Title: September 12, 2007
Q. Other than forfeiting an earnest money deposit, is there a penalty for canceling a real estate purchase contract?
A. It depends on the contract. If the purchase contract was accepted by the seller, escrow was opened, the seller may file a lawsuit for specific performance, specially if the real estate market is in a downward mode and the seller would lose money by having to put the property back on the market and sell it at a reduced price. Time is often of essence in a real estate sale and obviously a lot of time, and profits can be lost when the seller loses several months in paying a mortgage on real estate that did not sell quickly. The penalty would be attorney’s fees in defending a lawsuit for specific performance, not to mention the Court can force you to buy the property if you lose the suit.
Q. Can I remove myself from a mortgage that I had with my mother when she bought her house? I now want to buy my own house, but I cannot qualify because I am still on the hook for the mortgage on my mother’s house.
A. You cannot remove yourself from a mortgage unless the mortgage holder consents or the mortgage is paid off. Typically, this scenario occurs in a marriage that ends up in divorce. But since this is a deal you made with your mother, you cannot “divorce” her. I would approach the subject with your mother and see if she is in a position to refinance her house without your financial backing.
Q. I rented a house with an agreement to rent to own. There are numerous problems with this house. The roof was leaking. I got it fixed. The toilet in the basement was leaking. I got it fixed. The support beams are all crooked, and major repairs need to be done. I had this house appraised, and it is worth $50,000 less than what the owner is asking for it. I have got to get out of this “rent to own” agreement. Can I?
A. It really depends on the terms of the contract you entered into. You may have to let go of the equity you built in the house. However, you may be entitled to recover the cost of the repairs and improvements you made to the house, however you need to document the costs of the repairs and improvements.
Maxine de Villefranche is an attorney and civil general practitioner with 14 years of experience. She practices law from her Tehachapi office as well as her Lancaster satellite office. She will answer legal questions posed to her by the readers to the best of her abilities. Email your questions to maxinedev@msn.com or fax to (661) 825-8880
Showing posts with label agreement. Show all posts
Showing posts with label agreement. Show all posts
Tuesday, March 24, 2009
Monday, March 23, 2009
Legal Eaze #55 Overtime/Loan Payments/Visitation Modification
Title: September 27, 2006
Q. I am the manager of a restaurant and am a salaried employee. I very often work more than 40 hours a week, yet I do not get paid overtime. Shouldn’t I get overtime pay for the extra hours over 40 hours a week?
A. Not every worker is entitled to overtime pay. There are a few select professions that are not required to pay overtime. Generally speaking however, most hourly employees who are not either independent contractors or professionals requiring advanced degrees are covered by overtime laws. Overtime laws usually do not cover executives who supervise the work of others. Nor do they cover certain administrative employees who do “non-manual” work related to either management policies or general operations of the business. Such “executive” or “administrative” employees must also be paid a set minimum weekly salary in order to be exempt from overtime requirements (versus employees that are paid by the hour). I believe that you fall in the executive or administrator category.
Q. I got involved in online payday loans and got in over my head in hard financial times. One of the loans I obtained required that I pay the loan in full. I informed the company I could not pay in full but offered to make payments until fully paid. The manager refused the partial payments stating the loan needs to be paid in full, otherwise they will garnish my wages. Can they do this despite my offer to make payments?
A. Unfortunately, the agreement that you signed will dictate the company’s collection rights and/or your obligations to repay the loan as you promised in the written agreement, if this agreement is legally enforceable. You should have an attorney review the agreement you entered into to advise you of your rights, if any, under this agreement.
Q. My son travels to Florida every summer for his visitation with his father. He spent 3 weeks there and came back extremely sick. 2 days after he came back, he was hospitalized in the ICU. He turned out to be diabetic and his father explained away our son’s extreme weight loss by stating he was overactive with sports. Does he have to go next summer?
A. You need to file an Order to Show Cause for modification with the Court that ordered the summer visitation with his father. The Court needs to be made aware that your son’s health is being overlooked by his father and that the boy almost died the last time he went to visit his father. This is a very serious concern and the Court may very well change the visitation schedule.
Maxine de Villefranche is an attorney and civil general practitioner with 14 years of experience. She practices law from her Tehachapi office as well as her Lancaster satellite office. She will answer legal questions posed to her by the readers to the best of her abilities. Email your questions to maxinedev@msn.com or fax to (661)825-8880
Q. I am the manager of a restaurant and am a salaried employee. I very often work more than 40 hours a week, yet I do not get paid overtime. Shouldn’t I get overtime pay for the extra hours over 40 hours a week?
A. Not every worker is entitled to overtime pay. There are a few select professions that are not required to pay overtime. Generally speaking however, most hourly employees who are not either independent contractors or professionals requiring advanced degrees are covered by overtime laws. Overtime laws usually do not cover executives who supervise the work of others. Nor do they cover certain administrative employees who do “non-manual” work related to either management policies or general operations of the business. Such “executive” or “administrative” employees must also be paid a set minimum weekly salary in order to be exempt from overtime requirements (versus employees that are paid by the hour). I believe that you fall in the executive or administrator category.
Q. I got involved in online payday loans and got in over my head in hard financial times. One of the loans I obtained required that I pay the loan in full. I informed the company I could not pay in full but offered to make payments until fully paid. The manager refused the partial payments stating the loan needs to be paid in full, otherwise they will garnish my wages. Can they do this despite my offer to make payments?
A. Unfortunately, the agreement that you signed will dictate the company’s collection rights and/or your obligations to repay the loan as you promised in the written agreement, if this agreement is legally enforceable. You should have an attorney review the agreement you entered into to advise you of your rights, if any, under this agreement.
Q. My son travels to Florida every summer for his visitation with his father. He spent 3 weeks there and came back extremely sick. 2 days after he came back, he was hospitalized in the ICU. He turned out to be diabetic and his father explained away our son’s extreme weight loss by stating he was overactive with sports. Does he have to go next summer?
A. You need to file an Order to Show Cause for modification with the Court that ordered the summer visitation with his father. The Court needs to be made aware that your son’s health is being overlooked by his father and that the boy almost died the last time he went to visit his father. This is a very serious concern and the Court may very well change the visitation schedule.
Maxine de Villefranche is an attorney and civil general practitioner with 14 years of experience. She practices law from her Tehachapi office as well as her Lancaster satellite office. She will answer legal questions posed to her by the readers to the best of her abilities. Email your questions to maxinedev@msn.com or fax to (661)825-8880
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