In 2009, Indiana passed the Transfer on Death Property Act, which gave Indiana real property owners the ability to designate (but not complete) the transfer of real property to a beneficiary upon the owner’s death without the need for the probate process. The owner retains absolute control of the property during his or her lifetime. […]
Our Virtual Law Office
Sometimes, you just need an Indiana legal form, without a lawyer’s help. IndianaVirtualLaw is the website name for the virtual law offices of Griffith Law Group LLC, an Indiana law firm. Through our Virtual Law Office, our law firm provides cost-effective and efficient, limited legal services pertaining to Indiana, Immigration, and federal Trademark Law. Limited […]
When Do Real Estate Investors Need a License [PART 2]
In Part 1 of this article, I wrote about Indiana’s licensing laws and described the circumstances when the law does and does not require you to hold a license. In this Part II, I will explain: The consequences of doing real estate transactions without a license in violation of Indiana law. A case law exception […]
When Do Real Estate Investors Need a License? [PART 1]
Many real estate investors, and I mean tens of thousands of investors, operate without a license. For many years now, at least in Indiana, there has been tension between the investment community and realtors (now called brokers). That tension increased years ago, as the market suffered through the “Great Recession,” and it was tough to […]
ATTENTION LANDLORDS: The Indianapolis Landlord Registration Program is here and it is mandatory!
ATTENTION LANDLORDS AND PROPERTY MANAGERS: There is a new law that went into effect January 1, 2015 in Marion County / Indianapolis: The Indianapolis Landlord Registration Program. Beginning January 1, 2015, all owners or landlords of residential rental units in Indianapolis must register their properties with the Indianapolis Department of Code Enforcement. Here are helpful […]
5 Things Every Real Estate Investor Should Do to Start 2015
This list is certainly not exhaustive, but it’s a good start for investors wanting to make more profits and reduce liability risks. In no particular order, below are five things you should do in December 2014, in order to make 2015 your best investor year ever. #1 Review Your Business Plan Don’t have a business […]
Regulators Suggest Land Contracts Are Not Subject to New Law
Introduction Over the past 30 days, there have been some changes to the SAFE Act in Indiana, giving rise to speculation that land contracts are no longer regulated under the new law. Specifically, Indiana removed the term “land contract” from a section of the Indiana Administrative Code. There have also been conversations between private lawyers […]
The Dangers of Land Contracts – Caveat Emptor
Land contracts remain popular among non-lawyer real estate educators and websites. Yet, in Indiana, the land contract remains a risky mechanism for a property owner to sell real estate. The primary risk is that the buyer can retain possession and control over the property, even after months of breaches and defaults under the land contract. […]
Foreclosing on a Land Contract
In Indiana, a seller ordinarily must foreclose on a land contract buyer, who has defaulted under the land contract. Generally, the seller cannot evict the buyer, or seek forfeiture. The distinction being made here is between the remedies of foreclosure versus forfeiture. This distinction looms large in Indiana. In 1973, the Indiana Supreme Court, in […]
Quitclaim Deeds vs. Warranty Deeds
There are essentially two types of deeds by which a property owner can transfer real estate in Indiana. A Quitclaim Deed transfers real estate to the new owner (the “transferee”), but the transfer is limited to the ownership interests actually held by the transferor. If the transferor holds no interests in the real estate, then […]