If you are buying, selling, or doing pretty much anything else with a piece of real estate, it’s important that you perform your due diligence in regards to your title. We understand that real estate law can be pretty complex, so we’ll start with the basics.
As Nashville grows, developing the right housing to accommodate the influx of new residents can be a challenge. There are a number of reasons for the region’s growth. Among them is the fact that Tennessee leads the nation in small business growth. WalletHub recently ranked Tennessee as the 9th best state in the country for finding a job and 5th in the country for employment growth.
Nashville law firm, Rochford Law & Real Estate Title, releases a comprehensive eBook helping developers and real estate investors better understand the complexities of Tennessee’s real estate law.
Nashville, TN: Rochford Law & Real Estate Title, a well-respected member of the Nashville legal and real estate community, is pleased to announce the publication of the firm’s latest resource for real estate investors and developers. The new eBook, “The Tennessee Horizontal Property Regime: A Guide to the Key Parts of Title 66, Chapter 27” dives deep into Tennessee’s Horizontal Property Act law to offer expert analysis to investors and developers.
As Nashville’s population grows and as the tourism industry continues to blossom, it’s no surprise that property owners are looking to cash in on the boom by renting a room or an entire home through popular online vacation rental sites like Airbnb and HomeAway.
Considering that in 2016, hotel occupancy rates stood at nearly 75% and that from 2010-2015, Nashville was tops in the nation for percentage growth in average daily revenue per room (Tennessean), it also makes sense that visitors to Music City are knocking at your front door (or your neighbor’s).
Rochford Law & Real Estate Title, a long-standing member of the Nashville legal community, has released a new resource for investors and developers to help them better understand and navigate the complexities of the commercial real estate closing process.
A “Like-Kind Exchange,” also known as a 1031 Exchange or a Starker Exchange, allows investors to defer paying capital gains taxes on investment properties when they are sold, as long as another “like-kind” property is purchased with the profits of the sale. Congress enacted the like-kind exchange statue nearly 100 years ago, in 1921, to help investors avoid unfair taxation of ongoing investments in property and to encourage active reinvestment (Federation of Exchange Accommodators).
As a buyer, after shopping around for the best interest rates, a competent
What is Adverse Possession?
In the simplest of terms, adverse possession is a legal concept allowing individuals to acquire the title to a piece of land that they do not own because they have openly trespassed, inhabited, possessed, or used the property for an extended period of time. In Tennessee, neighbors or adjoining landowners can wind up in court over imprecise descriptions in deeds; fences that have marked boundaries for years, but are misplaced; outbuildings that straddle property lines; community gardens that have taken root on “vacant” lots; or deed overlaps where there’s not enough land to fulfill the descriptions for two adjoining parcels.
HPR stands for Horizontal Property Regime. In case you missed our last article on HPRs, we’ll fill you in before continuing onwards.
A Horizontal Property Regime is a legal way to divide a single property into two different properties, which is something that comes into play quite often in cities like Nashville. With Nashville’s economic boom, it has been estimated that as many as 100 people move here every single day.
Working in the field of real estate law, much of what we do is preventative. To people who are careful, hire a real estate lawyer, and get everything right the first time around, the dangers involved in real estate transactions might feel very abstract. Make no mistake: the dangers are very real.
Topics: Deed, Nashville Real Estate, Nashville Real Estate Attorney, Nashville Real Estate Laywer, Quiet Title, Quiet Title Lawsuit, Residential Real Estate, Residential Real Estate Law, Tax Sale, Title