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My commercial property is currently under court appointed

my commercial property is currently under court appointed receivership. I am seeking legal help in order to fight this order.JA: Since laws vary from place to place, what state is this in?Customer: Atlanta, GeorgiaJA: Has any paperwork been filed?Customer: YesJA: Anything else you want the lawyer to know before I connect you?Customer: I just received a motion to authorize the sell of the property. thanks

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Law Educator, Esq.

Attorney At Law

Doctoral Degree

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I am in a commercial property lease with another person, we

I am in a commercial property lease with another person, we share a space together. I have already signed the lease for another year. The other person I share with does not want to sign the lease unless it is guaranteed that within 6 months, I am out of the space. She no longer wants to share. The landlord said that he will make up a new lease for 6 months since she was in the space first, but I already signed the 1 year lease. Does the lease that I signed already for a year carry any weight, and do both of us have to be on the same lease? If we are on separate leases, can either one of us make the other leave????

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Loren

Juris Doctor

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We live in rural upstate New York in a small development.

We live in rural upstate New York in a small development. There are covenants and restrictions for the parcel within the development. In the covenants it states "The parcels of land hereby conveyed shall be used for residential purposes only and shall not be used for commercial purposes". One adjoining property is owned by a couple from New Jersey who rent the house using www.vrbo.com. They were required by the town to obtain a permit to do so. A second adjoining property has recently been purchased in a corporate name and is going to be used as a guest house extension from a B&B which not a part of the development. My feeling is that these properties are now being used as commercial properties and would not be allowed by the covenants. If so what can I do and what results could I expect.

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Barrister

Attorney/Landlord/Realtor

Doctoral Degree

53,196 satisfied customers
Pearl, I have written out my scenario that I need advice on,

Pearl, I have written out my scenario that I need advice on, but it is about 3000 characters...what is the best way to proceed.JA: Where is the property located?Customer: Central TexasJA: Has any paperwork been filed?Customer: No legal filings, but it involves a ltd partnership where the elderly GP signed 2 deeply discounted contracts for commercial property 1) without 80% of partner agreement and 2) 2 days after a stroke, while in the hospital and on IV narcotic pain meds - she is 82 and has no memory of even signing the contracts.JA: Anything else you want the lawyer to know before I connect you?Customer: Background: Ltd partnership is in 2 contracts which an elderly General partner did not have authority to sign and signed while in hospital, on narcotics, 2 days after a stroke. Ltd partners got involved after stroke when they found out these 2 contracts had been deeply discounted, GP didn't remember signing them 2 days later and also disagreed. 1 of the disputed contracts has only the GP's initial on the execution line of the TREC form and both have unmodified TREC feasibility clauses of 21 days. Escrow earnest money was receipted 7 days after date signed. On Day 14, 22 and 24th after signing, all partners communicated to realtor via text, email and several verbal and in person conversations that they wanted contracts voided due to GP diminished capacity and lack of authority to sign. They also wished to be released from a 12-month listing agreement for any remaining properties (over 20) not currently under contract.(SEE REPLY BELOW FOR REMAINDER OF POST)Realtor responded that she and the buyers believed contracts to be valid and that they would proceed with appraisals, surveys, financing, etc. Sellers told realtor not to proceed, verbally and via email, including letters from their attorney, but actions continued to be taken up through Day 38. Realtor refused to release sellers from 12-month listing agreement for the remaining properties. On Day 41, sellers discovered realtor had not told buyers anything. On day 43, 1 of the buyers contacted the sellers directly - he had only been told 2 days prior and had expended 5-10K getting appraisals, surveys and financing confirmed between Day 7 and Day 43.The sellers questions are several:1) What is the true "effective date" of the contracts- is it the day signed (day 1) or the date the escrow earnest money is received (day 7)?2) Do initials only on signature line constitute a valid TREC contract?3) Do the partners have any non-legal recourse to force the realtor/broker to void the listing agreements for all remaining properties?3) What SHOULD the realtor/broker have done based on their license requirements?4) If buyers sue sellers for damages, should sellers sue the realtor?5) Do all brokers have to carry Errors & Omissions insurance?6) Should we attempt to contact 2nd buyers realtor to make sure messages are being relayed?

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Irwin Law

Juris Doctor JD

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I have a Condo that I am currently renting to tenants. The

I have a Condo that I am currently renting to tenants. The Condo has a second mortgage (equity line of credit) that is variable and the payments will balloon in a few of months.I would like to refinance and use the current equity to merge it into a single loan. I should have enough equity to do this as my primary residence but not as a rental property.I have already given the current tenants 60 day notice for other reasons (the were problematic.) I am willing to move back in to the unit. Is it legal/ethical to get a load with it as a primary residence? Do I have to already live in it while applying for the loan, or can I just move back in before the loan closes?I'm looking for advice, I'm a bit nervous to talk to my bank without understanding these issues first. Thanks.

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Lucy, Esq.

Juris Doctor

33,546 satisfied customers
I own a commercial property in Vermont. There are 3

Hello. I own a commercial property in Vermont. There are 3 landlocked landowners behind us who have an easement thru our property to reach the main road.The dead on his property says "The grantee shall have the right to maintain at all times electrical and telephone service to the land premises hereby conveyed with the wire lines therefor being at such reasonable location as the grantor may from time to time direct, but with relocations thereof being at the expense of the grantor".Last week a tenant of the property owner called the cable company to run cable TV to his house. They ran the wires haphazard across our property nailed to the trees to reach his house. They did not call us to ask permission and we did not authorize the wires to be run above ground, as all other wires on our property are below ground. I called the cable company and made them take it down.The tenant is screaming that he will sue us and that he is going to ask a judge for damages.My take on it is that the deed requires that the wires be run in a reasonable way approved me the grantor (me). If I then decide that they need to be moved at a later date, like if I decide that I want to build another building right where his wires are traveling, then they need to be moved at my expense.It is also my take that running wires haphazardly attached to trees is neither safe, code complaint, nor reasonable.It is also my take that the easement does not even give him the right to run cable tv, just electric and telephone. He claims he is ordering VOIP telephone service from the cable company, so he is within his rights to run the wire. He also claims the easement gives him the right to run the wires "wherever he damn pleases and if we don't like it we can pay to move it".Does his argument hold water? Do I really need to let him run wires stapled to my trees? Does he even have any rights as a tenant and not the actual property/easement holder?

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Barrister

Attorney/Landlord/Realtor

Doctoral Degree

53,196 satisfied customers
We sold a commercial property and hold a note for the

We sold a commercial property and hold a note for the majority of the sale price. We have discovered the borrower/trustee has given easements (for $ and other valuable considerations) as well as taken out another loan against the property. We are very uncomfortable with their intentions at this point. Can we call the loan?JA: Because real estate law varies from place to place, can you tell me what state this is in?Customer: CAJA: Has any paperwork been filed?Customer: What kind of paperwork are you talking? Original note, deed, etc. were recorded as well as recordings of these easements and new noteJA: Anything else you want the lawyer to know before I connect you?Customer: Those are the basics

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DrakeLAW

Juris Doctorate

1,268 satisfied customers
In a commercial real estate transaction, when would the

In a commercial real estate transaction, when would the common practice of selling a partial share interest in a building supersede a buy sell agreement? My late father-in-law's estate owns less than 10% of a commercial property, his late wife's estate owns about 80%, and her daughter owns the other 10.6% . The buy sell agreement obligates my father-in-law's estate to sell to the other parties and obligates them to buy. The agreement specifies that the sales price is to be calculated based on an agreed upon appraisal, less loans, liens and incumberances times his percentage of ownership. It's an easy calculation that results in $252k. However, the buyers will only pay $193k because it is common in these partial interest transactions to apply a fractional rate discount of between 15 and 30%. My experience has been that a written agreement supersedes common practice and they owe us $252k instead of $193k. Thus we are at an impasse and thus my question.

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39,598 satisfied customers
I am looking at purchasing a property in sherrifs sale. The

I am looking at purchasing a property in sherrifs sale. The person i talked with in charge of the outstanding debt for the bank said all liens will be erased at the foreclosure sale besides theirs. Is that true or how do i find out had a title search and there are three liens on the property and numerous more but the property is not listed on the lien.JA: Since laws vary from place to place, what state is this in? And has any paperwork been filed?Customer: Wisconsin. Paperwork as in?JA: Has any paperwork been filed?Customer: There is paperwork filed on the building. Went into foreclosure process back in august and other liens or from past years.JA: Anything else you want the lawyer to know before I connect you?Customer: Do they need the address?

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legalgems

Juris Doctorate

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