A Miami-based law firm that focuses on all types of transactional law.
REAL ESTATE TRANSACTIONS
Our real estate practice focuses on all aspects of real estate transactions. Whether you are involved in a commercial or residential transaction, we will provide you with superior legal representation and expertise. Our clients include buyers, sellers, lenders, realtors, contractors, builders, and landlords.
We help our clients from beginning (contract drafting and negotiations) to end (closing). Our services include representation in residential and commercial real estate purchases, financing and sales; business asset purchases and sales, developer representation and agreements, opinions of title, letters of intent, rights of first refusal, leases, easements, seller-financing, mortgage lending, mortgage modifications and refinancing, restrictive covenants, condominium formation and severable use rights. We provide title insurance to our buying clients and help our seller clients clear title issues, secure releases and satisfactions of judgments, liens and mortgages.
Contract Negotiation
A real estate investment is one of the biggest investments a person will make in their lifetime. Accordingly, it is important to seek the advice of specialized legal counsel prior to entering into the contract and committing to the terms of the transaction. In addition to the purchase price, there are many items contemplated in the contract such as the amount of deposits, length of inspection period, closing period and contingencies, remedies for a party’s default and the allocation of closing costs and charges. It is important to understand your rights and obligations prior to being bound under the contract.
Title Insurance
What is Title Insurance?
Title Insurance is an insurance policy that provides you protection against financial losses resulting from defects in your real estate ownership rights. These defects are usually unknown at the time of the purchase of the property and issuance of the title insurance. Should a covered claim arise any time after you have purchased the policy, the title insurance company will defend the claim and clear title or pay for your loss up to the limits on the policy. Our firm is an agent of Old Republic National Title Insurance Company which is one of the largest title insurance companies in the nation.
Do I need Title Insurance?
If you are getting a mortgage, your lender may require you to get a title insurance policy to protect their interest. As for an owner’s title insurance policy, this is a negotiable item on your contract. When deciding if you should get an owner’s title insurance policy, you must consider the risks. Again, this is probably the largest investment of your life, don’t you want to protect it? What if an old lender forecloses on your property because the prior owner’s mortgage was not paid off? What if your business cannot continue because there is a restrictive covenant on the property? What if your house is destroyed because it was built on an easement? What if a missing heir or erroneous legal description is discovered in your chain of title? Do you have the time and resources to defend these claims in court? Having a title insurance policy in place will secure you against all these unknown defects.
How much does Title Insurance cost? Where do I get it?
Unlike most insurance policies, title insurance is not paid annually. It is a one-time premium that is paid when you purchase the policy. This is usually done at the time you purchase the home or, for mortgagee policies, at the time of your refinance closing. The policy premium is a state-wide standardized premium based on a small percentage of your purchase price. For the current rate chart, please contact our office.
In Florida, there are licensed title insurance companies. Most real estate attorneys are also licensed title insurance agents as well, as are we. Since the premiums are standardized, the closing fees are the only items that differ. When choosing your title insurance provider, it is important to not only compares these fees, but the differences in quality of customer service and experience. Also, it is important to know that attorneys have a fiduciary duty that is owed to their clients that non-lawyer title insurance agents do not have. This extra layer of protection is something you should consider when choosing a title insurance company.
Also, it is important to know that you are not required to use the title company selected by your lender or realtor. You may choose your own company. This is your right as a buyer or borrower. Please contact our office, if you would like representation and title insurance for your real estate transaction.
ESTATE PLANNING
Our estate planning practice focuses on each individual client’s needs. We meet with each individual client to learn about their portfolio and their needs and wants. We plan each estate so that financial delays and roadblocks are avoided by the beneficiaries. Our main focus is to provide immediate title and distribution of assets to the beneficiaries in accordance with our client’s wishes. We achieve this with various estate planning devices such as revocable and irrevocable trust agreements, warranty deeds with reservations, and last wills and testaments.
We also help trustees with trust modifications and revocations or the distribution of a trust’s assets to its beneficiaries and accounting for the same.
Advanced Directives
Estate planning is also a useful tool during one’s life. We offer our clients the devices to achieve the same. We prepare living wills, designation of health care surrogates, and durable power of attorneys. That way our clients could be confident that if they are ever incapable of making their own decisions in life (or unable to communicate their desires), their wishes will be honored. They can also select the agents whom can act on their behalf should they lack the capacity to act themselves.
PROBATE
Although it is ideal to avoid Probate with prior estate planning, sometimes what is not taken care of in life must be dealt with after death.
In Florida, beneficiaries are able to probate an estate through two different avenues, Formal Administration or an abbreviated proceeding known as Summary Administration. Whether it be a small estate that can be administered through a Summary Administration or a larger estate that requires Formal Administration, we are here to help the personal representatives and beneficiaries complete the process. If the deceased did not leave a will, we can help identify the beneficiaries of the estate and their respective interests in the same. We can also help identify the assets and creditors of the estate.
During this usually difficult and emotional time, we guide our clients through the complex process and make it as seamless as possible.
CORPORATE AND COMMERCIAL LAW
Our corporate and commercial law practice focuses on helping our clients create and structure new business entities. Individuals interested in conducting a business can protect their individual interests and limit their liability by creating several different types of entities. We meet with our clients to learn about the structure of their business and their ultimate goals for conducting the same. With our expertise and knowledge, we assist our clients in creating the right entity for their business. We assist our clients in the formation of domestic and foreign corporations, limited liability companies, general and limited partnerships, and all other types of joint ventures.
We also assist established businesses with business-related issues such as negotiating contracts, financing and secured loans, purchasing and selling assets, joint venture.
Address: 7050 SW 86th Ave, Miami, FL 33143
Phone: 305.595.2300
info@parladelaw.com