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Compensation and Compliance Matters: Did the CFPB Really Just Say That?
This content has been archived. It may no longer be relevantThe Consumer Financial Protection Bureau recently issued a report showing that nearly half of all borrowers did not comparison shop in connection with obtaining a mortgage. This conclusion somewhat undermines the premise that the financial crisis was wholly caused by unscrupulous lenders. Moreover, many of…
The Weekly Scenario: Transferring a Personal Residence to a Revocable Trust
Question: I understand that an important reason to establish a revocable trust as part of one’s estate plan is to avoid the costs and delays of probate. Of course, to avoid the imposition of probate at death, it is critical that the legal title to real property is transferred to the revocable trust during my…
Three Reasons Why a Real Estate Title Could Be Defective
After months of searching and negotiating, you’re finally ready to buy real property, whether it be a house, commercial building, or some land. All that’s left to do is sign some papers, pay the seller and the property is yours, right? Not necessarily. If you are not careful, you may wind up with a defective…
4 tips for a smoother HOA budget process
Yes, it’s that time of year again for HOAs. No, not the holidays, it’s budget season! Most HOAs use the calendar year as their fiscal year, and now is the time of year many boards of directors are formulating their budgets for next year. Here are tips for making the budget and next year’s finances…
Inside Offit Kurman’s Legal Services in Philadelphia, PA
Philadelphia, PA is the cradle of law in the United States. Besides its role as the birthplace of both the Declaration of Independence and the Constitution, Pennsylvania’s landmark city has played host to centuries of lawyers, judges, and politicians who have shaped our nation’s history. These days that storied tradition continues on in the legal…
Read|Delete: Happy Martin Luther King Day
Martin Luther King Jr.’s birth name was Michael, not Martin. The civil rights leader was born Michael King Jr. on January 15, 1929. In 1934, however, his father, a pastor at Atlanta’s Ebenezer Baptist Church, traveled to Germany and became inspired by the Protestant Reformation leader Martin Luther. As a result, King Sr. changed his…
Reasons Why You Should Consider Leaving Your Children’s Inheritance in Trust for Their Benefit
On the popular television comedy, Modern Family, Claire and Phil Dunphy have two daughters, Haley and Alex, and a son, Luke, Like most families, each child is different. Haley is a typical teenager and has never been the world’s greatest student. Upon learning that a college had accepted her for admission, Haley remarked that she…
Friday Factoid: European Court Confirms Shape of Rubik’s Cube May Remain A Registered Mark
The shape of a product may be registered as a trademark, but not if such shape serves a functional purpose. A European Union court recently ruled that the unique design of a Rubik’s Cube can remain registered a trademark, rejecting the claim that the cube’s design suggests rotating parts (which presumably serve a functional purpose…
The Weekly Scenario: Dealing with the “No-Contest” Clause
Question: I believe my mother changed her Will shortly before her death as a result of influence my brother exerted over her in a time that she was frail and unable to resist his directions. My mother’s Will contains a ‘no-contest’ clause. If I bring an action for fraud or undue influence against my brother,…
Compensation and Compliance Matters: How Buying Leads Could Infringe on RESPA
Lenders should exercise caution when purchasing leads to ensure that they are not actually paying for referrals as prohibited by the Real Estate Settlement Procedures Act. The purchase of leads is an acceptable practice so long as the leads do not constitute referrals. The Department of Housing and Urban Development permitted lenders to purchase lists…
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