Articles of Interest
Baldwin Law Office assists Lewis Uniform with aquisition
Service Members Get Extra Year for Tax Credit
Members of the U.S. military, foreign service and intelligence communities have another year to purchase a home and claim the home buyer tax credit. Any service member who is or has been on extended duty for 90 days or more between Jan. 1, 2009 to April 30, 2010, has until April 30, 2011, to sign a sales contract and until June 30, 2011, to close on the property. Both the $8,000 first-time and the $6,500 repeat home buyer tax credits are included in the extension.The rule that requires buyers to repay the credit if they move out of their home within three years has also been waived for qualified service members if they receive government orders to move.Source: The National Association of Home Builders (04/26/2010)
FEMA sets new flood map areas- affecting Central New York
For information regarding how the new statutory Power of Attorney is used in real estate purchases and sales
From The Real Property Law Section of the Onondaga County Bar Association:
The Committee on Professional Ethics of the New York State Bar Association issued Opinion No. 817, regarding attorneys’ participation in purchases and sales closings of residential real estate. In matters where the transaction includes a “seller’s concession” and a “grossed up” sale price, essentially, the opinion holds that an attorney may not participate in such transactions unless the “gross up” of the purchase price, and the concomitant seller’s concession are disclosed in transaction documents such as HUD-1s and closing statements so as to avoid deception or misrepresentation
Mortgages as Fixture Filings.
Attorney Advertising
