Bob Miles - Articles

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The Incredible Legal Liability Of Real Estate Brokers
One of the disadvantages of seeking a career as a real estate broker is that your chances of getting sued are quite high, due to the various forms of legal liability to which you will be exposed. Among these are: (1) Contract Liability The listing agreement between a real estate broker and... Read
By: Bob Miles | 20/05/2007 | Real Estate
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Real Estate Brokers And Commissions
A real estate broker is usually engaged by the seller of a particular parcel of real estate to find a buyer. The agreement between the broker and the seller is known as a "listing agreement". Although the terms of listing agreements may vary, its terms usually entitle the broker to... Read
By: Bob Miles | 20/05/2007 | Real Estate
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What Do Real Estate Brokers Do?
A real estate broker performs a variety of functions to facilitate the consummation of a real estate sales transaction between a buyer and a seller. A real estate broker usually works for the seller, not the buyer. Perhaps the most important among her functions is to locate a potential buyer... Read
By: Bob Miles | 20/05/2007 | Real Estate
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The Law Of Time Sharing Arrangements
You can divide almost any type of property into a time-share (a type of fractional ownership). Most popular among these, of course, is the condominium time-share arrangement. Private jets are also sold as time-shares (betcha didn't know that!). What that means, just in case you didn't already know, is that... Read
By: Bob Miles | 18/05/2007 | Law
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The Law Of Condominium Ownership
When you buy a condominium, what are you actually getting? In a typical condominium arrangements, each "tenant" owns his/her individual unit outright and owns the common areas as a "tenant in common" together with the other tenants. Since you have ownership rather than mere leasehold rights, you can sell your... Read
By: Bob Miles | 18/05/2007 | Law
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Community Property Law
Community property law is normally applicable only to two people who are legally married, although it is sometimes applied to couples who have lived together for a long time. Some states have not yet enacted community property laws, and the law varies considerably among the states that have enacted them.... Read
By: Bob Miles | 18/05/2007 | Law
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Efficient Breach - When You Should Breach Your Contract, And Why The Law Is Designed To Encourage Certain Kinds Of Breach
Breaching a contract is bad, bad, bad...isn't it? Well, not always, at least not in the eyes of the law. The purpose of contract law is not to spank naughty promise-breakers, but to increase economic efficiency. Suppose, for example, that you own some real estate. Buyer 1 wants to live in... Read
By: Bob Miles | 17/05/2007 | Law
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Contract Law Made Simple: Why Consequential Damages Are Dangerous And How To Avoid The Danger
For the sale of goods, the Uniform Commercial Code defines consequential damages as follows: "Consequential damages resulting from the seller's breach include (a) any loss resulting from general or particular requirements and needs of which the seller at the time of contracting had reason to know and which could not reasonably be... Read
By: Bob Miles | 17/05/2007 | Law
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Legalese Explained: Obligations Of A Lease Assignment And "Covenants Running With The Land"
If you are a tenant and you assign your house lease to somebody else (a "third party"), your assignment of your lease contract does not relieve you of your obligations to the original landlord. If, for example, you assign your lease to Ralph and Ralph doesn't pay the rent, the... Read
By: Bob Miles | 17/05/2007 | Law
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Legalese Explained: What Is A Sublease?
What is a sublease? Generally speaking, if the original tenant transfers all of his rights under his lease contract to somebody else (a "third party"), it's an "assignment", but if he transfers something less, it's a sublease. Note that it doesn't matter what you call it; a sublease is still... Read
By: Bob Miles | 17/05/2007 | Law