Legal FAQs

SECTION 12-54-124. Transfer of business assets; tax liens; suspension of business license; certificate of compliance. In the case of the transfer of a majority of the assets of a business, other than cash, whether through sale, gift, devise, inheritance, liquidation, distribution, merger, consolidation, corporate reorganization, lease or otherwise, any tax generated by the business which… Continue Reading LLC Income Property Seller, Why Closing Attorney Asks Majority of Business Assets?

11. Earnest money 10. TIE = Compensation, Property Management, Disclosure 9. MLS 8. Agency 7. Advertising 6. Ethics/Arbitration/Mediation aka Professional Standards aka Professionalism 5. License law 4. Due diligence 3. Other (e.g., scams, safety, professionalism, death, closing issues, breach) 2. Forms 1. State law Posted by: Byron King on 08/14/23 (This information is only accurate… Continue Reading Top Ten Hotlines July 2023 +1

SECTION 27-31-190. Expenses shall be shared. The co-owners of the apartments are bound to contribute pro rata in the percentages computed according to Section 27-31-60 toward the expenses of administration and of maintenance and repair of the general common elements and, in the proper case, of the limited common elements of the property and toward… Continue Reading Why Condo Closing Attorneys Want a Certificate of Assessment, Estoppel Document, Etc. with Fees Owed to Owners Association

SCR310 requires payment of United States of America Dollars as Good Funds. So, buyers who want to use cryptocurrency can convert their cryptocurrency into U.S. Dollars pre-offer (best to handle any anticipated and unanticipated delays in converting cryptocurrency to U.S. Dollars as well as any cryptocurrency depreciation) or during the due diligence period. Sellers who… Continue Reading Crytocurrency and SCR Standard Form (SCR310 Contract)

https://www.nar.realtor/videos/window-to-the-law/cryptocurrency-best-practices Posted by: Byron King on 08/14/23 (This information is only accurate as of 08/14/23. You must contact SCR for updates and changes to this information after 08/14/23 as laws and regulations may change over time. SCR 803-772-5206 or email info at screaltors.org or email byron at screaltors.org) This information is not legal advice. This… Continue Reading NAR Legal on Cryptocurrency

Some risk management for death that occurred in a listed property: Some buyers will not care about the death. Some buyers will care about the death and might walk even last minute before closing upon learning about the death, and the buyers will eventually learn about the death (e.g., the neighbors tell, the death is… Continue Reading Death in a Listing – Past, Present

A listing agent who gets an email "out of the blue" from a geographically distant owner claiming to want to sell has some risk management strategies. 1. Be suspicious when you get a listing falling into your lap without the distant owner explaining how they contacted the REALTOR® (e.g., "Hey, my friend and neighbor sold… Continue Reading Vacant Land Sales Scams – Risk Management

https://www.wsj.com/articles/celebrity-houses-famous-homes-6ba91102?mod=hp_featst_pos5 Posted by: Byron King on 08/07/23 (This information is only accurate as of 08/07/23. You must contact SCR for updates and changes to this information after 08/07/23 as laws and regulations may change over time. SCR 803-772-5206 or email info at screaltors.org or email byron at screaltors.org) This information is not legal advice. This… Continue Reading Brady Bunch House Set to Sell, Big Chill House, Etc.

https://www.kxan.com/news/local/austin/court-rules-austin-short-term-rental-ban-unconstitutional/ Posted by: Byron King on 08/07/23 (This information is only accurate as of 08/07/23. You must contact SCR for updates and changes to this information after 08/07/23 as laws and regulations may change over time. SCR 803-772-5206 or email info at screaltors.org or email byron at screaltors.org) This information is not legal advice. This… Continue Reading Fed Ct Strikes Austin TX STR Ban

https://www.wbtw.com/news/grand-strand/horry-county/naked-man-making-facetime-calls-to-grand-strand-realtors-horry-county-police-report-says/ Posted by: Byron King on 08/07/23 (This information is only accurate as of 08/07/23. You must contact SCR for updates and changes to this information after 08/07/23 as laws and regulations may change over time. SCR 803-772-5206 or email info at screaltors.org or email byron at screaltors.org) This information is not legal advice. This… Continue Reading Safety Alert: Naked Man on Facetime