Overview This document summarizes disclosure obligations for licensed real estate agents who are parties (buyers or sellers) in residential real estate transactions in Maryland, the…
Maryland • District of Columbia • Virginia Quick Reference Guide for Licensees This guide summarizes the key material fact disclosure obligations for real estate licensees…
Protecting Your Clients — and Your Reputation Buying a home is one of the largest investments most people will ever make. As real estate professionals,…
Few moments are more frustrating for buyers, sellers, and agents than a delayed closing. Everyone has worked hard to reach the finish line—only to find…
When you buy property with another person—whether it’s a spouse, family member, friend, or business partner—one small line on your deed can make a huge…
1. Forms of Co-Ownership The legal structure of ownership in Maryland, D.C., and Virginia determines each party’s rights and what happens upon death or sale:…
The U.S. Treasury’s Financial Crimes Enforcement Network (FinCEN) has rolled out new nationwide reporting rules for real estate transactions — and they could affect how…
When someone buys a condominium, the parking space that comes with the unit might seem simple — but not all parking is the same! In…
Why It Can Cause More Problems Than It Solves Parents sometimes think it’s a good idea to put their child’s name on the deed to…
The Foreign Investment in Real Property Tax Act (FIRPTA) is a U.S. law that affects real estate transactions when a foreign person sells U.S. real…
It’s a little-known fact that investment real estate can be purchased with IRA retirement funds if special requirements and procedures are satisfied by your prospective…
When you sell your primary residence, the IRS gives you a major federal tax break under Internal Revenue Code §121. Here’s what homeowners should know…
When you are looking to purchase a property, you may not be aware of the legal issues that could arise. These issues are more common…
Each year more and more people learn about and get into the process of purchasing or selling real estate. Unfortunately though, like anything in life,…
You may have heard of foreclosure before, but if you’re like countless Americans across the country, you might be a little hazy on the details.…
Real Estate Litigation Lawyer Real Estate Law The different matters of buying and selling real estate can be a lot to handle for someone getting…
It seems counterintuitive to think of being injured while at the hospital – the place where already injured people go for help! But unfortunately, it…
MARYLAND INSURANCE ADMINISTRATION PROHIBITS TITLE AGENTS FROM PROVIDING FREE HOME WARRANTIES In a bulletin issued on December 18, 2017, the Maryland Insurance Administration has declared…
Several provisions of the new tax law (and one provision that was not changed) have an impact on the housing market: Mortgage interest deductions: Effective on…
Goldstein & Levy, P.A., General Counsel Legal Bulletin NOVEMBER 2, 2016 | FRAUDULENT EMAIL ALERT! There is another fraudulent email scam involving real estate agents…
Goldstein & Levy, P.A., General Counsel Legal Bulletin JUNE 20, 2016 | NEW MARYLAND LAWS OF INTEREST TO REAL ESTATE PROFESSIONALS Governor Hogan signed the…
Goldstein & Levy, P.A., General Counsel Legal Bulletin MARCH 15, 2016 | U.S. TREASURY CRACKS DOWN ON CASH BUYERS OF LUXURY REAL ESTATE In an…
Congress Increases FIRPTA Withholding Rate… FIRPTA is a law passed in 1981 requiring foreign persons to pay U.S. Income tax on the gains they make…
Goldstein & Levy, P.A., General Counsel Legal Bulletin February 8, 2016 | MAR Residential Contract of Sale Changes… Please note the following changes that have…
Capitol Title becomes one of the first to be awarded certification in ALTA Best Practices by leading national auditor… Federal regulations now require that lenders…
Goldstein & Levy, P.A., General Counsel Legal Bulletin June 18, 2015 | BREAKING NEWS! CFPB delays implementation of TRID (Know Before You Owe) rules from…
Goldstein & Levy, P.A., General Counsel Legal Bulletin January 7, 2015 | Mortage Forgiveness Debt Relief Act Extended Retroactively for 2014 Uncertain Whether Extension Through…
Goldstein & Levy, P.A., General Counsel Legal Bulletin December 8, 2014 | Alert! Email Wire Fraud Scams on the Rise We have been alerted to…
Effective Monday, August 18, 2014, the Maryland Real Estate Commission has adopted a new regulation requiring all agents who recommend a service provider in the…
CFPB Finalizes “Know Before You Owe” Mortgage Forms The Consumer Financial Protection Bureau (CFPB) is issuing its final rule today (November 20, 2014) requiring the…
How Will the New “Qualified Mortgage” Regulations Affect Your Transactions? The final rules and regulations implementing portions of the federally enacted Dodd-Frank Act will become…
Maryland’s New “Automatic Subordination” of Junior Mortgages Law Takes Effect on 10-1-2013 Maryland has enacted a new “Automatic Subordination for Junior Mortgages” statute will take…
Goldstein & Levy, P.A., General Counsel Legal Bulletin January 18, 2013 | Shore Sale Debt Relief Extended Through 2013 Thankfully, Congress has acted to extend…
Tax Break For Distressed Homeowners Is Scheduled To Expire Federal tax law generally requires that a taxpayer who has indebtedness that is forgiven by a…
Hurricane Sandy May Delay Your Closing Many (if not most) mortgage lenders will require that homes in FEMA declared “disaster areas” (that includes Maryland and…
You Better Think Before Your Hit The Send Button On Your Next Email! We are all familiar with the requirement that a contract for the…
“Phantom” Liability for Condominium and Homeowner’s Association Dues and Assessments Provide Another Reason for Distressed Sellers to Short-Sell Their Homes Last April we distributed a…
Taxation Of Forgiven Indebtedness and the Mortgage Forgiveness Debt Relief Act Of 2007 Taxation of Forgiven Debt Generally, if you owe a debt to a…
Fed Government Announces $25 Billion Mortgage Relief Plan Here is your “Boiled Down” overview of the plan. On Thursday, the federal government announced a $25…
Is Property “Flipping” Illegal? The term “property flipping” refers to a transaction in which an investor contracts to purchase property and then enters into an…
Are Unregistered Ground Rents Extinguished After September 30, 2010? On May 8, 2010, Governor O’Malley signed into law Chapter 290, HB 580 entitled “Ground Rents…
Surprised Owners Find That Personal Liability Looms For Unpaid HOA Aand Condo Fees (And Can Result In Additional Closing Costs For Purchasers) When owners of…
Goldstein & Levy, P.A., General Counsel Legal Bulletin September 27, 2011 | MAR Makes Revisions In October, 2011 Contract Forms The Maryland Association of Realtors…
Fraud Scam With A Smartphone We would like to alert you to a new fraud scam involving an emerging technology that enables individuals to deposit…
SCAMS: If It Seems Too Good To Be True… In recent months (and more so in recent weeks) we’ve gotten calls from many real estate…
NEW FTC Mortgage Information Rule Affects Brokers And Agents The Federal Trade Commission (“FTC”) recently enacted the Mortgage Acts and Practices – Advertising Rule (“MAP”)…
Goldstein & Levy, P.A., General Counsel Legal Bulletin July 11, 2011 | Make Some Money and Make A Difference As Well “Bargain Sales” to Charity…
Goldstein & Levy, P.A., General Counsel Legal Bulletin February 28, 2011 | FTC Mortgage Assistance Relief Services (MARS) Rule Impacts Many Real Estate Professionals On…
Goldstein & Levy, P.A., General Counsel Legal Bulletin February 28, 2011 | FHA Waives 90 Day Anti-Flipping Rule Through December 31, 2011 HUD has announced…
Goldstein & Levy, P.A., General Counsel Legal Bulletin February 11, 2011 | MD Real Estate Commission Provides Guidance To Agents Holding Open House On February…
Goldstein & Levy, P.A., General Counsel Legal Bulletin February 15, 2011 | Is It Time To Repay The First-Time Homebuyer Tax Credit? The IRS has…
Goldstein & Levy, P.A., General Counsel Legal Bulletin February 3, 2011 | A 25-Year Foreclosure? Recent news stories have focused on the problems and delays…
Goldstein & Levy, P.A., General Counsel Legal Bulletin January 12, 2011 | Withholding Rate on Sales of MD Real Estate by Non-Resident Sellers Reduced as…
Goldstein & Levy, P.A., General Counsel Legal Bulletin September 30, 2010 | New 1099 Rules for Small Landlords On September 27, 2010 the Small Business…
New Legislation Regulates Services Provided Through “Real Estate Teams” On May 20, 2010, Governor O’Malley signed into law Chapter670, HB 406 entitled “Real Estate Licensees—Services…
Goldstein & Levy, P.A., General Counsel Legal Bulletin September 27, 2010 | Are Unregistered Ground Rents Extinguished After 9/30/2010? On May 8, 2010, Governor O’Malley…
Goldstein & Levy, P.A., General Counsel Legal Bulletin September 24, 2010 | New Legislation—Maryland General and Limited Power of Attorney Act On May 20, 2010,…
Goldstein & Levy, P.A., General Counsel Legal Bulletin February 15, 2011 | Tax Assessment Appeal Process In light of recent changes in market conditions many…