NEVADA REAL ESTATE LAWYER -- NEVADA CONTRACT LAWYER

REAL ESTATE TRANSACTIONS:
Mistakes can be very costly in Real Estate transactions. Accordingly, the cost of hiring a professional to make sure that the transaction is handled correctly may be far cheaper than litigating a transaction gone bad at a later date.

Black & LoBello is a firm with much experience in real estate transactions. From outright purchase/sale transactions of commercial and residential property to transactions such as Commercial & Residential Lease Contracts, Lease Option Contracts, Contracts for Deed, All Inclusive Trust Deeds, Joint Ventures, Land Trusts, Development Contracts, Construction Contracts, Mechanics Liens and other transactional situations, we are equipped with the knowledge and experience to properly handle the transaction.

Black & LoBello also handles residential and commercial evictions and foreclosures

LEASES:
Black & Lobello provides the services of commercial and residential lease drafting and review.

NEVADA DEEDS / REAL ESTATE CONVEYANCES:

Black & Lobello provides services in drafting and recording real estate transfer documents such as Quitclaim Deeds; Grant, Sale Bargain Deeds; and Warranty Deeds. We can also advise you with regard to the Nevada State Real Estate Transfer Tax and it's possible relevant exemptions. Mistakes in this regard can be very costly.

NEVADA REAL ESTATE TRANSFER TAX:

When buying, selling or transfering real estate located within the state of Nevada, it is important to consider the Nevada Real Estate Transfer Tax. The Nevada Real Estate Transfer Tax is significant ($2.55 per $500) and can add substantial cost to the transaction for the unwary. NRS 375.090 provides for several exemptions from the Real Estate Transfer Tax. Some of the commonly applicable exemptions are:

• A transfer to or from a Trust, if the transfer is without consideration
• A transfer to remove a co-owner or joint tenant that is made without consideration
• A transfer between affiliated business entities with identical common ownership
• A transfer between parents and children or from spouse to spouse
• A transfer to a business entity of which the grantor is 100% owner

When recording the deed to effectuate the transfer, the exemption must be clearly stated on the Declaration of Value form. Even if a valid exemption applies and a mistake is made in this regard, the transfer may be subjected to the real estate transfer tax. Therefore, consultation with a Nevada real estate attorney prior to the transfer may indeed save thousands of dollars that might be lost if a mistake is made and the deed is not properly prepared to claim the applicable exemption.

PROTECTING REAL ESTATE

Black & Lobello understands that a primary objective for any homeowner or real estate investor is to protect their valuable investment from potential risk of loss. Black & Lobello offers a free 1/2 consultation wherein we can evaluate your specific situation and goals about protecting your real estate and other assets and to offer the right protective solutions for you. Many of our clients are real estate investors from the very large to the small start-up investor and we have a great deal of experience in this area of the law.

NEVADA HOMESTEAD EXEMPTION:

Nevada Law (NRS 115.005 et seq.) provides for a Homestead Exemption for Nevada homeowners of up to $550,000 in equity. An individual is entitled to only one homestead and the claimed homestead must be where the individual resides. In order to take advantage of the Homestead Exemption the individual must claim the homestead expemption by filing a Homestead Declaration with the country recorder's office in the county in which the property is located. Once recorded, the homestead will be protected from execution by judgment creditors of the declarant for the equity in the property up to the protected amount. If the property has equity over and above the exempted amount, additional planning to protect the property is important.

PROTECTIVE ENTITIES FOR REAL ESTATE:

There are several effective methods for protecting real estate. Particularly when dealing with investment real estate (whether residential or commercial), it is important to remember the need for "front end" protection (protection from liabilities that come from the business side; for example, the property has a toxic mold issue and the renters sue the landlord for toxic mold poisoning) and "back end" protection (protection from the situatin where the owner of the real estate or the owner of the entity that owns the real estaet gets sued personally) (click here for a more thorough discussion of "front end" and "back end" liability ). Because of the "back end" exposure and other reasons, corporations are usually not the ideal vehicle for holding real estate. Some of the good alternatives to a corporation to hold and to protect real estate would be: a Limitied Liability Company (LLC), a Limited Partnership (aka: Family Limited Partnership) a Nevada Asset Protection Trust (aka: Nevada Spendthrift Trust, Nevada Onshore Trust, Domestic Asset Protection Trust) or a Land Trust.

BUSINESS TRANSACTIONS AND CONTRACTS:

The Black & LoBello transactional lawyers are very experienced, well versed in Real Estate Law, Contract Law, and Business Law and are well equipped to handle just about any type of business transaction. We have handled business transactions ranging from large casino purchases/sales, to large and small real estate developements, large and small business purchases/sales, buy-sell agreements, and much more. The transactions that we've handled transactions cummulatively represent hundreds of millions of dollars. We are dedicated to not merely drafting contracts. Rather our approach is to consult with the client before the transaction begins to determine the goals that the client desires to be achieved and we then work with the client to structure the transaction in the manner most beneficial to the client.