Monday, February 28, 2011
@huffingtonpost.com: US Banks, Improper Foreclosure Practice Punishment coming! Mistaken Foreclosure: Bank Disorganization http://dld.bz/5Ewv http://amplify.com/u/bs1sw
Thursday, February 24, 2011
@people.com: Hugh Hefner & Crystal Harris have June Wedding Date! Boomer Prenups: Sign Now or Ever Hold Your Peace! http://dld.bz/q8h4 http://amplify.com/u/brnor
@washingtonpost.com: Gay Rights Victory! Obama administration won't defend Defense Marriage Act! Same-Sex Marriages in Tx http://dld.bz/FzxK http://amplify.com/u/brngx
Tuesday, February 22, 2011
Defining Real Estate Documents (Property Deeds, Deeds of Trust, & Real Estate Lien Note (Promissor
A deed is a legal instrument that transfers a property right in real estate. The most common types of property deeds are as follows:
Quitclaim Deed
Warranty Deed
-Special Warranty Deed – with or without retained Vendor’s Lien
-General Warranty Deed
Deed Without Warranty
Other real estate documents discussed herein include:
Deed of Trust
Real Estate Lien Note (Promissory Note)
Deed of Trust to Secure Assumption
Quitclaim Deed
Quitclaim deed conveys any title, interest, or claim of the grantor in the real property, but it does not profess that the title is valid nor does it contain any warranty or covenants of title. Thus, a quitclaim deed does not establish title in the person holding the deed, but merely passes whatever interest the grantor has in the property.” Diversified, Inc. v. Hall, 23 S.W.3d 403 (Tex. App.–Houston [1st Dist.] 2000, pet. denied).
There seems to be some misconception that a Quitclaim Deed is a simple and inexpensive means of selling land or solving real estate problems. People are shocked to learn that Quitclaim Deeds are sometimes worthless in Texas.
Does this mean that a Quitclaim Deed should never be used? No.
Quitclaim Deeds can be useful in clearing title in some limited circumstances, such as when there is a question about whether a particular heir might have a claim to the property of an estate, or whether a person may have acquired title by adverse possession (“squatter’s rights”). However, in most cases it is preferred to use another kind of deed.
Warranty Deeds
The Warranty Deed is a legal document where the seller, or grantor, guarantees to the buyer, or grantee, that the real property being purchased is free from any mortgages, liens, or other encumbrances. If it is a general warranty deed, the guarantee extends back to the property’s origin. In contrast, if it is a special warranty deed, the seller only guarantees that there are no mortgages, liens, or other encumbrances while he or she has owned the property.
A warranty deed thus provides a method of transferring ownership or title in real estate that offers protection to the buyer. This is the case because the seller warrants, or guarantees, that he or she legally owns the property. An individual purchasing property or a bank lending money for the seller to purchase the property typically does not want to discover that the property has tax or mechanical liens or outstanding mortgages after the transaction is complete. If a seller provides a warranty deed and then the buyer later discovers an unpaid lien or other financial encumbrance, the buyer can seek legal action against the seller. Because sellers could die, have limited financial resources, or declare bankruptcy, real estate transactions involving warranty deeds often are accompanied by title searches and title insurance.
A Special Warranty Deed covenants to the buyer that the seller has not personally done anything to adversely affect the title being conveyed since inception of Seller’s title to the date of conveyance.
A General Warranty Deed covenants with the buyer that not only has the seller not personally done anything to adversely affect the title being conveyed, but neither has anyone else who has ever owned the property ostensibly as far back as the original Spanish land grants.
Deed Without Warranty
Another form of deed, which is neither a Quitclaim Deed nor a Warranty Deed, but rather something in between is a Deed Without Warranty. Like the Warranty Deed, a Deed Without Warranty uses the “grant, sell and convey” language to establish title in the buyer. Like a Quitclaim Deed, though, a Deed Without Warranty makes no warranties or covenants of title, so the seller has no liability for title defects. A Deed Without Warranty is rarely appropriate in a sale transaction; however, because it offers much greater protection to the buyer without any additional risk to the seller it should be considered as an alternative whenever a Quitclaim Deed might otherwise be used.
Other Real Estate Documents
Deed of Trust
A Deed of Trust is a deed wherein legal title in real property is transferred to a trustee, which holds the deed as security for a loan (debt) between a borrower and lender, e.g. home mortgage documents.
Transactions involving trust deeds are normally structured so that the lender gives the borrower the money to buy the property, the seller executes a Special Warranty Deed conveying the property to the Purchasor/Borrower, and the borrower immediately executes a trust deed conveying the property to the trustee to be held in trust for the lender. Trust deeds differ from mortgages in that trust deeds always involve at least three parties, where the third party holds the legal title, while in a mortgage, the mortgagor gives legal title directly to the mortgagee. In either case, equitable title remains with the borrower.
Real Estate Lien Note (Promissory Note)
A Promissory Note is a written promise to repay a loan or debt under specific terms – usually at a stated time, through a specified series of payments, or upon demand.
A promissory note will identify the parties, the amount of the obligation, some form of recitation of the consideration for the obligation (that is, what the debtor received in return for signing the note) and will usually include the terms of repayment, the interest rate which will apply, if any. It may also include an “acceleration clause” which will make the entire amount of the note due if a payment is missed.
Deed of Trust to Secure Assumption
A Deed of Trust to Secure Assumption is a second security trust document (or third or fourth, depending on how many prior liens are already in place at the time of a divorce or other assumption conveyance), which gives a party the right to take a home back if an ex-spouse or other party does not timely pay the mortgage. In this way, the Deed of Trust to Secure Assumption secures the ex’s obligation to assume the unpaid debt on the home
Quitclaim Deed
Warranty Deed
-Special Warranty Deed – with or without retained Vendor’s Lien
-General Warranty Deed
Deed Without Warranty
Other real estate documents discussed herein include:
Deed of Trust
Real Estate Lien Note (Promissory Note)
Deed of Trust to Secure Assumption
Quitclaim Deed
Quitclaim deed conveys any title, interest, or claim of the grantor in the real property, but it does not profess that the title is valid nor does it contain any warranty or covenants of title. Thus, a quitclaim deed does not establish title in the person holding the deed, but merely passes whatever interest the grantor has in the property.” Diversified, Inc. v. Hall, 23 S.W.3d 403 (Tex. App.–Houston [1st Dist.] 2000, pet. denied).
There seems to be some misconception that a Quitclaim Deed is a simple and inexpensive means of selling land or solving real estate problems. People are shocked to learn that Quitclaim Deeds are sometimes worthless in Texas.
Does this mean that a Quitclaim Deed should never be used? No.
Quitclaim Deeds can be useful in clearing title in some limited circumstances, such as when there is a question about whether a particular heir might have a claim to the property of an estate, or whether a person may have acquired title by adverse possession (“squatter’s rights”). However, in most cases it is preferred to use another kind of deed.
Warranty Deeds
The Warranty Deed is a legal document where the seller, or grantor, guarantees to the buyer, or grantee, that the real property being purchased is free from any mortgages, liens, or other encumbrances. If it is a general warranty deed, the guarantee extends back to the property’s origin. In contrast, if it is a special warranty deed, the seller only guarantees that there are no mortgages, liens, or other encumbrances while he or she has owned the property.
A warranty deed thus provides a method of transferring ownership or title in real estate that offers protection to the buyer. This is the case because the seller warrants, or guarantees, that he or she legally owns the property. An individual purchasing property or a bank lending money for the seller to purchase the property typically does not want to discover that the property has tax or mechanical liens or outstanding mortgages after the transaction is complete. If a seller provides a warranty deed and then the buyer later discovers an unpaid lien or other financial encumbrance, the buyer can seek legal action against the seller. Because sellers could die, have limited financial resources, or declare bankruptcy, real estate transactions involving warranty deeds often are accompanied by title searches and title insurance.
A Special Warranty Deed covenants to the buyer that the seller has not personally done anything to adversely affect the title being conveyed since inception of Seller’s title to the date of conveyance.
A General Warranty Deed covenants with the buyer that not only has the seller not personally done anything to adversely affect the title being conveyed, but neither has anyone else who has ever owned the property ostensibly as far back as the original Spanish land grants.
Deed Without Warranty
Another form of deed, which is neither a Quitclaim Deed nor a Warranty Deed, but rather something in between is a Deed Without Warranty. Like the Warranty Deed, a Deed Without Warranty uses the “grant, sell and convey” language to establish title in the buyer. Like a Quitclaim Deed, though, a Deed Without Warranty makes no warranties or covenants of title, so the seller has no liability for title defects. A Deed Without Warranty is rarely appropriate in a sale transaction; however, because it offers much greater protection to the buyer without any additional risk to the seller it should be considered as an alternative whenever a Quitclaim Deed might otherwise be used.
Other Real Estate Documents
Deed of Trust
A Deed of Trust is a deed wherein legal title in real property is transferred to a trustee, which holds the deed as security for a loan (debt) between a borrower and lender, e.g. home mortgage documents.
Transactions involving trust deeds are normally structured so that the lender gives the borrower the money to buy the property, the seller executes a Special Warranty Deed conveying the property to the Purchasor/Borrower, and the borrower immediately executes a trust deed conveying the property to the trustee to be held in trust for the lender. Trust deeds differ from mortgages in that trust deeds always involve at least three parties, where the third party holds the legal title, while in a mortgage, the mortgagor gives legal title directly to the mortgagee. In either case, equitable title remains with the borrower.
Real Estate Lien Note (Promissory Note)
A Promissory Note is a written promise to repay a loan or debt under specific terms – usually at a stated time, through a specified series of payments, or upon demand.
A promissory note will identify the parties, the amount of the obligation, some form of recitation of the consideration for the obligation (that is, what the debtor received in return for signing the note) and will usually include the terms of repayment, the interest rate which will apply, if any. It may also include an “acceleration clause” which will make the entire amount of the note due if a payment is missed.
Deed of Trust to Secure Assumption
A Deed of Trust to Secure Assumption is a second security trust document (or third or fourth, depending on how many prior liens are already in place at the time of a divorce or other assumption conveyance), which gives a party the right to take a home back if an ex-spouse or other party does not timely pay the mortgage. In this way, the Deed of Trust to Secure Assumption secures the ex’s obligation to assume the unpaid debt on the home
See this Amp at http://amplify.com/u/brd00
Monday, February 21, 2011
Some Help for Underwater Business Properties from SBA! http://dld.bz/NWEJ Your business real estate in trouble? Something to look into..... http://amplify.com/u/br6pg
@tmz.com: FEES MUST BE PAID NOW! Oksana's $15 Million Lawyer Sues Her! Why is This Divorce Costing So Much? http://dld.bz/Nprm http://amplify.com/u/br6hp
@huffingtonpost.com: Involved In A Never Ending Divorce? Know About Texas Divorce & How Long It Takes to Get Divorced? http://dld.bz/NVX4 http://amplify.com/u/br5xj
Friday, February 18, 2011
ARE YOU THINKING ABOUT WHAT HAPPENS IF YOU DIE WITHOUT A WILL IN TEXAS? http://dld.bz/ygny What about your family? http://amplify.com/u/bqsb4
@OMG.com: Why Mel Gibson's Ex Girlfriend Turned Down $16 Million? I Need A Dad: Fathers Role in Child Custody! http://dld.bz/2wDm http://amplify.com/u/bqs28
Thursday, February 17, 2011
Years of Living Divorcedly! How Divorce regressed Me into a (Giddy) Drinking, Smoking, Post-Adolescent! http://dld.bz/NwNJ Some Good Times! I needed it! http://amplify.com/u/bqk6i
@huffingtonpost.com: Was Actress Lindsay Lohan a child victim of a Bad Divorce? Torn Apart: Children and Divorce! http://dld.bz/HmVt http://amplify.com/u/bqk2n
Wednesday, February 16, 2011
My Divorce is Costing Me What? Why is This Divorce Costing So Much?
Financial costs of divorce may often be significant. Divorce lawyers, like any other professionals, are paid according to their skill, training and experience. In Texas, one can expect to pay an advance deposit from $2,500 to $25,000 depending on the complexity of the legal issues involved, as well as the quality and expertise of counsel selected. In addition to the legal fees, some cases require “expert testimony” regarding the value of certain significant assets, i.e. business interests, the marital residence, rental properties, art work and more.
One reason most experienced divorce lawyers want a substantial retainer is that once an attorney files an appearance, they are charged with duties in their role as an officer of the court. Under law and court procedure an attorney must make appearances and file specific legal documents with little or no discretion depending on the opponent’s conduct. Initial filings and other documents may appear deceptively simple, but can challenge even the most patient person. The devil truly is in the details, especially where haggling parties look for disagreement. Even minor issues can blow up, and evolve into unnecessary expense.
Divorces involve complicated issues and many times it is necessary to have a temporary hearing sooner rather than later to sort out legal and monetary issues for the pendency of the divorce proceeding. Who will continue living in the home? Who will make mortgage payments? Who will make payments on automobiles? Who will pay certain credit cards? Who will pay utilities? Who will maintain the property? Who will be responsible for the debts? All questions must be carefully considered and weighed out.
In divorces with child related issues there are more complicated factors to be considered. Who will receive primary custody of the children? Where will the children live and how often? What school will the children attend? How will their education be paid? How much child support will be paid? What visitation schedule will work for the parents and the children? How, when and where will the child exchange take place? Which parent will maintain health insurance? Will the child’s residence be restricted to a particular geographical area?
In all cases, marital assets must be divided; and even if there are few marital assets and only marital debt, there remains much to fight about, or resolve.
The state of Texas makes it unethical for lawyers to take a divorce action on a “contingency fee” basis. That leaves only two ways for a divorce lawyer to be paid: by the hour, which is the most common; or on a flat fee basis. Hourly fees in the Dallas/Ft. Worth metroplex area for a divorce lawyer range anywhere from $250 per hour to $550 per hour and up, depending on your choice.
In the cases where one party has a distinct financial advantage, the economically disadvantaged party can apply for temporary attorney fees and costs to be paid immediately by the party in control of the resources provided a fund is available for such use. In a proper case, such temporary motions often are granted by the trial court in order to level the playing field.
After every hearing, whether it concerns child related issues, marital assets, debts of the parties, or property owned by the parties, an order must be drawn by counsel based on either the court’s decision or the agreement of the parties. Many times these orders involve the drafting of further legal documents such as Deeds of Trust, Deeds of Trust to Secure Assumption; Special Warranty Deeds, and Real Estate Lien Notes relating to the parties home; Powers of Attorney to transfer title of automobiles; Wage Withholding Orders for the withholding of child support; and Austin forms (required by the Bureau of Vital Statistics in every divorce action). Often a Qualified Domestic Relations Order (QDRO) is necessary to divide retirement plans, accounts, pensions and the like. These are just a few of the necessary documents required in some divorce actions.
Bottom line is: the less the parties fight the less they will pay. Lingering animosities do not expedite resolution. Courts do not want to hear “he said/she said.” Whether that is right or wrong is for a social commentary, not a legal guide. That is why there are ‘irretrievable breakdown’ divorces.
Other factors that affect the cost of divorce are: whether the divorce is adversarial; how much you pay hourly for your legal counsel; if you and your spouse are battling over child custody issues involving children; the number of marital assets and debts you have to deal with; and whether your spouse’s attorney is unnecessarily aggressive and adversarial, without purpose.
When selecting a divorce lawyer know what you are looking for. Your counsel should be a person in whom you can put your total trust — after all your emotional health, the emotional health of your child(ren) and potentially the emotional health of your grandchildren could be at issue. The way to keep divorce costs under control is to select the right lawyer and to force your intellect to overrule your emotions when making decisions.
One reason most experienced divorce lawyers want a substantial retainer is that once an attorney files an appearance, they are charged with duties in their role as an officer of the court. Under law and court procedure an attorney must make appearances and file specific legal documents with little or no discretion depending on the opponent’s conduct. Initial filings and other documents may appear deceptively simple, but can challenge even the most patient person. The devil truly is in the details, especially where haggling parties look for disagreement. Even minor issues can blow up, and evolve into unnecessary expense.
Divorces involve complicated issues and many times it is necessary to have a temporary hearing sooner rather than later to sort out legal and monetary issues for the pendency of the divorce proceeding. Who will continue living in the home? Who will make mortgage payments? Who will make payments on automobiles? Who will pay certain credit cards? Who will pay utilities? Who will maintain the property? Who will be responsible for the debts? All questions must be carefully considered and weighed out.
In divorces with child related issues there are more complicated factors to be considered. Who will receive primary custody of the children? Where will the children live and how often? What school will the children attend? How will their education be paid? How much child support will be paid? What visitation schedule will work for the parents and the children? How, when and where will the child exchange take place? Which parent will maintain health insurance? Will the child’s residence be restricted to a particular geographical area?
In all cases, marital assets must be divided; and even if there are few marital assets and only marital debt, there remains much to fight about, or resolve.
The state of Texas makes it unethical for lawyers to take a divorce action on a “contingency fee” basis. That leaves only two ways for a divorce lawyer to be paid: by the hour, which is the most common; or on a flat fee basis. Hourly fees in the Dallas/Ft. Worth metroplex area for a divorce lawyer range anywhere from $250 per hour to $550 per hour and up, depending on your choice.
In the cases where one party has a distinct financial advantage, the economically disadvantaged party can apply for temporary attorney fees and costs to be paid immediately by the party in control of the resources provided a fund is available for such use. In a proper case, such temporary motions often are granted by the trial court in order to level the playing field.
After every hearing, whether it concerns child related issues, marital assets, debts of the parties, or property owned by the parties, an order must be drawn by counsel based on either the court’s decision or the agreement of the parties. Many times these orders involve the drafting of further legal documents such as Deeds of Trust, Deeds of Trust to Secure Assumption; Special Warranty Deeds, and Real Estate Lien Notes relating to the parties home; Powers of Attorney to transfer title of automobiles; Wage Withholding Orders for the withholding of child support; and Austin forms (required by the Bureau of Vital Statistics in every divorce action). Often a Qualified Domestic Relations Order (QDRO) is necessary to divide retirement plans, accounts, pensions and the like. These are just a few of the necessary documents required in some divorce actions.
Bottom line is: the less the parties fight the less they will pay. Lingering animosities do not expedite resolution. Courts do not want to hear “he said/she said.” Whether that is right or wrong is for a social commentary, not a legal guide. That is why there are ‘irretrievable breakdown’ divorces.
Other factors that affect the cost of divorce are: whether the divorce is adversarial; how much you pay hourly for your legal counsel; if you and your spouse are battling over child custody issues involving children; the number of marital assets and debts you have to deal with; and whether your spouse’s attorney is unnecessarily aggressive and adversarial, without purpose.
When selecting a divorce lawyer know what you are looking for. Your counsel should be a person in whom you can put your total trust — after all your emotional health, the emotional health of your child(ren) and potentially the emotional health of your grandchildren could be at issue. The way to keep divorce costs under control is to select the right lawyer and to force your intellect to overrule your emotions when making decisions.
See this Amp at http://amplify.com/u/bqi6t
Tuesday, February 15, 2011
Divorce is affected by our actions! What Goes Around Comes Around! http://dld.bz/NcQs Great article! Nacollawfirmblog.com http://amplify.com/u/bqcf0
Monday, February 14, 2011
My Children Are My Main Priority: Effective Co-Parenting
February 11th, 2011 Co-parenting with an ex-spouse or partner gives children stability and fosters similar rules, discipline and rewards between households. It promotes a child’s ability to more effectively and peacefully solve problems and establishes a life pattern children can carry into the future.
Effective co-parenting means that your own emotions – anger, resentment or hurt – must take back seat to the needs of your children. Setting aside these feelings may be the hardest obstacle to overcome after a divorce. It is important that you remember, co-parenting is not about your feelings, or those of your ex-spouse, but rather about your children’s future happiness and stability.
The following are useful tips to assist you with co-parenting in the future.
1.Do not talk negatively, or allow others to talk negatively, about the other parent, their family and friends or their home in hearing range of the child.
2.Do not question the children about the other parent or the activities of the other parent regarding their personal lives. In simple terms, do not use the child to spy on the other parent.
3.Do not argue or have heated discussions with the other parent when the children are present or during an exchange.
4.Do not make promises to the children to try and win them over at the expense of the other parent.
5.Communicate with the other parent and make similar rules in reference to discipline, bedtime routines, sleeping arrangements, and schedules. Appropriate discipline should be exercised by mutually agreed of both parents.
6.At all times, the decision made by the parents should be for the child’s psychological, spiritual, and physical well-being and safety.
7.Visitation arrangements should be made and confirmed beforehand between the parents without involving the child in order to avoid any false hopes, disappointments or resentments toward the other parent.
8.Notify the other parent in a timely manner of the need to deviate from the order, including cancelling visits, rescheduling appointments, and promptness.
9.Do not schedule activities for the child during the other parent’s period of possession without the other parent’s consent. However, both parents should work together to allow the child to be involved in extracurricular activities.
10.Inform the other parent of any scholastic, medical, psychiatric, or extracurricular activity or appointments of the child.
11.Keep the other parent informed at all times of your address and telephone number. If you are out of town with the child, provide the other parent the address and phone number where your children may be reached in case of an emergency.
12.Refer to the other parent as the child’s mother or father in conversation, rather than using the parents first or last name.
13.Do not bring the child into adult issues and adult conversations about custody, the court, or about the other party.
14.Do not ask the child where they want to live.
15.Do not attempt to alienate the other parent from the child’s life.
16.Do not allow stepparents or others to negatively alter or modify your relationship with the other parent.
17.Do not use phrases that draw the children into your issues or make them feel guilty about time spent with their other parent. For example, rather than saying, “I miss you,” say “I Love You.”
As you begin to co-parent, you and your ex are bound, on occasion, to disagree. It isn’t necessary to meet in person—speaking over the phone or exchanging emails is fine for the majority of conversations. The goal is conflict-free communication, so see which type of contact works best for you. Keep the conversations kid-based.
Remember, respect can go a long way, keep talking, don’t sweat the small stuff, and be willing to compromise
Effective co-parenting means that your own emotions – anger, resentment or hurt – must take back seat to the needs of your children. Setting aside these feelings may be the hardest obstacle to overcome after a divorce. It is important that you remember, co-parenting is not about your feelings, or those of your ex-spouse, but rather about your children’s future happiness and stability.
The following are useful tips to assist you with co-parenting in the future.
1.Do not talk negatively, or allow others to talk negatively, about the other parent, their family and friends or their home in hearing range of the child.
2.Do not question the children about the other parent or the activities of the other parent regarding their personal lives. In simple terms, do not use the child to spy on the other parent.
3.Do not argue or have heated discussions with the other parent when the children are present or during an exchange.
4.Do not make promises to the children to try and win them over at the expense of the other parent.
5.Communicate with the other parent and make similar rules in reference to discipline, bedtime routines, sleeping arrangements, and schedules. Appropriate discipline should be exercised by mutually agreed of both parents.
6.At all times, the decision made by the parents should be for the child’s psychological, spiritual, and physical well-being and safety.
7.Visitation arrangements should be made and confirmed beforehand between the parents without involving the child in order to avoid any false hopes, disappointments or resentments toward the other parent.
8.Notify the other parent in a timely manner of the need to deviate from the order, including cancelling visits, rescheduling appointments, and promptness.
9.Do not schedule activities for the child during the other parent’s period of possession without the other parent’s consent. However, both parents should work together to allow the child to be involved in extracurricular activities.
10.Inform the other parent of any scholastic, medical, psychiatric, or extracurricular activity or appointments of the child.
11.Keep the other parent informed at all times of your address and telephone number. If you are out of town with the child, provide the other parent the address and phone number where your children may be reached in case of an emergency.
12.Refer to the other parent as the child’s mother or father in conversation, rather than using the parents first or last name.
13.Do not bring the child into adult issues and adult conversations about custody, the court, or about the other party.
14.Do not ask the child where they want to live.
15.Do not attempt to alienate the other parent from the child’s life.
16.Do not allow stepparents or others to negatively alter or modify your relationship with the other parent.
17.Do not use phrases that draw the children into your issues or make them feel guilty about time spent with their other parent. For example, rather than saying, “I miss you,” say “I Love You.”
As you begin to co-parent, you and your ex are bound, on occasion, to disagree. It isn’t necessary to meet in person—speaking over the phone or exchanging emails is fine for the majority of conversations. The goal is conflict-free communication, so see which type of contact works best for you. Keep the conversations kid-based.
Remember, respect can go a long way, keep talking, don’t sweat the small stuff, and be willing to compromise
See this Amp at http://amplify.com/u/aq8uw
Friday, February 11, 2011
@tmz.com: Kelsey Grammer is Officially Divorced! What about his 2 kids? Visitation Enforcement on Father’s Rights! http://dld.bz/vEkE http://amplify.com/u/apvws
Unless your Boomer years are unique, keep pretending you won't get older. http://dld.bz/MuNS Do we enjoy getting old? Nacollawfirmblog.com http://amplify.com/u/apv6d
Thursday, February 10, 2011
@cnbc.com: US Negative Home Equity Surge at 27%, Weighing on Housing Recovery! By All Means Stop the Foreclosures!Part II http://dld.bz/2yMP http://amplify.com/u/apt56
@CNN.com: Man claims he's Father of South Carolina Abandoned Baby! Fathers Have Rights: Establishing Paternity! http://dld.bz/qKNF http://amplify.com/u/apsle
Wednesday, February 9, 2011
Contract Review:Proper Form to Prevent Future Breach
Before signing a contract, read through it carefully. Have an attorney review the contract. Make certain that you know what obligations are stated and/or implied. If you are uncertain as to your duties and you sign the contract, you may be liable for a future unintentional breach of the contract.
Contract negotiations, especially in the context of important financial contracts, can be taxing and difficult at best. An attorney can assist you with negotiations to ensure your needs and requirements are met. Additionally, your attorney can properly draft and/or review the contract, explain to you your rights and duties under the contract, and make suggestions as to provisions which may be necessary to protect your best interest.
The following is a good guideline for contract review. It is not an all-inclusive list, but may be used as a tool to assist with contract drafting and review:
1.Make sure the language contained in the contract is clear and understandable. In most cases, limit the use of highly technical terms when possible. Unnecessary legal wording may make the contract confusing, thus use regular wording to make sure the parties understand what the contract says and means.
2.Give a clear and concise description of the goods and/or services to be received.
3.Give a clear description of the amount of money or other consideration for the contract.
4.If any payments are payable outside the U.S., make sure the payments are in U.S. dollars.
5.Make sure the contract contains a specific time and place for performance.
6.The contract should contain a method of providing notice of default and opportunity to cure default.
7.Rights, obligations, and duties of every party should be clearly listed. Each party’s responsibilities should be identified in understandable wording.
8.Use clear and concise names when listing parties to the contract, including address, telephone number, fax number, and email addresses.
9.Be sure you have a contact person for each party to the contract, including address, telephone number, fax number, and email addresses.
10.Establish a date the contract is to begin and end.
11.Make sure the contract contains all other important dates to the contract (milestones, deadlines, reports, etc.). Use full dates. Such dates should be clearly identified.
12.The procedure for renewal of the contract should be clearly identified.
13.If an employment contract, the procedure for termination of the contract should be clearly identified (termination for cause and/or termination at will).
14.Indemnification, liquidated damages, attorney’s fees, waiver of contractor’s liability, waiver of statutes of limitation clauses should be incorporated if necessary or applicable.
15.Establish the contract is governed by the laws of the State of Texas.
16.Establish the venue for suit is in the county where the Company’s main office or parties signing are located or agree otherwise.
17.If insurance is required, define the types and levels of coverage.
18.Confidentiality provisions, if applicable, should be incorporated.
19.Ensure Act of God or force majeure clauses are incorporated if necessary.
20.Assignment by either party should be approved in advance in writing.
21.Incorporate an Alternative Dispute Resolution clause, if required or desired.
22.All appendices, exhibits, attachments, and schedules should be attached.
23.Title and authority of person signing the contract should be properly stated and warranted.
24.Spelling, formatting, grammar, punctuation and general appearance of the contract should be professional and accurate.
Preprinted form contracts should only be viewed as a starting point, not a final expression of the parties’ agreement. Protection for all parties is usually minimal to non-existent in such pre-printed forms. No pre-printed form can be expected to cover the particulars of all agreements between two or more specific parties. Having an attorney review and negotiate pre-printed forms may prove prudent and smart.
It is imperative that the terms of a contract are fairly negotiated, properly drafted, and reviewed to ensure the contract meets the intentions of the parties.
Contract negotiations, especially in the context of important financial contracts, can be taxing and difficult at best. An attorney can assist you with negotiations to ensure your needs and requirements are met. Additionally, your attorney can properly draft and/or review the contract, explain to you your rights and duties under the contract, and make suggestions as to provisions which may be necessary to protect your best interest.
The following is a good guideline for contract review. It is not an all-inclusive list, but may be used as a tool to assist with contract drafting and review:
1.Make sure the language contained in the contract is clear and understandable. In most cases, limit the use of highly technical terms when possible. Unnecessary legal wording may make the contract confusing, thus use regular wording to make sure the parties understand what the contract says and means.
2.Give a clear and concise description of the goods and/or services to be received.
3.Give a clear description of the amount of money or other consideration for the contract.
4.If any payments are payable outside the U.S., make sure the payments are in U.S. dollars.
5.Make sure the contract contains a specific time and place for performance.
6.The contract should contain a method of providing notice of default and opportunity to cure default.
7.Rights, obligations, and duties of every party should be clearly listed. Each party’s responsibilities should be identified in understandable wording.
8.Use clear and concise names when listing parties to the contract, including address, telephone number, fax number, and email addresses.
9.Be sure you have a contact person for each party to the contract, including address, telephone number, fax number, and email addresses.
10.Establish a date the contract is to begin and end.
11.Make sure the contract contains all other important dates to the contract (milestones, deadlines, reports, etc.). Use full dates. Such dates should be clearly identified.
12.The procedure for renewal of the contract should be clearly identified.
13.If an employment contract, the procedure for termination of the contract should be clearly identified (termination for cause and/or termination at will).
14.Indemnification, liquidated damages, attorney’s fees, waiver of contractor’s liability, waiver of statutes of limitation clauses should be incorporated if necessary or applicable.
15.Establish the contract is governed by the laws of the State of Texas.
16.Establish the venue for suit is in the county where the Company’s main office or parties signing are located or agree otherwise.
17.If insurance is required, define the types and levels of coverage.
18.Confidentiality provisions, if applicable, should be incorporated.
19.Ensure Act of God or force majeure clauses are incorporated if necessary.
20.Assignment by either party should be approved in advance in writing.
21.Incorporate an Alternative Dispute Resolution clause, if required or desired.
22.All appendices, exhibits, attachments, and schedules should be attached.
23.Title and authority of person signing the contract should be properly stated and warranted.
24.Spelling, formatting, grammar, punctuation and general appearance of the contract should be professional and accurate.
Preprinted form contracts should only be viewed as a starting point, not a final expression of the parties’ agreement. Protection for all parties is usually minimal to non-existent in such pre-printed forms. No pre-printed form can be expected to cover the particulars of all agreements between two or more specific parties. Having an attorney review and negotiate pre-printed forms may prove prudent and smart.
It is imperative that the terms of a contract are fairly negotiated, properly drafted, and reviewed to ensure the contract meets the intentions of the parties.
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