No. The following lists what is not protected by the Homestead Act: federal, state and local taxes and liens; mortgages contracted for the purchase of the home and most other mortgages; debts and encumbrances existing prior to the filing of the declaration of Homestead; probate court executions for spousal or child support; attachments on land not owned by the owner of the homestead; and court ordered executions in cases of fraud, mistake, duress, undue influence, and lack of capacity.
When a property is held by a LLC, the LLC is the legal owner of the property. The Managers are the people appointed to act on behalf of the LLC. The Members are the equitable owners of the property. The Managers run the business of the LLC per the operating agreement and can be authorized to sign documents on behalf of the LLC in the Certificate of Organization.
The Law Office of Keith W. Michon, P.C. was founded in 1996 by attorney Keith W. Michon as a real estate law office concentrating in the areas of real estate conveyancing and litigation.
Construction Litigation
Real Estate Transactions
We also concentrate in representing banks, mortgage companies, and institutional lenders in providing closing services for real estate transactions in all of Massachusetts. The Law Office of Keith W. Michon, P.C. is committed to performing lender closings in an efficient, timely, and error free manner.
Land Use and Zoning
The type of required information may vary, however, below is a list that may help determine the various land use issues an owner may face...
Condominium Law
Condominium conversion, which changes the legal status of a property, has been very popular in Massachusetts for decades. For a seller, the condominium conversion process represents a way to legally separate and sell apartments one or more at a time. For a buyer, the process represents a less costly way to enter the home ownership market since a condominium unit is typically much more affordable than a multifamily building. For a lender, the condominium conversion represents increased and stable buying power. The conversion of a three family building to condominium status will result in thee separate buyers with separate earning power borrowing lower amounts of money (thus reducing lender risk).
The Law Office of Keith W. Michon, P.C. is a dedicated, hard working law firm which specializes in the areas of residential and commercial real estate and estate planning.
Wills
Trusts
Power of Attorney
Several years ago a new law was passed. It allows you to authorize another individual or entity to manage your affairs. It allows you to draft a relatively simple document known as a durable power of attorney. A durable power of attorney is a written document in which you, as the principal, designate someone you trust, such as your spouse, another family member, a friend or a professional, as "your attorney in fact" or "agent." Your attorney in fact is authorized to perform certain acts on your behalf. You may give as much or as little power to your attorney in fact as you desire. For instance, you may authorize your attorney in fact only to have the power to transfer your assets to a trust set up for your benefit, or the powers could be very broad and authorize the attorney in fact to do anything with respect to your assets, including for example, have access to your safe deposit box, manage your investments, run your closely held business, sell and transfer your assets. The powers you give your attorney in fact will be in effect when the document is signed. Generally, a power of attorney terminates on the disability of the principal. If the power of attorney is "durable," it will not be affected if you become disabled or incapacitated. Not all powers of attorney are durable.
The sources of your income and the nature of your assets will have significant impact on our recommendations. Your assets may raise special problems of transfer at your death, and the assets may suggest a number of options with regard to income, estate, and gift tax planning. The nature of your assets also may influence the selection of the person or institution that should serve as a personal representative or trustee of your estate. This information also will enable us to give you an estimate of your potential estate tax liability and to estimate how that liability would be changed by alternative estate plans.