You would be amazed how many people come to closing without a picture ID. A notary public, often the closing attorney, is required to verify the identity of every person listed on a deed, deed of trust, mortgage, title insurance affidavit(s) and/or other document(s) requiring notarization. If you are one of these individuals, please make sure you have at least one form of photo identification with you. This can be a state-issued driver’s license or ID card or U.S. or foreign passport. Sometimes if none of these might be available, alternatives can exist but those would be on a case-by-case … Continue reading
Category Archives: Real Estate
5 Law Firm Carolinas Attorneys Recognized in The Best Lawyers in America
Five attorneys at Law Firm Carolinas have been named to the 2024 Edition of The Best Lawyers in America. Carole Albright, who is a Board Certified Specialist in Family Law, has been recognized in the practice of Family Law. Keith Black, who is a Board Certified Specialist in Family Law, has been recognized in the practices of Family Law and Family Law Mediation. Steven Black, who is a Board Certified Specialist in Residential Real Estate, has been recognized in the practice of Real Estate Law and Community Association (HOA and condo) Law. Jim Slaughter has been recognized in the practices … Continue reading
Fourth Circuit Makes Ruling on Attorneys’ Fees Amount
Under North Carolina law, parties entering into loan agreements may specify an amount for attorneys’ fees, in the event that one of the parties breaches or there is a default. The prescribed amount of attorneys’ fees may be up to 15% of the amount owed under the terms of the loan agreement. Frequently, the loan agreement is silent about the specific amount of attorney’s and the agreement simply states that the breaching party shall be responsible for “all reasonable fees and expenses.” The applicable statute defines “reasonable” as 15%. The United States Court of Appeals for the Fourth Circuit (which … Continue reading
What Is “Spot Zoning”?
Having served as a commissioner on a local zoning board, it was often argued that a proposed site or land use was “spot zoning” and therefore should not be approved. But what does that really mean? First, spot zoning is not necessarily illegal in North Carolina so long as there is a reasonable basis for the zoning designation. But what exactly is spot zoning? In Blades v. City of Raleigh, 280 N.C. 531, 187 S.E.2d 35, spot zoning is defined as follows: A zoning ordinance, or amendment, which singles out and reclassifies a relatively small tract owned by a single … Continue reading
Meister, Slaughter & Marshall Recognized
Law Firm Carolinas Partner Adam Marshall was a presenter at the Community Association Institute’s (CAI) 2023 Annual Conference in Dallas, Texas. The conference was attended by over 2,600 community managers, homeowner board members, leaders and business partners from 44 states and 10 countries. Marshall and Augustus Shaw, IV, Esq. of Arizona, presented on “Navigating Board Officer Responsibilities and Avoiding Conflict.” Marshall was also recently appointed by the Greensboro City Council to the Greensboro ABC (Alcohol Beverage Control) Board. Marshall has previously served on the Greensboro Human Relations Commission and Greensboro Board of Adjustment as well as Chair of the Greensboro Zoning Commission and … Continue reading
City of Greensboro Adopts New Short Term Rental Ordinance
At the May 23rd special City Council meeting, the Council adopted new regulations to govern and regulate short term rentals in Greensboro. Previously the City did not have provisions within their ordinance that directly spoke to short term rentals. As we are all aware, short term rentals are prevalent and are a growing sector of any local rental economy. Under the new ordinance, which will go into effect on January 1, 2024, a short term rental is defined as “the rental (for a fee or other valuable consideration) of a portion or all of available bedrooms of a residentially used … Continue reading
NC Community Association Legislative Update – May 9, 2023
Thursday, May 4, was the “crossover deadline” in the NC General Assembly. That’s the date bills not related to taxes or spending must have passed one chamber to be eligible for consideration during the 2023-2024 legislative session. CAVEAT: In terms of legislation, “dead” doesn’t always mean “completely dead.” A News & Observer story once noted that legislative rules “are made to be circumvented, so there are many ways to keep legislation alive.” (For instance, proposals sometimes appear later in other bills as “technical corrections.”) With the crossover deadline behind us, now is a good time to revisit my last legislative update (NC … Continue reading
What Happens to the House in a Divorce or Separation
In many marriages, the largest asset is the marital home. Not only does it have significant financial value, it usually has great sentimental value for the owners. If you are separating and looking towards divorce, one of the first decisions separating you will have to make is who is moving out of the home. In North Carolina, neither party can “kick out” or “lock out” the other party absent a court order or agreement so sometimes the hardest part of separating is actually getting separated. Before or after separation, however, you and your spouse can settle some or all of their marital … Continue reading
Service Members’ Right to Interest Reduction to 6%
Under the Servicemembers Civil relief act (SCRA), the maximum interest rate that may be charged on certain VA loans is 6 percent during the period of the servicemember’s qualifying military service. Also established with the foregoing, the SCRA restricts foreclosures on obligations held or guaranteed by servicemembers, provides protections against default judgments, and permits early termination of certain leases, including motor vehicle leases. Under most circumstances, the loan holder, your loan servicer, will determine automatically whether the borrower might qualify for this interest rate limitation and apply any reduced rate. In the past several years this has not been an … Continue reading
Court of Appeals Confirm Vagueness and Ambiguity in Zoning Ordinance Will be Viewed in Favor of Free Use of Property
This week the North Carolina Court of Appeals issued a ruling in Frazier v. Town of Blowing Rock, 2022-NCCOA-782, that confirms the views of the Courts in this State that vague terms or ambiguity in language, in this case relating to a local zoning ordinance, will be viewed in favor of the free use of an owner’s property. In the community and association world (HOA and Condominiums) we have seen this line of decisions from the courts before as they deem vague restrictions or covenants in association governing documents as void and unenforceable for vagueness. This holds true for local … Continue reading
Non-Foreign Affidavits / FIRPTA When the Seller Is a Foreign National
You may be asked to sign a non-foreign affidavit, also called a FIRPTA, if you are selling property. It is one of the many documents that will be a part of your set of seller documents. People can get a little confused or upset when they see language on the affidavit concerning a 10% or 15% IRS withholding. The FIRPTA does not apply to everyone and is a common form to help the closing attorney confirm whether there will be an IRS withholding at closing. It’s simple enough to follow the guidelines but I find it’s a bit better to … Continue reading
What are Accessory Dwelling Units, and How Do They Affect Planned Communities?
The housing market is continuously in flux. New housing products, designs, and concepts are constantly entering neighborhoods and forcing Americans to rethink what community living means and looks like. Accessory Dwelling Units (“ADU”) are nothing new. The concept has been around for some time. Think the mother-in-law suite built behind the principal structure or potentially an efficiency apartment built above a detached garage. In Greensboro, NC, for example, ADUs are permitted in all residential zoning districts so long as they meet certain additional planning standards: Accessory Dwelling Units Unless otherwise expressly stated, all accessory dwelling units must meet the requirements that apply to principal … Continue reading
Law Firm Carolinas Named to Fast 50 List
Law Firm Carolinas has been named by the Triad Business Journal to its “Fast 50 List,” which consists of the 50 fastest growing businesses in the Triad. It is the firm’s third recognition on the Fast 50 list. Managing Partner Carole Albright points to several examples of the firm’s growth over the past three years, including the purchase of a larger Charlotte office, renovations in the Greensboro office, and the opening of several new offices, for six total—Greensboro, Charlotte, Raleigh, Wilmington, Columbia (SC), and Greenville (SC). Partner Jon Raymer accepted the firm’s Fast 50 recognition at the Business Journal’s recognition … Continue reading
Update—Delinquent Homeowners May Have Access to Funds to Pay HOA and Condo Liens
As I wrote a few months ago, South Carolina homeowners have access to federal funds that have been allocated to assist homeowners in financial distress as a result of the COVID-19 pandemic. It has now been confirmed that the program will include paying debts associated with HOA or condominium assessments, late fees, interest, liens, and foreclosure-related costs. As anticipated, the State of South Carolina has been awarded $144,650,807.00 by the U.S. Department of Treasury’s Homeowner Assistance Fund (HAF), which was established under Section 3206 of the American Rescue Plan Act of 2021. What does that mean for an HOA … Continue reading
Remote Online Notarization Coming (Again)!
With the passage of NC House Bill 776, North Carolina joins 37 other states in adopting rigorous RON (Remote Online Notarization) policies. This brings the end to end security measures and accurate closing procedures that lenders and other industry stakeholders demand, while offering the convenience and safety customers desire. The process revolves around the software platform, one of the most common being Pavaso. This swiss-army knife solution combines the teleconferencing abilities of Zoom with document management and signing capabilities of Docusign and adds encryption and recordkeeping and identification verification. This special suite of tools works together to solve the hardest … Continue reading
NC Community Association Legislative Update – June 21, 2022
ADOPTED BILL HAS IMPORTANT HOA/CONDO FIXES AND CHANGES TO HOW CONDOS ARE CREATED Due to other more pressing issues, several important bills impacting community associations were not addressed by the General Assembly in 2021. Those proposals have seen quick action this week, been adopted, and sent to the Governor for signature. Senate Bill 278’s(“SB278”) important features include that it: (1) “rescues” many older associations from concerns about the Marketable Title Act due to appellate decisions in 2021, (2) makes clear the NC Condominium Act applies to older condos when pursuing unpaid assessments, and (3) changes how condominiums are created. (The … Continue reading
Tips on Filling Out the Fannie Mae/Freddie Mac Questionnaire
Effective early this year Fannie Mae and Freddie Mac, the two largest purchasers of residential real estate mortgages from lenders, started requiring information regarding the structural integrity and plans for addressing deferred maintenance for almost all condominium buildings. This is in direct response to the tragedy of the partial collapse of the Champlain Towers in Florida. Is the Association legally obligated to complete the questionnaire? Unless the governing documents of the Association require it (which is highly unlikely) the Association is not obligated to complete the questionnaire; however, not filling out the questionnaire will almost certainly result in 60-70% of … Continue reading
What is the Board of Adjustment?
The Board of Adjustment is a group of members that are appointed by a local government, such as a City or Town, pursuant to NCGS 160D-302, to “hear and decide all matters upon which it is required to pass under any statute or development regulation adopted under this Chapter.” So what in the world does that mean? Typically a Board of Adjustment hears appeals, variance requests, or requests for special use permits as required under state statute and any local development ordinance. The Board is appropriately named as, when you think about it, they can adjust from the strict application … Continue reading
Do You or Owners Need Assistance Paying HOA/Condo Dues? – The NC Homeowner Assistance Fund May Help
Last year President Biden proposed and Congress adopted the American Rescue Plan, which was a $1.9 trillion coronavirus rescue package designed to speed America’s recovery from the Covid pandemic. Among the bill’s many proposals was almost $10 billion for states, territories and tribes to provide relief to vulnerable homeowners through a “Homeowner Assistance Fund.” Monies from the Homeowners Assistance Fund were not immediately available. Instead, each state had to draft a state-specific plan, submit it to the US government, and get the plan approved by the US Treasury. In each state, different sorts of relief were considered, such as mortgage … Continue reading
The Strange Case of Real Estate and Probate
One of the biggest talking points in estate planning and estate administration conferences is what assets do and do not pass via probate. To answer the basic question of what probate is, which is a topic in and of itself, probate is the court-supervised procedure by which assets pass from a decedent to devisee in the case of testate decedents (those who die with a Will) or from decedent to intestate heirs in the case of intestate decedents (those who die without a Will). The probate procedure in North Carolina, also sometimes referred to as estate administration, is outlined in … Continue reading