Blog2018-03-07T13:05:58+00:00

Real Estate Due Diligence Quick Tip

Performing due diligence is the singular most important part of investing in real estate. Typically, a real estate purchase agreement permits the buyer to investigate financial data and the property itself prior to closing without commitment to the acquisition. An investor must be certain that the property they are seeking to acquire is all that it was advertised to be. In order to accomplish that task an investor must be sure that the purchase agreement permits him or her to investigate everything pertaining to the property without committing. One of the best sources of information an investor can obtain from a seller is a Federal Tax Return 8825 Form. This form sets forth all of the income and expenses associated with a property. Most importantly, unlike requesting a income statement from the seller, an 8825 Form will not overstate income or understate expenses because the seller's taxable income depends on the net figures derived off of that form. A buyer can feel confident that the expense figures set forth on a Form 8825 from a seller are as high or higher than the expenses the buyer can expect post closing (with the exception of property taxes). Additionally, the buyer can [...]

By |August 20th, 2018|Categories: Uncategorized|0 Comments

Top 5 Reasons to Hire a Lawyer Before Signing a Contract

There is a reason lawyers are called counselors. They counsel people. Too often clients use a lawyer after a problem arises.   Clients then expect their lawyer to clean up whatever mess the client or some evil doer created.  This is a very costly and inefficient way to use a lawyer's services. Within the world of business transactions and contract negotiation, a client's failure to consult a lawyer before signing on the proverbial dotted line can prove fatal.  Here are the top five reasons a person should have a lawyer review a contract before signing it.  Better Courtroom Outcomes. Courts of law will not consider any other evidence of a contractual relationship other than the contract. The parole evidence rule prohibits the use of outside evidence to enlighten a court or a jury regarding the entire business relationship involved. For example, a person interviews for a new job and is hired. Terrific! The new hire is understandably excited.  As part of his or her employment, the employer requires the new hire to sign a covenant not to compete.  During the interview for employment, the interviewer states to the candidate "don't worry about reviewing it, I promise you this company never enforces [...]

By |July 27th, 2018|Categories: Uncategorized|0 Comments

Landlord – Tenant Liability

Our firm believes in educating clients. An informed client makes informed decisions.  As a service to those visiting our website we periodically post significant changes in legal precedent. Below is a Kentucky Supreme Court Decision impacting landlord-tenant law in the state of Kentucky that clarifies the legal theory of comparative fault as it to applies to landlord liability. SHINKLE v. TURNER COUNSEL FOR APPELLANT: Glenda Harrison, Peter C. Nienaber, Legal Aid of the Bluegrass, 104 E Seventh Street, Covington, KY 41011. COUNSEL FOR APPELLEE: Bobby D. Turner, 3053 Front Street, PO Box 108, Petersburg, KY 41080. Appellant, Lesley D. Shinkle, appeals from the Boone Circuit Court's opinion and order affirming the judgment of the Boone District Court finding him guilty of forcible detainer with respect to property owned by Appellee, Bobby D. Turner. For the reasons stated below, we reverse the opinion of the Boone Circuit Court and vacate the forcible detainer judgment entered in the Boone District Court. FACTUAL AND PROCEDURAL BACKGROUND On February 10, 2014, Landlord Bobby D. Turner provided his tenant, Lesley D. Shinkle, with written notice to vacate the premises. Eight days later, on February 18, 2014, Turner filed a forcible detainer complaint against Shinkle in [...]

By |March 7th, 2018|Categories: Real Estate Law, Tenant Landlord Law, Uncategorized|0 Comments

New Website Launch

We are very excited to finally launch our new website and blog. Thank you for visiting. We will be using this blog to write about important business legal issues. Please reach out to us if you have any specific topics you would like to read or learn more about.  Just email us via the contact form on this site or you can email Ronald Fadel directly at ron@ronfadel.com

By |March 7th, 2018|Categories: Uncategorized|0 Comments