Our Blog

Author: D.J. Ten Hoeve
12/7/2017
Article Link

Never make a final offer that ends in 000. 

"High School sweethearts and first-time homebuyers move in to 1 Roma Court”…it sounds like a fictitious headline for a Realtors Facebook page. Well in this case it’s true. Rich Denora and Erika Martoni are the new owners of 1 Roma Court in Lincroft, and what an awesome street to welcome them!

Roma Court, located a few blocks off the Garden State Parkway is about as easy a commute to NYC as possible from Monmouth County with the Park ’n Ride at Exit 109 within walking distance. With 2 NJ State Troopers and 2 local police officers on the street, Roma Court is S.A.F.E (Safe And Friendly Environment). Better yet, 1 Roma was a clean, renovated, relatively move-in-ready home on this wonderful street.

How can I avoid the estate tax?

New York recently raised the amount of property that can pass free from the estate tax to $5.25 million.  Previously, the exclusion was $4,187,500.  After January of 2019, New York’s exclusion will match the federal exemption amount.  However, high earners in New York need to be aware of several important exceptions to the basic estate tax exclusion.

What are my legal rights if my tenant stops paying rent?

Being a landlord can be a difficult job.  If your tenant has broken the rules of the lease or failed to pay rent on a timely basis, you may need to pursue an eviction.  While the word eviction sounds daunting, with the assistance of a real estate attorney and some basic knowledge about the eviction process, you can remove the noncomplying tenant so that you can re-rent the property as soon as possible.  Take a look at the following overview of the steps to an eviction in New York and contact our real estate lawyers at The Law Firm of Merlino & Gonzalez for assistance with evicting your tenant.

When You Can Evict a Tenant?

Under New York law, a tenant can be evicted for several potential reasons.

While many homebuyers may hear that it’s all about “location, location, location,” there are other important factors to consider when selecting a house, not the least of which is the structural condition of the dwelling, and the heating, cooling, plumbing and electrical systems. For this reason, before you close on a home purchase, or at the time an offer is made, you should arrange for an independent home inspection. This article is a brief discussion of the ins and outs of home inspections.

Home Inspection: 101

First, any deal should be contingent on your acceptance of a final home inspection report. If the inspection reveals no defects, you’ve cleared the first hurdle buying a home.

Although many individuals are well served by a will-based estate plan, a will must go through a court supervised proceeding referred to a probate. Depending on the size and the complexity of the estate, this can be a time consuming and costly process. For this reason, we often recommend creating a revocable living trust. 

What is a revocable living trust?

This estate planning tool is a legal document that takes ownership of the trust maker’s property. The trust names a trustee, which is also in most cases the grantor, or the person making the trust.

If you are a first time homebuyer, navigating the real estate market in Staten Island can be complicated. From selecting a dwelling and signing a contract to arranging for a home inspection and securing a mortgage, the process requires doing some homework along with having patience and resolve.

When you’re ready to buy a home, you are well advised to speak with our experienced real estate attorneys who will work to protect your interests and help you close the deal. In the meantime, we’ve put together the following guide for first time homebuyers:

Review Your Credit Report

Before you even start looking for a home, it is important to evaluate your creditworthiness, since blemishes on your credit report will make it difficult to qualify for a loan. By obtaining a free credit report by going to annualcreditreport.
Read more . . .

Q: What could happen to my assets --and my remains-- if I die without a will?

Staten Island estate planning attorneys can give plenty of reasons why everyone should have an estate plan. You’ve probably even heard of some of them. Yet something may still be keeping you from taking action and getting your affairs in order or keeping them updated.

How do I negotiate a strong commercial lease in NYC?

Sixteen years after New York City and the rest of the nation experienced the horrors of 9/11, the New York City commercial real estate market has rebounded and then some.  The latest market statistics show over 2.75 million square feet of commercial space leased, with the average asking rental price of nearly $74 per square foot.  New York City developers anticipate that the commercial real estate market in the city will only continue to grow.  With such demand, securing a coveted commercial space can be difficult.

Q: What is driving the investment property boom on Staten Island?

Staten Island commercial real estate is on fire – – not literally, just in a good way. We knew things were booming, but now we have the numbers to prove it.

And the numbers don't lie.

Why might a rent-to-own home agreement be risky for the tenant?

Qualifying for a mortgage requires strong credit and sufficient income.  Many Americans find themselves unable to obtain a traditional mortgage due to a lack of credit, a negative payment history, or not enough income.  For those individuals that do not qualify for a mortgage through the bank, but desire to own their own homes, a lease-purchase agreement may seem like the best option.  A well-crafted rent-to-own agreement could make your dreams of home ownership a reality, but anyone considering such a purchase will need to consult with a

Over the years, many married couples have come to us for assistance with buying a home. Today, however, it is becoming increasingly common for unmarried couples, family members, friends and even business partners to buy a home together. Nonetheless, there are important considerations involved when non-spouses buy a home, some of which are discussed in this article.

Get It in Writing

Buying a home is probably the single largest financial transaction that many people will undertake during their lifetime. When the parties are not married, moreover, there are unique issues involved, such as how expenses will be handled, who owns what percentage, and how title will be held, among others.