The Firm’s real estate department is Chaired by David C. Tassell, Esq. David also serves as President of our affiliated title and real estate companies, Counselors Title, LLC. and Counselors Realty, LLC. In addition to representing purchasers and sellers in residential and commercial real estate transactions (from negotiating the initial contract through closing) and issuing title insurance, our real estate practice includes drafting and reviewing residential and commercial leases, representing homeowner associations, drafting homeowner and condominium association documents, drafting easements , and the handling of real estate controversies and litigation. Members of the Firm are also routinely involved with issues concerning real estate development, real estate brokerage, the syndication of real estate investments, zoning issues and changes, and the organization of limited liability entities and joint ventures between developers, owners, and investors. The Firm is also often called upon to address homestead and property tax assessment issues.
When structuring business entities to own real property, there is often a focus on state and federal tax considerations. Our staff of tax and other attorneys, certified public accountants, and tax accountants offer a team that can be used to optimize the tax benefits of real property ownership. Passive loss rules, depreciation and accelerated cost recovery, at-risk and basis issues, state documentary tax and recording cost issues, and homestead qualification are some of the areas of state and federal tax that should be considered in the acquisition and ownership of real property. The Firm is unique in being able to offer a team of lawyers, accountants, and tax professionals that are capable of addressing and integrating these, as well as other, areas of law, tax, and accounting associated with the acquisition, ownership, and sale of real property.
Real property ownership is also impacted by municipal codes and laws, and homeowner or condominium association rules and regulations. Members of the Firm have organized homeowner and condominium associations and routinely deal with interpretation of governing documentation. We are also often involved with architects and land planners at the early stages of development, while addressing start-up, zoning, and various related real property issues.
Real property valuation can affect local property tax, the taxation of real property transfers, and acquisition financing. Members of the Firm have real property and valuation experience and often work with appraisers in an effort to obtain preferred valuations. Our staff of lawyers, certified public, and tax accountants often assist in presentations to banks, mortgage lenders, and appraisers in order to advocate preferred valuations in our effort to serve our clients’ best interests.