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Jeffrey Howard Lerman

Jeffrey Lerman’s Answers

24 total

  • How can I take full ownership of a 50/50 partnership (LLC) with an ineffective business partner?

    I am in a 50/50 partnership with a business partner who is unable to hold up their responsibilities and damages the reputation of the business. My business partner is emotionally attached to the business and unwilling to let it go. What are my opt...

    Jeffrey’s Answer

    You really do need to meet with an experienced lawyer in this area for a full discussion of all relevant facts, including a review of the operating agreement and all other relevant documents, including e-mails, letters, etc. The economic stakes are probably high; invest in that full consultation.

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  • What needs to be done to make this happen, how much will it cost and how soon can it be turned around.

    Ex wife and I own a condo. We are both on title, I own the loan. Per our Divorce Decree we both own 50% when sold. I have been treating it as a rental to her and her and I have agreed to split it 60 (her)/ 40 (me) when sold. I am now having to ref...

    Jeffrey’s Answer

    I respectfully disagree with Mr. Price. While each of you certainly could hire your own lawyer, it is not required that you do so. It is possible for you both to be represented by one lawyer IF you are each OK with having one lawyer represent you both. If one lawyer does represent you both, that lawyer will have to provide a conflict of interest letter explaining essentially that he must not favor one of you over the other in drafting this document. HOWEVER, you may each decide you want to have your own lawyer.

    As I understand the Avvo rules, lawyers cannot solicit clients or work through Avvo. However, if you wish to contact me independently, I would be happy to give you a flat fee estimate for this.

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  • Should I sell or rent?

    I have a Victorian triplex in San Francisco purchased in 2002, free and clear with no mortgage and in pretty good shape. Presently, there are no renters. My question is, should I rent or sell this building? My understanding is it may be mor...

    Jeffrey’s Answer

    While you're right that, generally, vacant multifamily properties in SF can fetch a higher price due to the restrictive rent control laws, you'll get your best answer from a good RE broker. They have their finger on the pulse of the market.

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  • Real Estate: Quiet Title? I want to find out who owns my mortgage: I have been to the recorder's office, and I have discovered

    conflicting information. Should I hire someone to do a Chain of Assignment Assessment? Or should I run a Title Assessment, or should I hire an attorney to execute a Quiet Title action against the lender(s) in question?

    Jeffrey’s Answer

    The easiest, cheapest, fastest way to find out who owns your mortgage is to just look at your monthly mortgage payment invoice. If there's any uncertainty on that document, just call the number provided on it and ask them. Although the "conflicting information" you mention does introduce a question as what that conflicting information is and your answer to that may, indeed, make it necessary for you to consult a lawyer. However, you don't provide enough information to give you a conclusive recommendation on that.

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  • I have an attorney but want second opinion. is it difficult to refinance house on single person's part time salary?

    attorney and i are trying to get out of my ch13 bankruptcy since it's been 3 years. husband dies two months ago. i'm currently on a part time salary. i am on a 7 year mortgage which is coming up to an end in about 2 years, will i be a...

    Jeffrey’s Answer

    I believe your best "second opinion" will come not from another lawyer, but from a good mortgage broker. I see you're in San Francisco. I've had very good experiences with Rob Spinosa of RPM Mortgage at 1 (877) 270-5959.

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  • I am considering the purchase of a biz and they require an "earnest money deposit" - it seems this is a non-refundable in CA?

    is an earnest money deposit in CA refundable?

    Jeffrey’s Answer

    It's 100% negotiable. There is no CA law requiring it to be refundable or non-refundable. I strongly recommend you retain a lawyer to negotiate and document this transaction.

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  • Do I need a real estate attorney?

    Currently in contract and escrow on a property as the buyer and listing agent has gone ghost. Appraisal came in lower than agreed upon purchase price by 10k and sellers verbally agreed to lower price. When we sent addendum to move forward, our cal...

    Jeffrey’s Answer

    Based on your facts, it does not seem you have any legal basis to prevail on a damages claim. However, I agree with the answer provided by Mr. Driscoll; your best shot at getting the property at the reduced price is by trying to press the listing agent AND the seller through a demand letter sent by Federal Express. If you hire a lawyer to write that letter, it may help even more.

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  • If I have a manager running my llc. I own 55 percent of LLC. He makes the daily management decisions.

    The problem I am having is I use a office and the manager of our LLC(Parents) want to let my brother in law use it also. I refused to because I do not trust him. Can I refuse to let my brother in law use the office. Can I tell my brother in law h...

    Jeffrey’s Answer

    You write that your parents are the manager of your LLC but you own 55%. The answer, therefore, requires an experienced attorney to review your operating agreement. This should be a fairly quick consultation with a lawyer.

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  • Can I sue the seller for changing his mind on a short sale Propety after short sale lender approval?

    The short sale lender approved the short sale and I have spent money for appraisal , inspections and paid HOA dues which asked by escrow.

    Jeffrey’s Answer

    Depending on the written purchase agreement, buyers can generally sue sellers for breach of contract or for specific performance of that contract if seller refuses to perform. Consult with a real estate lawyer so you can have your contract reviewed and get more specific advice.

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  • If a person is a manager of a LLC can he give management rights to someone else without the agreement of the other members of

    LLC? What papers need to be signed for the manager to give management powers to someone else?

    Jeffrey’s Answer

    It depends what the operating agreement for the LLC says.

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