This situation can arise in a number of scenarios: -You’re driving to work one day and you’re hit by another driver who leaves the scene. -You’re out walking your dog one evening and you’re hit by a car that flees the scene. -You’re driving home from the grocery and another driver runs you off the road into a tree and leaves the scene. If you’ve been involved in an accident and the other driver fled the scene – rest assured that all hope is not lost. In South Carolina, a motor vehicle is considered uninsured if the owner or operator of the vehicle is unknown. You may still be able to recover damages from your own insurance company through…
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Commercial leases are usually written by the landlord (or the landlord’s attorney). Meaning, the terms of the lease are generally going to be landlord-favored. In many cases, one of the smartest business decisions you can make is to hire an attorney before you sign on the dotted line – to review, explain, and/or negotiate lease terms for you. Regardless of whether you choose to hire an attorney, there are a few common issues that you should look out for: Renewal Options (or lack thereof): You’ve just signed a 3 year lease and you’ve spent about $30,000 upfitting your space for your business. There is no renewal option in your lease. Fast forward 2 ½ years – your landlord is offering you the…
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3. MAKE SURE EVERYTHING IS IN WRITING (AND BE SPECIFIC!) Of course, this seems obvious, but you may be surprised how many details can often be left out of a contract and what problems that can create at and after closing. Remember – your lender and closing attorney have not necessarily been a party to or informed of all of the conversations or agreements between buyers and sellers that are often communicated via their realtors. For example: Renters? If there is a renter in a property you are buying/selling, the contract needs to spell out the terms of this transition. Is rent for the month of closing being prorated? How will the renter’s deposit be transferred from the seller to the…
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