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Recent Posts in Asset Protection Category

  • Should I Sell My Wedding Ring?

    Selling your wedding ring following a divorce is ultimately a personal choice. Some people choose to keep the jewelry as a final keepsake because they cannot bring themselves to completely eradicate this part of their lives. A wedding ring serves as a reminder of what once was, and as such, it can be a special memento for many. If there are no hard feelings regarding the marriage, many people ...
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  • Mostly Unwanted Advice for "short-sellers" and for Owners of Property in Foreclosure

    I can’t say “don’t get there”, because some have no choice, and some will be in foreclosure or become short-sellers not by choice but by other considerations that are just as compelling. Whichever is true, don’t rely on advice someone else pays for. Sometimes a lawyer can’t help. There’s enough at stake that I always advise hiring your own lawyer. But even if your lawyer can’t help, he or she will ...
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  • How Much Damage Can One Gas Line Cause?

    Walton and Okaloosa Counties are about to be traversed, once again, by a natural gas pipeline to be built across the north end of both counties. This pipeline will be the same in character, but different in degree from two other gas lines that already run the same path. The others are smaller, with less pressure, and less content running through the pipe. Owners in both counties have been offered ...
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  • The Underside Of Reverse Mortgages

    Because I question my credentials as a world observer, I have been slow to write about reverse mortgages. Even though they use traditional legal theory, they reverse traditional economic thought in the sense that they advance a loan without an expectation that the loan be repaid until the borrower dies. Accumulated equity in real estate is mortgaged, usually in response to glitzy ads telling us ...
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  • The World Is Not Only Flat, It Hasn't Got A Ripple

    Our offices are in Shalimar and Destin. I live in Niceville. I feel like I know small towns. People know each other. More than not, you like the people you know. If we did not, I suppose we’d all live elsewhere. The purpose of this article is to share my opinion that your computer may sit in a small town office, but it is anything but a small town. Like a bad dog, it will be your friend- most of ...
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  • Cut Your Losses - Carefully

    I spent time in a professional office last week, waiting for someone to do embarrassing things. During the exam I was asked, for about the millionth time in the last 18 months, what to do about over-financed real estate. The answer to that question sounds so simple you’ll think I’m making this up. I’m not. See your lawyer, now. Here’s the setting for the question. The person said, just like many, ...
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  • Why Chapter 11?

    By personality I am an optimist. I believe business is not going away, and will come roaring back if we give it a chance. Nevertheless, many otherwise good businesses will experience serious cash flow or other financial issues during the economic downtime. Chapter 11 reorganization is a versatile tool that can help a struggling business restructure its debt and weather the storm. I have ...
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  • Use Your Attorney

    Notice I did not say heed your attorney, or even believe your attorney . and I certainly did not say abuse your attorney. I do want you to use your lawyer, and here’s why… The problem that prompts this advice comes from a young couple (they could be old) who own a home. They are required to relocate. Because of today’s market, they can’t sell the house for an amount that pays off the mortgage, and ...
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  • What a Pot of Stew Has in Common With a Real Estate Short Sale

    My mama was the consummate southern lady, and therefore, without the need to say, also a superbly able cook! Now, I know that the cholesterol content was out of sight, and that a cardiologist would tolerate us eating a good Southern meal only about once a year. Then, we were unconcerned about that, and one of her favorites, and mine, was “beef” stew. I’ve learned that the contents of those stew ...
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  • Sometimes Your First Loss Is Your Best Loss

    Traditional Real Estate professionals have known all along that real estate flips do not establish value. The things we’ve heard for years, quality of construction, location, landscaping, and even subjective desirability, all have a place in determining value. What the last guy paid for that property, or similar property in a recent transaction, also plays a role. But we now know that the last guy ...
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  • Foreclosed Properties

    I was wrong. Last month I wrote an article entitled “Specific Performance May Be No Performance At All.” Nothing could be more accurate than the title of that article. But the article was not. Before it was published, I sent the draft to a friend who responded by saying something like, “Are you nuts? Did you really go the law school?” I did some research and learned that my draft of that article ...
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