commit to making yourself S.M.A.R.T.E.R.; that is, make your goals