Brokers and salespeople are in the unique position of being the first to know the property is for sale. There are certain questions that can be asked and documents that can be obtained which can disclose potential problems. Each type of property is different. Each has its own set of issues that must be considered when taking a listing. Below are issues dealing with the three most common residential property types. This list is not exhaustive just a guide. Again each property will have its own unique set of concerns. It is the seasoned and well trained real estate salesperson who will be able to predetermine these issues and resolve them so they will not interfere with a smooth transaction. The first type of property is the Condominium Unit. A Condominium owner holds “fee simple” title. This is the highest form of ownership under the law and entitles the property owner to full enjoyment of the property, limited only by zoning laws, deed or subdivision restrictions or covenants, and in the case of Condominiums, the ownership is subject to the Condominium Declaration. The Declaration is a recorded document which legally establishes the structure as a condominium. The Declaration will refer to the offering plan. • Obtain A Copy Of The Offering Plan: The offering plan sets forth all information concerning the condominium building including each unit interest and the percentage of the “common elements” associated with each unit. The Offering Plan will also set forth the rules and regulations governing the Condominium. The Offering Plan will be amended from time to time and you must obtain a copy of all amendments. In addition you should obtain at least two years of the buildings financial statements. The buyer’s attorney will want to review these documents before the deal proceeds. In order to avoid any delay in getting the deal to contract you must insure that these documents are ready for immediate review. Free Initial Consultation with LawyerIt’s not a matter of if, it’s a matter of when. Legal problems come to everyone. Whether it’s your son who gets in a car wreck, your uncle who loses his job and needs to file for bankruptcy, your sister’s brother who’s getting divorced, or a grandparent that passes away without a will -all of us have legal issues and questions that arise. So when you have a law question, call Ascent Law for your free consultation (801) 676-5506. We want to help you!
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8833 S. Redwood Road, Suite C West Jordan, Utah 84088 United States Telephone: (801) 676-5506
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Morgan is a city in the U.S. state of Utah and the county seat of Morgan County. It is part of the Ogden-Clearfield metropolitan area. It is named after Jedediah Morgan Grant, a leader in The Church of Jesus Christ of Latter-day Saints who served as an apostle and as a member of the LDS First Presidency under Brigham Young in the mid-1850s. As of the 2010 census, the city population was 3,687 people and estimated at 4,260 in 2018.[5] Morgan is also a location where some of the movie Troll 2 was filmed in 1989. [geocentric_weather id=”b018fd65-6ccf-464f-bbff-4556f3e7674a”] [geocentric_about id=”b018fd65-6ccf-464f-bbff-4556f3e7674a”] [geocentric_neighborhoods id=”b018fd65-6ccf-464f-bbff-4556f3e7674a”] [geocentric_thingstodo id=”b018fd65-6ccf-464f-bbff-4556f3e7674a”] [geocentric_busstops id=”b018fd65-6ccf-464f-bbff-4556f3e7674a”] [geocentric_mapembed id=”b018fd65-6ccf-464f-bbff-4556f3e7674a”] [geocentric_drivingdirections id=”b018fd65-6ccf-464f-bbff-4556f3e7674a”] [geocentric_reviews id=”b018fd65-6ccf-464f-bbff-4556f3e7674a”] The post Estate Planning Attorney Morgan Utah appeared first on Ascent Law. via Ascent Law https://ascentlawfirm.com/estate-planning-attorney-morgan-utah/
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