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Real Estate

Using IRA Funds to Finance a Home Purchase


There has been much publicity surrounding the First-Time Homebuyer Credit under the American Recovery and Reinvestment Act of 2009. Many young families and individuals are rushing to take advantage of this limited time offer and in their haste, may miss other favorable tax regulations that facilitate and encourage homeownership. One such code provision, of particular

Making Zoning Regulations Work


In the current economy many businesses are looking for new sources of revenue. Recently, Attorney Peter Herbst assisted the owner of a rock and gravel quarry in adding retail sales to his otherwise wholesale business. While the existing zoning regulations prevented any retail sales at the client’s industrial zoned property, Attorney Herbst crafted a text amendment to

Another Good Reason to Purchase Owner’s Title Insurance


When purchasing property, there are many reasons to insure the title to your property. Just as you insure your property against a fire or other casualty loss, you need to protect your property against challenges to your rightful ownership. Title insurance protects you against unforeseen defects in the chain of your title such as a

Insurance Coverage for Release of Hazardous Waste


Residential property owners that use oil to heat their homes should be aware of the new protection afforded by the amendment to M.G.L. c. 175, §4D. Many people are under the misconception that a leak in their heating oil storage tank that allows oil to migrate into the ground would be covered by their home

Considering Refinancing a Commerical or Residential Mortgage?


With interest rates near historical lows, are you considering refinancing your commercial or residential mortgage to take advantage of today’s lower interest rates, shorten your term of payments or perhaps take additional equity out for an important project? If so, there are a lot of new things for you to consider in today’s changes lending

Buyers of Foreclosed Homes Tempted by Free Title Insurance


The mortgage foreclosure situation is hectic these days. Many Lenders have sold their loans to other companies or packaged them in security “bundles”, the so-called securitization of mortgages. Many of these loans went into default and have been foreclosed and are now “Bank Owned” properties. Naturally banks are anxious to sell off these properties, frequently

Diligent Research Solves Title Issues and Avoids Costly Litigation


Prior to closing, an owner of a residential dwelling was informed by the buyer’s attorney that the title to the real estate was not marketable because documents within the chain of title did not sufficiently confirm the existence of a corporate entity or the identity of the corporate officers or the trustees or beneficiaries of

Commercial Lending Update


The Federal Reserve recently surveyed senior loan officers from 60 large domestic banking institutions and the U.S. agencies of 24 foreign banks. The results: In the fourth quarter of 2008, 87 percent of loan officers said they have tightened their lending standards for commercial real estate loans. Banks are pointing to uncertain economic outlook, a

Massachusetts Smart Growth


The Massachusetts Legislature has recently implemented new legislation designed to increase the stock of affordable housing in the Commonwealth. Chapter 40R, otherwise known as the “Smart Growth Zoning Act,” will also help cities and towns meet their affordable housing goals in conjunction with Chapter 40B. The Act encourages municipalities to create smart growth zoning overlay