Complexities have overtime characterized real estate transactions and this is because of boundless procedures and terminologies. This has led people to believe that these transactions are only reserved for the professionals who have acquired expertise through training and long-term practice. However, this assertion couldn’t be further from the truth because it is important for you as a party in the property transaction to learn the basic lingo. Knowledge of the basic terms also protects you from unscrupulous agents that may not necessarily act in good faith.
The basic terminologies used are highlighted as hereunder;
This is an individual that has been granted power by the legitimate owner of property to transact on their behalf. Usually, such power is evidenced by the execution of a document called a power of attorney. However, powers granted could differ from one jurisdiction to another. Examples of agents include Lawyers like The Florida Stucco Lawyers , buyer’s agents, dual agents, sub-agents and a selling agent.
Conflict of interest
It may be the desire of two consenting parties to transact under the facilitation of a single advocate. The decision may seem appropriate due to retainer fees and general convenience. However, this has been cited as dangerous and detrimental to either of the parties. For example when a buyer and seller share an advocate it is probable that he will be partisan depending on where his bread is buttered.
Every party in a conveyancing transaction is required to exercise due diligence and ensure the ownership of the subject matter. Also, a title search is done to disclose the existence of any encumbrance.
This is a form of an existing claim over land belonging to a particular proprietor. Examples of an encumbrance include a lien, right of way, liability, mortgage, wayleave or a writ of execution. In essence this is significant for the fact that you cannot purport to transfer title of the property that has an encumbrance. For example, if your property is charged to a bank then you ought to undertake a discharge before you can sell.
Every conveyancing transaction is based on the mutual consent between parties. Such consent is usually captured in a sale agreement or a tenancy agreement drafted by the seller’s lawyers. Once these documents have been witnessed and executed it is the duty of the attorneys to lodge them for registration in the relevant government offices. Without such registration then the agreements or documents will lack legitimacy in law and can be declared void ab initio.
Planning a wedding is a daunting task. You need to have a wedding planner to help you for your big day to be a success. Before the wedding day, you need to look for a perfect venue. Here are some top tips on getting an excellent venue for your wedding.
Involve an industry expert from the word go
In as much as many engaged couples might like to handle this aspect of the wedding all alone, it is helpful to get the opinions of an expert of this industry. They have been in the wedding industry for years thus have knowledge and experience. Wedding industry experts like wedding planners can help point out a defect in your choice of venue that could end up ruining your big day. But, this doesn’t mean that your input and suggestions are not important.
Estimate of the number of guests
The number of the guest is the first thing to consider when shopping for a wedding venue. Remember, there are smaller and bigger wedding venues designed for different sizes of a wedding. Many guests on a small wedding venue might end up overwhelming the facility. Almost all wedding venues do count guests. Getting enough space for the expected space is nice.
Having a budget in mind for your wedding venue is important. The budget will guide you on the venue to look for. When conducting your research, list down the venues that have impressed you and fall under your budget. You can search for venues through online venue directories. Discuss and jointly agree on the maximum budget for the site.
You should book your venue early like few months before your wedding. You can choose dates when most venues aren’t busy holding events. You should avoid special days like Valentine’s day and other holidays because many venues are expensive during these seasons. Regardless of the day or reason, being flexible with the date and opting for an off-season or month can enable you to secure your dream venue at an unbeatable price. For instance, you’d likely pay more if you choose a Saturday or Sunday than Friday. Also, you’ll pay less if you wed in January than in December.
It is important to note the above factor so that you are not overwhelmed with last minute rush. A bad choice of venue can ruin your entire wedding, so be more careful and consider as many factors as possible before settling on a wedding venue.
When an organization buys insurance, it transfers the cost of a potential loss to the insurer in exchange for a fee known as a premium. Ideally, is just but a way of managing risks. Sadly, many organizations feel that business insurance is an unnecessary expense that they cannot afford or a luxury for more established organizations. Here are some of the benefits of insurance to your organization.
Protection against catastrophic loss
Business organizations can benefit immensely in being covered by insurance. Natural disasters and misfortunes including fire, tornados, hurricanes, floods do happen and they may be the cause of closing down your businesses. When an organization has insurance against these occurances, loss and closure are only temporary. Organizations should appropriate covers suitable for their industry.
Insurance against Liability
If a staff or any other persons slips and falls while in your organization or if your product has some defects that occasioned some injuries to a customer, without insurance, this can spell doom and even closure. Organization liability insurance covers all the accidents that occur on the organization’s premises, defects in products and mishaps that accidentally occur in the course of normal business operations – on and off the premises.
Even with the innovations of latest information technology systems and CCTV’s camera, many organizations still, fall victim to both cyber crime and break inns. Big organizations are specifically targeted by criminals of all sorts. Of late, international cyber crime is the main threat to governmental and non-governmental organizations. Small businesses have also not been spared with buglers looking for loopholes to sneak in or ambush even in broad daylight. Office implements, stock, cash, online business deals, customers’ reputations, and records need be insured against theft. There is insurance cover that can protect an organization against all these types of theft.
One thing that’s for sure is that almost all organizations are faced with litigation at one point or another. There are some legal challenges organizations face regardless of how big they are; it can be a significant risk if the management ignores litigation insurance cover. We live or rather organizations exist in a litigious society. Well, some governments and states have capped judgments and sought to do away with frivolous lawsuits. But this doesn’t protect organizations enough. Every day organizations are sued by individuals as well other businesses for various reasons, some legitimate others not. The fact of the matter is that organizations need insurance to protect them because even the most frivolous lawsuit can be very costly to defend.