The federal government extended its solar energy system credit in the Emergency Economic Stabilization Act of 2008, which allows taxpayers who install a solar energy system to receive a credit on their federal tax return for 30% of the system’s cost. Similarly, in Arizona, homeowners can claim a 25% tax credit on up to $4,000 […]
The courts are filled with cases against guarantors and individual general partners. After foreclosing real estate, lenders are proceeding against the borrowers, general partners and guarantors for deficiency judgments (i.e., the difference between what a borrower owes on an outstanding loan and the amount a lender receives from the sale of the foreclosed collateral). Because […]
Early case law describes property rights like a bundle of sticks. Each stick represents a different right that can include the right of ownership, of possession, of use, the right to collect rents, the right to income produced by the land, etc. Easements generally concern only one of those sticks – the right of use […]
If “standard” agreements included terms that met the reasonable expectations of both parties, there would be little reason for lawyers to review the average contract for real estate, architecture and numerous other forms. However, too often, a “standard” agreement is not fair to both parties and omits reasonable obligations for both parties. Contracts which limit […]
The Foreclosure Title Report Title companies in Arizona issue a trustee’s sale guarantee for non-judicial foreclosures. A litigation guarantee or a foreclosure report is issued for the judicial foreclosure of a real property security interest. The guarantee report is generally a commitment to insure title to the property in the name of the beneficiary under […]
1. Buyer may terminate the contract for any reason or no reason, in Buyer’s sole discretion, whether questionably reasonable or not. 2. Upon termination all earnest money shall be released to Buyer immediately. 3. If there is evidence of termites, Buyer may terminate this agreement and earnest money will be released to Buyer immediately. 4. […]
Owner will have the right to join architect and general contractor in single mediation and arbitration. Architect will provide a time schedule for producing documents. Architect is to advise Owner in writing when it is aware of any conflicts, errors, omissions in the Construction Documents or defects in construction of the project. If the cost […]
Endorsements are used to expand or otherwise modify the coverage of a title insurance policy on real property. There are various title insurance policies made available to owners of real property by title companies including standard coverage, ALTA (American Land Title Association) extended coverage, ALTA residential and ALTA homeowner’s coverage. The ALTA policies and other […]
Local governments enact zoning ordinances to conserve and promote what they consider to be public health, safety, convenience and general welfare of the community. Most zoning ordinances divide a county or municipality into swaths of property that allow different uses (e.g., separating residential from commercial and industrial uses) and that restrict relatively intense uses to […]
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