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About transactionsengineer

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    Calling AND Marketing

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    New Jersey
  • Interests
    Cash Offers
    Simultaneous Closings
    Asset Protection
    Estate Planning
  1. Please elaborate on your part in the alternative lending arena and what borrowers should consider. Thanks.
  2. MichaelC, Looks like I'm late to the party on this question. Anyway, I am a graduate of Golden Gate University School of Law but it doesn't take a lawyer to read what the law says. In this particular case, the 2017 Florida Statute, Chapter 475.01 (1)(a) answers your question. Carefully read the definition of a broker. Even before you leave the first line, you'd read, "“Broker” means a person who, FOR ANOTHER, and for a compensation..." I've purposely capitalized what you need to know. Here is a link to the 2016 Florida Statute PDF, which holds the same definition. http://www.myfloridalicense.com/dbpr/servop/testing/documents/printable_lawbook.pdf Good luck.
  3. This one isn't difficult to handle. You said that your assignment fee is to go through escrow. This is so that parties won't have to hand you the fee. It comes from the deal. Here's what you can do: 1. Inform the seller (Homeowner) that the buyer wishes to have the assignment fee covered at escrow. 2. Tell the seller (homeowner) that to release the pure option, you'll need the seller to sign an invoice for your fee to instruct escrow to pay you in exchange for the option release. 3. Submit the invoice to escrow and receive a written confirmation. 4. Sign an assignment form releasing the pure option and provide both option and assignment to the seller (homeowner) who will submit it to the escrow officer. 5. Wait for disbursement at closing. Your fee will be paid as a transaction consultant from escrow disbursement. * From your friendly neighborhood Transactions Engineer.
  4. Forget buying the house. The person wants out so have her give you the home via Subject-To. This depends on the state you are in because some states will not let you sub-to anymore. If were to do this, I would have the current owner transfer her property into an LLC, claiming that it is being done for estate planning purposes so no taxes are required in the transfer. Then the current owner can sell me her LLC for $10. The LLC owns the home and the rights to the home. I would own the LLC and can sell it from the LLC at my leisure. If you are still intent on doing the short sale, you will need to put together a package of comparables or have an appraiser give you a price based on lower comparables that go against the BPOs. The BPOs are usually higher and will get you a small discount on the notes. Hope this helps you. Daniel Ng, JD/LL.B http://www.tradetheyen.com
  5. You can definitely buy property in Kuwait and not be Kuwaiti. It is all about money. They also believe in the 99 year mortgage. As for your question about setting up a corp here in NJ. Yes, I live in NJ. If I were to incorporate an LLC, I would do it in Delaware. Delaware has advantages that NV does not such as $50 annual resident agent fee for the life of the corporation and setting classes of distribution within your LLC for estate planning purposes. Keep in mind that if your property is in NJ, no matter what state you incorporate in, you will need to file a foreign corporation in your home state to protect your assets. Daniel Ng, JD/LL.B Foreign Exchange Speculator http://www.tradetheyen.com
  6. Wear what you would to a sporting event or something comfortable. If you aren't comfortable, you appear odd or nervous. This lack of confidence will not ease your buyers or sellers. Daniel Ng http://www.tradetheyen.com
  7. I'm familiar with John Alexander too. He is my business associate. Look us up on the topic of forex trading http://www.tradetheyen.com Looking forward to seeing some of you join us. Daniel Ng, JD/LL.B Foreign Exchange Speculator http://www.tradetheyen.com
  8. Chances are that you may have misunderstood an advertisement or the advertiser may be advertising his or her own fees to create the corporation for $85. The advertisement should state $85 plus state filing fees. You should also be aware that some states also have publishing fees. These are fees that you must pay to publish in a legal paper that your entity exists. New York is one such state. If you want to form a corporation cheaper, do it yourself. There are plenty of books to show you how. Daniel Ng, JD/LL.B Foreign Exchange Speculator http://www.tradetheyen.com
  9. Big H, Here is the information you wanted on security deposits here in NJ: The Rent Security Deposit Act Most agreements to rent housing, or leases, require you to pay the first month's rent before you move in. Most leases also require you to pay a security deposit. The New Jersey security deposit law, the Rent Security Deposit Act, specifies how a landlord must collect, maintain, and return a security deposit. Cite: N.J.S.A. 46:8-19. Under this law, a security deposit is money that belongs to the tenant but is held by the landlord in trust. A security deposit is made to protect the landlord against the tenant's failure to follow his or her responsibilities as stated in the lease. This includes nonpayment of rent, or damage done to the apartment by the tenant, other than ordinary wear and tear. The lease should state clearly where the landlord will hold your security deposit and under what conditions it will be returned. The security deposit law now says that a landlord can't take any money from the tenant's security—for repairs, rent due, or anything else—while the tenant still lives in the apartment or house. The Rent Security Deposit Act applies to all rental units, including tenant-occupied, single-family homes. The only exception is for rental units in owner-occupied buildings that have no more than two units other than the owner-landlord's unit. However, the law does apply even to tenants in these small, owner-occupied buildings if the tenant sends a 30-day written notice to the landlord stating that he or she wants the landlord to comply with the law's provisions. If you are dealing with a lease purchase, your lease should identify the Rent Security Deposit Act N.J.S.A. 46:8-19. Daniel
  10. Buy the manual. Learn all about a CA. http://www.naked-investor.com/the_manual.html
  11. Frank, Be really careful with posting a dummy ad. One problem comes to mind, you may have heard of it, called false advertising. Some states have laws against such a practice and can punish you with a fine, imprisonment or both. It isn't worth it. Daniel
  12. Doug, Here are the rules on defamation in Canada (Does Not Apply to Quebec): Defamation was well described in a 1970 British Columbia Court of Appeal decision called Murphy v. LaMarsh: (Defamation is where) a shameful action is attributed to a man (he stole my purse), a shameful character (he is dishonest), a shameful course of action (he lives on the avails of prostitution), (or) a shameful condition (he has smallpox). Such words are considered defamatory because they tend to bring the man named into hatred, contempt or ridicule. The more modern definition (of defamation) is words tending to lower the plaintiff in the estimation of right-thinking members of society generally. The common law protects every person from harm to their reputation by false and derogatory remarks about their person, known as defamation. In addition, all Canadian provinces have libel/ slander legislation (defamation includes slander and libel, where slander is verbal defamation and libel is printed defamation). It is a tricky and slippery field of law, based on statutes, English common law and many defences. Defamation tort law protects your reputation, not your feelings. The major points of defamation law in Canada are as follows: 1. Defamation is a "strict liability" tort. In other words, it does not matter if the defamation was intentional or the result of negligence. Defamatory material is presumed to be false and malicious. "Whatever a man publishes", according to one case, "he publishes at his peril." 2. Defamation must be a direct attack on an actual reputation, not an alleged reputation that a "victim" believes they deserve. A judge will assess the statement against the evidence of the victim's reputation in their community. 3. The remarks must be harmful (i.e. "defamatory") and this will be assessed on a case-by-case basis. Some statements are clearly defamatory. Other statements would only be defamatory to the person targeted by the remarks. What may be a nonsensical or mildly offensive remark to one person may constitute serious defamation to another. The judge will consider the situation of the person defamed in assessing the claim of defamation. 4. The defamatory remark must be clearly aimed at the plaintiff. General, inflammatory remarks aimed at a large audience would not qualify as the remarks must be clearly pointed at a specific person. 5. The defamatory remarks must be somehow conveyed to a third party. Private defamation just between two parties causes no reputation damage to reputation because there are no other persons to be impacted by the remarks. With libel, the damage is presumed as it is published. With slander (verbal defamation), proof of repetition to other people is essential to the claim; damages have to be proven (there are four exceptions: the defamation imputes the commission of a crime, the unchaste status of a woman, a "loathsome disease", or a professional incompetence). There are a number of special defences available against defamation: A. The "defamatory" remark was basically accurate. B. The plaintiff agreed with the defamatory remarks. For example, if the plaintiff subsequently publishes the remarks, they would be hard pressed to succeed in a defamation claim. C. Some special privileges exist for remarks made in certain venues such as in a court room during trial or in a legislative assembly or one of its committees. A privilege against defamation claims also exists for judicial or legislative reports. D. There is what is known as a "qualified privilege" where remarks that may otherwise be construed as being "defamatory", were conveyed to a third party non-maliciously and for an honest and well-motivated reason. An example would be giving a negative but honest job reference. The criteria for this defence are: defamation was incidental to the protection of an interest or discharge of a duty and the remarks were given to a person who had an interest in receiving the information. In assessing this defence, judges will ask themselves whether a reasonably intelligent person would have given the information to the person to whom it was conveyed. E. Citizens are entitled to make "fair comment" on matters of public interest without fear of defamation claims. A good example of this is a letter to the editor on a matter of public concern. The author of the remarks may even go so far as to presume motives on the part of the person who's actions are being criticized provided only that the imputation of motives is reasonable under the circumstances. The rule of thumb is that the fair comment must reflect an honestly held opinion based on proven fact and not motivated by malice. It should be noted, however, that some provinces have enacted laws which give their citizens varying rights to "fair comment." Situations which involve racial or hate defamation might find a more expeditious and cost-effective recourse through human rights legislation rather than defamation. You should also be aware that most provinces have implemented very short limitation periods with regards to alleged defamation appearing in newspapers or broadcast (as short as six weeks in some cases) so time may be of the essence. Daniel
  13. IF you are still seeking an attorney, I would suggest looking at The Martindale Directory http://www.martindale.com Daniel
  14. For all you sports fans who need further entertainment, here is a site that should be a part of your favorites. Topless Sports News If the link does not work, paste this link into your URL address line. http://www.toplesssportsnews.com/index_02.html Daniel
  15. Wheatgrass juice? What the heck is that? Why would Adam want to bring the wife to a motel when he as a perfectly well built room in his home and a bottle of Nyquil for the kids? Just some things that make you say, hmmm.
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