DeBlasis Law Firm, LLCIntegrity, Perspective, Results2024-03-12T19:30:13Zhttps://www.deblasislaw.com/feed/atom/WordPress/wp-content/uploads/sites/1402226/2021/08/DEBLASISLAW-150x150.jpgOn Behalf of DeBlasis Law Firm, LLChttps://www.deblasislaw.com/?p=2543712024-03-12T19:30:13Z2024-03-12T19:30:13ZWhat “as is" means
When a seller lists a property "as is," the buyer is purchasing the property with all its faults and imperfections. This status includes both visible and hidden defects. By agreeing to buy a property "as is," the buyer assumes all the risks associated with the property's condition.
Why sellers use "as is" clauses
Sellers often use "as is" clauses to protect themselves from future legal claims related to the property's condition. By selling a property "as is," sellers can avoid the responsibility of having to disclose every potential issue with the property and can limit their liability if problems arise after the sale.
How buyers can protect themselves
For buyers, purchasing a property "as is" requires careful consideration. Since the seller is not obligated to make any repairs or improvements, buyers must inspect the property and assess its condition before making an offer. Buyers must understand the risks involved and factor in the cost of any necessary repairs or upgrades when determining a property's value.
When sellers can be liable
Even when advertising a property "as is," sellers may still be liable for unsafe conditions they know about but do not disclose, such as toxic waste on the property. While the "as is" clause generally limits the seller's responsibility, it does not absolve them of liability for intentional misrepresentation or fraud.
Sellers need to be honest and transparent about any known issues with the property, even in an "as is" transaction. Failing to disclose material facts could lead to legal action and significant financial consequences. Buyers should also conduct due diligence, including environmental assessments, to identify any potential risks associated with the property before completing the sale.]]>On Behalf of DeBlasis Law Firm, LLChttps://www.deblasislaw.com/?p=2543692024-02-22T18:48:35Z2024-02-23T18:48:06ZInclude all relevant information
Any missing information could prove fatal to the enforcement of your note. Therefore, the document should identify the parties involved in the transaction, while also including clarifying information such as the legal names, addresses and contact information of both the creditor and the debtor.
The note must also describe the terms of the agreement, such as the amount of money borrowed, the interest rate and the repayment schedule. Further information includes the total amount the debt owes, including the principal, interest, penalties for late payments and any other applicable fees.
Also, a promissory note should not have ambiguous language. The document should be clear in laying out the obligations of both parties without room to interpret terms in different ways.
Enhance authenticity
Both parties must sign the promissory note to make it legally binding. However, even a signed document can face a legal challenge. Consider having the signatures notarized or witnessed to add an extra layer of legality.
In addition, keep accurate records of all payments made by the debtor, as well as any communication related to the promissory note. If the debtor contests the validity of the note or claims to have made payments that you did not verify, you can use these records as evidence to support your case.
Avoid alterations
Once you and your debtor have signed the promissory note, avoid making any alterations to the document without the consent of the debtor. Unauthorized changes can void the agreement and make it unenforceable.
Conflicts over financial agreements can take many forms. Going over a promissory note for any defects may prevent any significant legal challenges from arising.]]>On Behalf of DeBlasis Law Firm, LLChttps://www.deblasislaw.com/?p=2543672024-02-08T03:09:28Z2024-02-10T03:09:20ZCheck property documents
The most logical step is to look at a property deed. This document contains a legal description of the property, including precise measurements and boundary lines. Additionally, plat maps available from your local assessor's office or planning department provide a visual representation of your property in relation to the surrounding area.
Examine property markers
Survey markers, such as flags or stakes, may mark the corners of your property. A metal detector could locate buried markers, often made of rebar. Additionally, sidewalk cuts or streetlights can sometimes indicate property lines, though they are not always reliable indicators.
Conduct a property survey
In the event other methods are not sufficient, consider hiring a professional surveyor to measure and mark your property lines. Surveyors use specialized equipment to determine precise boundaries based on legal descriptions and plat maps. While the cost may range from a few hundred to over a thousand dollars, a professional survey could provide the most definitive boundary lines.
Hiring a surveyor may also be a fast way to get property measurements in the event a legal dispute arises. This could be of help if your property could face a prescriptive easement or other encroachment that you should deal with before it takes effect.
The range of options available should give you confidence that you can come up with accurate land figures and avoid issues that prevent you from making full use of your property.]]>On Behalf of DeBlasis Law Firm, LLChttps://www.deblasislaw.com/?p=2543642024-01-26T03:32:05Z2024-01-27T03:31:58ZContracts
Contracts warrant a comprehensive review post-acquisition. Owners should scrutinize existing contracts for potential liabilities and obligations. Safeguarding the continuity of agreements and ensuring compliance helps sustain business relationships.
Intellectual property
Intellectual property that comes with the acquisition requires a meticulous examination. Owners have to determine ownership, validity and any potential infringements. Addressing any disparities or conflicts in IP rights helps protect the value of the acquisition.
Employee considerations
Transitioning personnel seamlessly requires a thorough examination of employment contracts and benefits. Owners have to ensure compliance with labor laws. They can make the transition smoother for everyone by managing challenges and addressing any arising issues.
Regulations
Owners need to conduct a comprehensive review of the regulatory landscape. This allows for identifying and rectifying any non-compliance issues. Ensuring adherence fortifies the new entity's standing and mitigates regulatory risks.
Finance review
Auditing financial statements and uncovering any undisclosed liabilities or contingencies is mandatory. An owner needs to address financial discrepancies. They should ensure they project transparency and financial stability to stakeholders.
Litigation assessment
After an acquisition, a meticulous review of pending and potential legal disputes must take place. Doing this provides insights into the acquired entity's legal standing. Owners need to develop a strategic plan to manage and resolve any legal challenges. They have to set the stage to mitigate litigation risks. Handling these points bolsters the company's legal resilience.
Post-acquisition legal considerations are pivotal in fortifying the success of a business merger. Diligent attention to these points lays the groundwork for a seamless transition and ensures that the newly formed entity is in the right shape for sustained growth and success.]]>On Behalf of DeBlasis Law Firm, LLChttps://www.deblasislaw.com/?p=2543612024-01-16T18:56:57Z2024-01-16T18:56:57ZWhat is commercial zoning?
Commercial zoning refers to the categorization of land within a municipality for specific business-related purposes. In Cincinnati, zoning laws divide properties into zones such as Local Business District and Central Business District. Each zone has its own set of rules about land use, building height and other factors.
How do I determine the zoning of a property?
The Cincinnati Zoning Code is a document that records the zoning classification of properties. The city's website also provides an interactive zoning map that allows users to search for specific addresses and view the corresponding zoning information.
Can I operate any business in a commercial zone?
No, not all businesses may operate in every commercial zone. Each zone has a list of allowable uses, and some businesses may need special approval or permits. Check the zoning regulations to ensure your business aligns with the designated zone.
What factors influence zoning decisions?
City zoning board officials make zoning decisions based on several factors. These factors include the property's location, surrounding land use and the city's long-term development plans. The board weighs these elements to maintain a balance between economic growth and the well-being of the community.
How can I request a zoning change?
If you wish to change the zoning of a property, you must submit a formal application to the Zoning Hearing Examiner. The application will undergo a thorough review process, including public hearings where stakeholders can express their opinions.
Are there restrictions on building designs?
Yes, commercial zoning laws often include regulations on building designs and appearances. These guidelines aim to create a cohesive and aesthetically pleasing urban environment. Business owners must adhere to these standards when constructing or renovating their establishments.
Can I operate a home-based business in a commercial zone?
Home-based businesses typically may not operate in commercial zones. However, specific regulations may vary, and you should consult the Cincinnati Zoning Code for accurate information.
Navigating commercial zoning laws may seem daunting, but having a clear understanding of the regulations ensures a smoother process for businesses in Cincinnati. Compliance with these laws is not only the law but also contributes to the harmony and development of the city.]]>On Behalf of DeBlasis Law Firm, LLChttps://www.deblasislaw.com/?p=2543592023-12-30T18:16:42Z2023-12-30T18:16:42ZCommon property defects
Commercial properties are susceptible to a variety of issues. Structural problems, environmental concerns or hidden damages can impact the building's value and functionality. Whether it is a leaky roof, faulty wiring or an undisclosed history, buyers have the right to know about these concerns before closing a deal.
Ramifications for buyers
Discovering undisclosed defects after completing a commercial transaction can be a harsh reality for buyers. The financial burden of repairs and renovations can quickly escalate. Moreover, the time and effort invested in a property with hidden issues can be a setback for the company.
Implications for sellers
Sellers face consequences for failing to disclose property defects. Beyond potential legal repercussions, a damaged reputation in the real estate market can hinder future transactions. Word-of-mouth travels fast, and a seller known for withholding information may find it challenging to attract serious buyers in the future.
Real estate agents must also maintain integrity throughout the transaction. They may be liable for failing to disclose information.
Protecting your investment
Experienced buyers understand the importance of due diligence. They must conduct thorough inspections and ask pertinent questions about the property. Address potential issues before finalizing any commercial transaction.
Honesty is not only ethically sound but also a fundamental aspect of successful and sustainable business practices.]]>On Behalf of DeBlasis Law Firm, LLChttps://www.deblasislaw.com/?p=2543562023-12-19T20:48:46Z2023-12-19T20:48:46ZCommunicate clearly
When initiating the collection process, creditors reach out to the debtor. Clear and respectful communication is key. The initial contact should:
Identify the creditor
Explain the purpose of the letter
Detail the amount owed
Inform the debtor of their right to dispute the debt within 30 days
Failure to send proper communication means debtors can sue your company for failing to meet these criteria.
Understand time restrictions
The FDCPA places restrictions on when you can contact debtors. You may only call them between 8 a.m. and 9 p.m. Be aware of the time zones to uphold privacy expectations.
Avoid harassment
FDCPA prohibits harassment. Business owners must refrain from any conduct intended to harass, oppress or abuse debtors. This includes avoiding threats, the use of obscene language or repeated calls with the intent to annoy.
Provide debt verification
Upon a debtor's request, businesses must verify the debt. This verification includes the original creditor's name, the amount owed and relevant information. FDCPA ensures debtors have the right to verify the legitimacy of the claim.
Ohio's statute of limitations on commercial debt is six years. Student loans, promissory notes or tax debts fall under different guidelines. Businesses must be aware of these limits to ensure compliance with FDCPA and state regulations.]]>On Behalf of DeBlasis Law Firm, LLChttps://www.deblasislaw.com/?p=2543542023-12-13T15:17:38Z2023-12-13T15:17:38ZAmbiguous language and poor drafting
Unclear contract language opens the door to different interpretations. When expectations differ, parties may disagree about the meaning of clauses. Accordingly, precise language in contracts can prevent such disputes.
Failure to clearly define obligations
Contracts serve as roadmaps for responsibilities. Outlining the duties, deadlines and deliverables for each party establishes a common understanding and reduces the chance of disagreements. When obligations are not defined, disputes often arise.
Changes in circumstances
Unforeseen events can also impact contractual agreements. Economic issues, natural disasters or changes in regulations can affect the validity of contracts. In this case, including clauses that anticipate possible changes can help.
Breach of contract
A breach occurs when one party fails to fulfill its contractual obligations. Whether it is a failure to deliver goods, provide services or meet deadlines, breaches can cause disputes. Clear communication can help prevent minor breaches from escalating into full-blown conflicts.
Misrepresentation and fraud
Misleading information or misrepresentation can also lead to disputes. If one party provides false information during negotiations, the other party may suffer losses. Vigilance in verifying information during negotiations is important in stopping disputes related to misrepresentation.
As reported by Entrepreneur, 50% of small businesses fail within five years of launch. Contract disputes likely represent a portion of these failures, so avoiding common issues can facilitate longevity and success.]]>On Behalf of DeBlasis Law Firm, LLChttps://www.deblasislaw.com/?p=2543522023-12-08T15:51:11Z2023-12-08T15:51:11ZThe perks of buying
Purchasing a commercial property means investing in an asset that can appreciate over time. As you make mortgage payments, you build equity, essentially owning a piece of real estate that could prove valuable down the road.
Owning a property provides stability, especially if you plan to operate in the same location for an extended period. This stability can foster a sense of permanence for both your business and clients. Additionally, when you buy a commercial space, you have the freedom to modify it to suit your business needs. Whether it is remodeling the interior or expanding the premises, you have control over the space.
Considerations for leasing
Leasing offers flexibility that buying might not provide. It allows your business to adapt to changing needs without the commitment of ownership. Leasing also avoids the upfront costs associated with a property purchase, helping maintain healthy cash flow.
Another advantage of leasing is that the responsibility for maintenance and repairs often falls on the property owner. Leasing also allows you to test different locations without a long-term commitment. If your business is subject to location-specific trends, leasing gives you the flexibility to relocate strategically.
The commercial real estate market in Ohio ranks third in the U.S. for overall contributions to the state with a GDP of $64 billion in 2022. With the flourishing development market, especially in Cincinnati, businesses have many options to buy or sell a property depending on its needs.]]>On Behalf of DeBlasis Law Firm, LLChttps://www.deblasislaw.com/?p=2543492023-11-20T17:08:24Z2023-11-20T17:08:24Z1. Protection against data breaches
The prevalence of data breaches is a stark reminder of the vulnerabilities that businesses face in the digital realm. A robust cybersecurity system acts as a sentinel, fortifying the walls around sensitive information. Breaches not only compromise customer trust but can lead to severe financial repercussions and legal consequences. On average, a cyber breach takes a business 277 days to identify and contain it.
2. Preserving business reputation
In the age of instant information sharing, a tarnished reputation can be irreparable. Cybersecurity is not just about safeguarding data. It is about protecting the trust customers place in a business. A single security lapse can lead to a public relations nightmare, eroding brand credibility.
3. Ensuring business continuity
A cyber attack can bring operations to a grinding halt, disrupting the normal flow of business activities. Cybersecurity measures, such as robust backup systems and recovery protocols, are instrumental in ensuring business continuity. By minimizing downtime, companies can sustain productivity and preserve revenue streams.
4. Meeting regulatory compliance
Governments and regulatory bodies are increasingly stringent in their requirements for data protection. Non-compliance can result in severe penalties and legal entanglements. Cybersecurity is not merely a best practice. It is a regulatory mandate. Implementing robust cybersecurity measures ensures that a business remains in compliance with data protection laws, averting legal consequences and fostering a culture of ethical business practices.
In conclusion, cybersecurity is an integral aspect of modern business strategy. It is not merely a defensive measure but a proactive strategy for all-around protection.]]>