Tanowitz Law Office, P.C.

08/26/2023

If you own a small business, either alone or with partners, consider forming a limited liability company. With an LLC, your personal assets are protected from business creditors and from business-related lawsuits. At the same time, you maintain flexible management and are taxed only on your share of the profits. Consult a business formation attorney about the LLC option.

08/18/2023

The term "joint tenancy" refers to a legal arrangement in which two or more people own a property together, each with equal rights and obligations. Joint tenancies can be created by married and non-married couples, friends, relatives, and business associates.

Joint tenancy is a legal arrangement in which two or more people own a property together, each with equal rights and obligations.

08/18/2023

A business legal structure, also known as a business entity, is a government classification that regulates certain aspects of your business. Choosing the right business structure from the start is among the most crucial decisions you can make.

When starting a business, you need to set up the proper legal structure. Learn about your options and how to choose a structure.

07/24/2023

Deed vs. title: What’s the difference? Most people use these real estate terms interchangeably, but there’s a significant difference between the two—a distinction that’s important for owners and for buyers ready to purchase a home.

Deed vs. title: What's the difference? Most people use the terms interchangeably, but there's a significant discrepancy between the two.

07/12/2023

A lawyer who specializes in real estate can ensure the legality of a property transaction, review and explain the documents involved, resolve conflicts and, most importantly, keep you from making costly mistakes.

There are typically several attorneys involved in a residential real estate transaction. Here’s more on their roles.

07/11/2023

While inexpensive to set up, a general partnership potentially saddles the partners with big personal liability. As your business grows, consider a business structure that limits liability for owners, such as a limited partnership, limited liability company or corporation.

A general partnership is an unincorporated business with two or more owners. Each partner is liable for business debts and reports the profits on their taxes.

07/04/2023

Operating agreements and articles of incorporation work hand in hand to outline your business structure and define how your company will legally operate.

Learn the differences and similarities between articles of incorporation and operating agreements to determine which is necessary for your startup.

06/20/2023

With all of these documents, it pays to be meticulous. Missing a detail can result in rejected paperwork, sending you back to start over and delaying your approval. Getting sound legal and financial advice as you form your business is a wise investment.

By forming a limited liability company, you can protect your personal assets from business debts. The Ascent covers the documents you'll need to form an LLC.

05/09/2023

Adverse possession is a legal principle that allows someone to gain ownership of land owned by someone else if certain requirements are met. To avoid claims of adverse possession, property owners should know their property boundaries, regularly inspect the property and take steps to prevent any unauthorized use of it.

This legal principle entitles someone else to take over land that you own — but only if they meet a complex set of requirements.

05/09/2023

With a sound legal agreement between members, your LLC has the best chance of starting strong and staying that way through the inevitable seasons of life.

An operating agreement outlines how the business will be governed, financed, and managed. Learn why you need one and how to create one for your small business.

03/24/2023

There are some cases where a party is legally excused from performing its contractual obligations. This can happen when a contract becomes impossible to perform due to unforeseen circumstances. Other times, contracts can be rescinded in cases of fraud or misrepresentation. If an issue has arisen that might affect your ability to fulfill your duties under an agreement, it's a good idea to speak with an attorney who can explain your options.

03/18/2023

Franchises and licenses are both business agreements in which certain brand aspects are shared in exchange for a fee. While franchising and licensing have some similarities, they are two very different agreements that mean different things for both you and your brand.

In this franchising vs. licensing comparison, we’ll explain the differences between the two, as well as the pros and cons of each.