Gainesville Business And Real Estate Law Blog

How NACA can help save your home

Homeownership can bring pride and a sense of success. However, it can also result in stress and worry. Homeowners in Georgia who are struggling to pay the mortgage, whether because of increasing interest rates, change in income or unexpected bills, may fear they will lose their home. However, there are a number of state and federal programs that are designed to help people stay in their home and avoid foreclosure.

The Georgia Department of Law says the first thing homeowners should do when they come into financial trouble is seek legal help and speak with their lenders about possibly changing the terms of the loan in the short term until their financial situation improves. It also recommends contacting a number of free resources whose mission is to help people keep their homes. One such program is the Neighborhood Assistance Corporation of America (NACA). As a non-profit agency, it provides free counseling and seminars for those at risk of losing their homes. 

What makes a contract legally binding?

Creating a contract can offer you a peace of mind. However, contract law can be complex. It is essential that you make sure any contract you create or enter into is legally binding. This means that it can be enforced under the law and through a Georgia court. According to the U.S. Small Business Administration, you need two specific elements present to make a contract legally binding.

You do not a bunch of legal language. You do not need to have pages of content. Sometimes, a contract does not have to be in writing, but there are some situations where it must be written down. Generally, putting it in writing helps with clarity and gives both parties a copy for future reference, so if you can, you should put your contract in writing, even though it may not be required to validate the contract.

3 tips on mergers & acquisitions

As a Georgia business owner, you’re likely well-aware that growing your enterprise is a vital aspect of success. Merging is with an existing business is one way to pursue your goals and going into the process with the right information is hugely important. Entrepreneur offers tips on how achieve a successful merger, which will help ensure success and prevent potentially damaging legal issues from occurring.

Ask Important Questions 

How can I recover from a foreclosure?

After a foreclosure you may think that your chances of ever owning a home again are slim to none. However, this isn’t always the case; there are quite a few things you can do to bounce back from a foreclosure, from credit repair to establishing a solid work history. U.S. News & World Report offers some insight on the steps you can take when seeking a new mortgage after a foreclosure.

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Creating an equine LLC

Every horse owner knows that horses are more than a passion. They require constant feeding, attention, and grooming that can become very expensive. It can be much more than a labor of love, too, with activities such as shows, riding lessons, and breeding.

Every horse is indeed a business, and many of them are owned by more than one person. It may seem strange to incorporate your equine business, but it can be an good way to resolve disputes, settle taxes, and shield liabilities for everyone involved.

What documents are needed to form an LLC?

If you want to create a business entity in Georgia, then be prepared to file some paperwork. The state requires that you submit certain documents to make your business legal. If you are forming a limited liability corporation, you will have more documents to file than if you were operating a sole proprietorship, for example. Typical filings required include documents for your business name and taxation documents. For an LLC, though, you have two specific documents you need to file to form the LLC legally.

According to the Small Business Administration, you start the process of forming your LLC by filing your Articles of Organization. This document includes information on who is running your business. You will include the names of all the partners in the business. You will also provide the business name and address, along with appointing your registered agent. This is the person who can perform duties on your behalf and handle legal documents on behalf of the LLC.

Avoiding foreclosure as a landlord

From evicting a difficult tenant to the daily stressors that can arise with being a landlord, renting a home can be difficult at times. For some landlords, the threat of foreclosure can make daily life especially complicated. If you are renting to tenants and are worried about losing the home due to foreclosure, it is essential to know what your options are and carefully consider which course of action you will move forward with. In Gainesville and in other cities throughout the entire state of Georgia, many landlords and homeowners have had to face these challenges in recent years, so you should certainly not feel alone if you are working through this yourself.

There are a variety of reasons why landlords may find themselves in this position, whether they have been through a recent medical crisis that they never saw coming or have been facing financial challenges due to the local economy. However, there are a number of ways that homeowners may be able to avoid foreclosure and it is important to point out that every homeowner's circumstances are unique. If your home is foreclosed on and you are a landlord, the foreclosure may affect your tenants, making life incredibly complicated for them as well. As a result, you should do all you can to avoid foreclosure and you may have a number of options to consider.

Dealing with unforeseen inheritance disputes

For the sake of argument, let us assume for a moment that you were recently involved in an estate resolution that left you with real estate holdings in North Georgia. After you cleared probate and satisfied the necessary ownership and taxation requirements, you would probably think that you had enough of the state's courtrooms to last you for quite a while. Unfortunately, your neighbor might have different thoughts on the matter.

At The Roberts Law Firm, P.C., we often see real estate boundary disputes that arise as a result of the property in question changing hands. While many of our clients are prepared for this conflict, especially if they negotiated an unconventional sale, such as a foreclosure or short sale, there are some who have a little more trouble navigating the issue. In particular, individuals already emotionally exasperated by protracted estate issues seem to want their border disputes resolved efficiently.

What is a limited liability partnership

When friends or partners decide to come together to make money, they may be forming a general partnership. In many cases, this type of partnership is informal and may not involve a contract. However, if something should happen regarding the business, it may be best to have a contract in writing to help with technicalities in the future. A general partnership with no contract in place leaves the risk of liability if something should arise. If you wish to turn your general partnership into a legal entity, you may choose to start a limited liability partnership or LLC.

There are several advantages to having a limited liability partnership. LLC’s can consist of two or more professionals who can combine their resources and experience to create an amazing company. By sharing the overhead cost and expenses the company may encounter, the partners may receive a greater profit share. People who belong to LLC’s do not have to remain in the company permanently. In fact, they are able to leave the partnership much easier than may be if a contract is not in place.

Analyzing the pros and cons of sole proprietorships

When the opportunity arises to start your own business in Gainesville, the question of which business model to follow immediately arises. Many in your same situation come to us here at The Roberts Law Firm, P.C. thinking that having business partners automatically gives them an advantage. Like them, you may be surprised to hear that is not always the best move. It all depends on what you want. 

The opposite of a business partnership is a sole proprietorship. The website Entrepreneur.com defines this as a business entity over which you have sole control over its operations and are solely responsible for all of its liabilities. There are certainly pros and cons to deciding you should form your business as a sole proprietorship. It is vital that you analyze these before beginning your venture. 

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The Roberts Law Firm, P.C.

The Roberts Law Firm, P.C.
604 Green Street
Gainesville, GA 30501

Toll Free: 866-594-7535
Phone: 404-537-2796
Fax: 404-841-0775
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