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CLF Blog

What is ancillary administration?

Uncategorized 06 Jan

Ancillary administration is a type of probate process that is used when a person who owned property in one state dies and leaves property in another state. Ancillary administration is necessary to probate the out-of-state property, which allows the personal representative (executor) of the estate to distribute the property according to the terms of the […]

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Before you call an Ohio probate lawyer

Uncategorized 06 Jan

f you are considering calling a lawyer for a probate case in Ohio, it is important to be prepared and to have a clear understanding of your legal needs. Here are some steps you can take before calling a lawyer to ensure that you get the most out of your consultation: By following these steps, […]

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All foreclosures are not created equal

Foreclosures| Real Estate Law 22 Dec

I’ve fielded many questions from real estate investors about how a foreclosure works in Ohio. The most common question goes something like this: “do I get clear title if I buy this property,” but what they’re really asking about is the risk. The only real answer to this question is, with any other area of […]

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Private Lending Documents

Mortgage Lending| Real Estate Law 04 Mar

An investor, maybe you, wants to lend some money to a real estate investor. What kind of documents are required for this transaction? The answer depends on the complexity of the transaction, but lending professionals tend to use similar documents across the board for a standard transaction. We will start with the most important documents […]

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Private Lending Basics

Mortgage Lending| Real Estate Law 19 Feb

Private lending, or “hard money” lending, is a great way to deploy funds in a self-directed IRA. With interest rates approaching 15-20% in some cases and fixed payments coming in every month backed by real estate, it’s a passive investment that’s hard to beat. In this article, I’ve summarized a few key due diligence items […]

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The truth about land trusts in Ohio

Mortgage Lending| Real Estate 02 Jan

In my real estate law practice, clients often ask about land trusts and how to use them in Ohio. The truth is that in my opinion these structures needlessly complicate an investor’s deal structure and don’t provide any benefits that aren’t already available with an Ohio LLC. They’re often pushed by ‘strategists’ who don’t have […]

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Home sale fraud: examples

Real Estate Law 23 Sep

Home sale fraud by the seller is so common that we deal with it nearly every day. When I hold a consultation with a client, it’s often helpful to give examples of prior instances of fraud where a court held the seller liable. This gives us a yardstick of severity by which we can judge […]

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Dividing the Founders’ Pie: Startup Ownership

Business Law| LLCs| Operating Agreements 22 Sep

One of the questions I wish clients would ask more is whether their division of ownership is a fair one. Most owners, in their fairness calculation, apply the following formula: 100% ÷ number of founders This advanced calculus may appear fair and equitable, but the reality is that it ignores many dimensions of the co-founder […]

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Mechanic’s Lien Basics for Contractors

Real Estate| Real Estate Law 18 Sep

Mechanic’s liens are the easiest way for a contractor to collect from deadbeat customers. The legal process, however, is not easy. Below we’ll detail some of the requirements and give a practical overview of the process. Why a mechanic’s lien? A mechanic’s lien has the same effect as a mortgage on property. If you successfully […]

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Suing the seller for fraud

Real Estate| Real Estate Law 15 Sep

Every time there’s a torrential downpour, we can count on many new homebuyers calling us with stories of wet basements and leaky roofs. These problems can put a homeowner out thousands. It’s only fair that a seller who advertised the home as perfectly dry and habitable should be held to account for concealing a leaky […]

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