Gainesville Business And Real Estate Law Blog

The benefits of an LLC business structure

You have run the numbers and conducted market research. Now you are ready to take the plunge and become a Georgia small business owner. Choosing a Limited Liability Corporation as your entity’s structure has many benefits, including flexibility, as your company grows. At The Roberts Law Firm, P.C., we assist clients through all phases of their business, from startup and development to implementation and business succession.

Once you have chosen a name for your company and confirmed it is not used by another organization, you must register the business with the state. According to Inc, one of the benefits of registering an LLC is that it is simple and once completed, you can get bank accounts, business checks and an Employer ID number. There is also very little documentation such as by-laws, board meetings and other similar requirements that C- and S- corporations must have.

What is a property lien?

Whether buying or selling property in Georgia, due diligence is a must. This is why many people involved in real estate transactions perform title searches to make sure there are no property liens associated with a home. Realtor.com provides more information on property liens and how you can check for one.

A property lien is a legal notice of debt that is attached to a property. They can be caused by a variety of debt, including unpaid taxes. They can also be assessed against newly constructed homes. For instance, if the contractors that built the property were not paid upon completion, there could be a lien on the books. Liens make it harder to sell and refinance the property and also cause many buyers to walk away from the transaction in fear that they will be saddled with the debt.

Why would a partner terminate a contract "for convenience?"

The concept of terminating contracts "for convenience" had been brought up on this blog in the past. As was mentioned previously, this right is automatically afforded to government agencies (private organizations can only terminate a contract for convenience if that privilege is afforded to them in a contract's terms). The question then becomes under what scenarios might a contractual partner cite for ending your agreement in this manner, and what (if any) expenses you can recover in this scenario. 

The Congressional Research Service has listed several common scenarios in which government agencies end contracts for convenience. One is when an agency or organization no longer needs the goods or services that you offer. It may be that its needs were temporary, or it found a method to provide them in-house. Another is if questions arise regarding your company's ability to continue to provide the contracted service, or the propriety in continuing to work with you. Say that you run into issues with your professional licensing. Your government partner may decide to cease working with you until you get the matter resolved. 

What is offer and acceptance in a contract?

There are several parts you want to include in every contract. However, it is very difficult to have a contract without an offer and an acceptance. These are vital to ensure your document makes sense and creates something legally binding in Georgia. It is important to understand each of these components and know what you need to create them.

California State University explains the offer is what you present to the other party. It has value and is something the other party wants. For example, if you create a contract for an auto purchase, the offer is the auto. The offer also includes the details of the trade. If you sell an auto, this might include any information about warranties and the details on payment.

What is a partnership agreement?

Starting a business requires many different types of documents and processes to get the business legal and ready to go. If you are going to start a partnership in Georgia, you should create a partnership agreement. According to Inc., this document cements the details of the partnership from the beginning to the end.

A partnership agreement outlines the duties and responsibilities of each partner. You want to be exact about the expectations for what you will each do in the business and your responsibilities to each other. Essentially, you will explain the partnership relationship and how that relates to the running of the business.

How can I determine my property lines?

If you’re a home owner in Georgia, you should have a good understanding of your property lines. Not only will this allow you to identify when your lines of have been breached, it will also prevent you from encroaching on your neighbor’s property, which may cost both time and money. BobVila.com offers the following information on how you can identify your property lines if you’re unsure where they lie.

Contact your zoning department

How can I prevent foreclosure from occurring?

Foreclosure is a daunting prospect for homeowners in Georgia. Fortunately, there are steps you can take to prevent it if you act swiftly. The Balance offers the following tips to homeowners so they can maintain their most precious investment.

Loan modification

What are some mistakes made by small business owners?

While owning a business is a dream of many people in Georgia, it’s certainly not an easy task. That’s why it’s essential that new business owners understand common slip-ups that accompany a new business, which can help them avoid these mistakes. In this case, The Balance offers the following advice.

Establish goals

How does a business conduct liquidation?

Every business owner reaches one inevitable conclusion – now is the time for me to get out of the business. Maybe you are retiring and want to turn the business over to children or business partners. Maybe you plan to sell to a competitor. Maybe you are forced to declare bankruptcy.

If you don’t have an available successor or purchaser and your company is solvent enough to avoid bankruptcy, you might consider liquidation as a way for you to exit your business.

What should I know about foreclosure scams?

Homeowners in Georgia are willing to do almost anything to avoid foreclosure. This leaves them vulnerable to foreclosure relief scams, which make incredible promises like helping homeowners keep their homes or lower their mortgage payments. PennyMac offers the following information on common scams so you can take the proper steps to avoid them.

Lease and buyback

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