Justia Badge
The Florida Bar - Board Certified
Miami Lakes - Bar Association
Avvo Rating 10.0
Weston Bar Association
Avvo Clients Choice 2016
DC Bar
Indiana State Bar Association
Ullinois State Bar Association
The Virginia Bar Association

Articles Posted in Real Estate

By Phillip B. Rarick, Miami Lakes and Weston Estate Planning Attorney

Note: This 10 Point Checklist is for those persons who have interests in one or more Florida entities, such as a corporation,  limited liability company (LLC),  or  limited Partnership (LP).

1.     Annual Fees.   In January the State of Florida will send notices via email reminding you that annual fees for each corporate entity are due no later than May 1.   Do not wait to get an email notice from the state, as your fees are due regardless of whether you get a notice.   Remember:   The deadline to pay these fees is May 1 without penalty.

You will miss this deadline if you do not read carefully – and you may need a magnifying glass to find it.  Within the past two weeks you should have received in the mail a “Notice of Proposed Property Taxes” or “TRIM Notice” from your county property tax appraiser.  Buried at the bottom of your  Notice in small print is an important deadline for appealing your tax assessment.

Clearly, the county does not want to encourage you to appeal your property taxes.

Note these deadlines:

A big focus of our practice is helping our clients better protect their real estate investments.  However, some of our clients are surprised to learn that our legal services extend beyond real estate asset protection.  Here is a short list of our real estate services:

–           Purchase or Sale of Residential or Commercial real estate.   We will represent you on your sale or purchase.   It is often difficult to find reliable, cost efficient title companies.  We work in close collaboration with local, experienced attorneys who provide excellent title services.   We can help you close virtually any real estate transaction at a cost often below other title companies.

–           Commercial Leases.   A good commercial lease is essential to protecting the value of your property by insuring that good tenants stay, and bad tenants can be quickly and economically removed.   A strong, modern lease can help insure that you keep all your properties fully rented and tenants current in their payments.   My partner Jay Beskin is experienced with commercial leases and is available to help make sure that your new lease protects your interests.   An old lease may not be doing a good job of protecting you in 2015.   If you have an old lease, Jay is available to review it.

By Phillip B. Rarick, Esq., Miami Probate Attorney

1.         Failure To Identify Decedent’s Homestead

In order for real property to be subject to Florida homestead benefits  (1) the decedent must be domiciled in Florida; (2) the property must be owned by the decedent or the decedent’s revocable trust if the decedent was the grantor; (3) the property must be the decedent’s primary residence; and (4) the property is limited in size to one-half acre of contiguous land in a municipality or 160 contiguous acres outside a municipality.  Art. X, §4(a), Fla. Const.

Virtually all states are looking to increase tax revenues and Florida is no exception.  One area in which the state is becoming more aggressive is the collection of documentary stamp taxes.

As outlined in Florida Statue §201.02, this stealth tax  must be considered in virtually all transfers of interests between or within Florida corporate entities, and all transfers of real estate, including real property gifts between family members.  Evaluating this tax can be tricky!

Here are some examples:

Contact Information