News & Resources
Last week, Hackleman, Olive and Judd, P.A. closed three real estate transactions totaling $19,552,400 in a 48-hour period. Benjamin Olive, Nicole Villarroel, and Stephen Hoffman each closed significant transactions despite the coronavirus pandemic.
It is all over the news, interest rates are at historic lows. You may be able to refinance your mortgage and get a great deal! A mortgage refinance is when you replace your current home loan with a new one. Why should you refinance now? You would save on the interest you pay to the lender; you would lower your monthly payment; and, potentially pay off that mortgage at a faster rate! Also, refinancing an existing mortgage may be easier and more cost effective then selling and moving into a new home. Hackleman, Olive & Judd, P.A. is an attorney […]
How Legal Meetings and Proceeding are Occurring Online During COVID-19 Stephen Hoffman lead a team which successfully obtained approval of a land use application from the Town Council of Southwest Ranches on April 9, 2020. Due to isolation rules in place by the Town and Broward County, the Town of Southwest Ranches conducted the Council Meeting virtually using the Zoom platform. Question: How did the virtual meeting work? Stephen: It worked excellent! I had a slight issue logging in (which elevated my heart rate a bit!), but once we got started the hearing worked well. The Town did an amazing […]
HOJ LAWYERS ON THE FRONT LINES IN ASSISTING CLIENTS OBTAINING PAYROLL PROTECTION AND ECONOMIC INJURY DISASTER LOANS
On Friday, March 27, 2020 Phase III of the CARES Act was passed. This economic relief package was enacted in response to the COVID-19 pandemic and is intended to provide economic support to businesses, employees, individuals and families at the Federal level. On April 3, 2020, lenders started taking applications for the Payroll Protection Program from borrowers. Hackleman, Olive & Judd, P.A. has already assisted clients with submitting these applications in order to maximize their loan amounts. Hackleman, Olive & Judd, P.A. is advising businesses and individuals on how the CARES Act programs can help them during the COVID-19 crisis.
By Stephen Hoffman and Nicole Villarroel Broward County issued a “shelter in place” Emergency Order effective March 27, 2020 due to the COVID-19 crisis resulting in a high level of uncertainty for buyers, sellers and lenders as to whether they can close their residential and commercial real estate transactions. Parties to real estate transactions must close timely to prevent forfeiture of deposits, losing favorable financing terms and/or meet stringent deadlines to effectuate a 1031 tax deferred exchange. The impact of COVID-19 crisis on real estate and mortgage loan closings changes almost daily. We have implemented policies and procedures to allow […]
Families First Coronavirus Response Act: Small Business Owner Requirements The Families First Coronavirus Response Act, recently signed into law, requires small employers (those with fewer than 500 employees) to provide limited paid-leave benefits to employees who are affected by the coronavirus pandemic. The provisions of the Act make significant, temporary changes to the Family and Medical Leave Act (FMLA). Small businesses will be affected by these changes and may need legal advice to navigate through the changes. The Act takes effect on April 2, 2020 and most provisions will expire on December 31, 2020. Generally, the Act provides that employees […]
I frequently receive telephone calls from clients, who possess the misconception that getting a beer and wine license, or liquor license in South Florida will be a straightforward process. Prior to speaking with me, clients are often frustrated with the delays caused by the convoluted application requirements that must be met before a state alcohol license can be issued. Causing additional confusion, local municipal requirements vary greatly. For example, the City of Fort Lauderdale requires that you obtain a Business Tax Receipt and a Liquor Measurement before you can apply for your state alcohol beverage license. Below is an overview […]
The Force Majeure Clause: How the Coronavirus Impacts Performance Contracts The 2020 Coronavirus (COVID-19) pandemic is causing disruption to business operations as expansive, if not more expansive, than the 9/11 terrorist attacks. As these disruptions continue, parties should review their contractual obligations, rights, and remedies to assess available recourse or consequence in the event of performance delays. A careful analysis of “force majeure” clauses is important to understand in these uncertain times. When it is impossible for a party to perform its obligations under a contract because of an “act of God” or other unforeseen circumstance, the “act of God […]
Florida’s landlord-tenant laws have long grappled with the competing goals of providing property owners with efficient means of removing non-paying tenants or trespassers while minimizing potential abuse of bona fide tenants. The Florida Legislature took a step toward modernizing the process of removing unwanted persons from real property in 2015 by enacting Section 82.045, Florida Statutes, which allows for the potential removal of persons who qualify as “transient occupants” of property without the need to file a legal proceeding. While this statute has not garnered widespread attention since its enactment, property owners should be aware of its potential impact on […]
An opportunity to defer taxes and build wealth arises when and individual or entity sells an investment property for more than he or it purchased it for. Generally, tax on the seller’s capital gain is due upon the sale of property. However, Internal Revenue Code Section 1031 provides an exception to this rule and allows a seller of investment property (referred to here as the “Relinquished Property”) to re-invest his proceeds into another investment property (referred to here as the “Replacement Property”) as part of a qualifying “like-kind” Exchange. Often misunderstood by taxpayers, capital gain deferred in an Exchange is […]