Posts Tagged ‘Property’

Recreation and Real Property Liability

Thursday, June 10th, 2010

Recreational Access on Private Land.

Landowners should consult an experienced Real Estate Attorney before they consider opening their property up to third-party recreationists. As a lawyer with an appetite for high risk recreation, I also want to ignore the liability risks associated with lending out or charging others to come on land and play.

An issue landowners should consider prior to charging people to use their property is inadvertently exposing themselves to potential liability. There is a significant risk associated with potential injuries when people recreate in open spaces, especially when activities include water, trees, Dirt Bikes, Electric or Powered Skateboards, ATVs, etc.Generally, most states provide that landowners owe a duty to protect people that enter upon their property. The scope of the duty can vary depending on: the reason the person is entering on the property. The highest level of duty comes when a landowner charges people for entry to the property, however, this doesn’t mean that if you don’t charge you are off the duty hook! Some states, require a landowner to inspect the property periodically and repair any dangerous conditions that exist. Landowners must warn visitors of any potential hazards.

For natural spaces such as beach adjacent, mountain, lake and forest properties this is of prime concern because nature is unpredictable and
can easily kill and mutilate your guests. So, landowners who open their properties up to the public or even a few guests should consider how to protect themselves and their families from a financially devastating lawsuit.

Here are some strategies for implementation:

1. Liability Waiver forms. If you know regular persons are coming into your open spaces to enjoy nature and recreation on your property. You can give them waiver forms to sign if they wish to continue enjoying your property. Even if some of the provisions in these contracts may not hold up in court they at least may serve to deter a lawsuit.

2. Install signs regarding their assumption of their own risks at all access points to the property. WARNING, DANGER! Make sure these signs are also printed in common languages of visitors. Any way you can put visitors on notice will help you with liability issues later.

3. INSURANCE. Call your insurance agent today, sit down and read your policy to make sure it is sufficient to protect you. Think about any changes in conditions that have taken place since you signed that policy. Is your coverage adequate? Does the policy specifically cover the activity you most often see taking place on or near your property? Does the policy just look like a long document outlining all the ways your insurance company can get out of paying for damages or defending you in court?

Real Estate Investment – Profiting from Overseas Property Investment

Friday, April 16th, 2010

Smart investors know that overseas property investments can yield 25-100 % returns if properly managed. One intelligent measurement to lower risks is to lock in the the value of the investment property with the help of third parties so that if the value goes down you will be able to sell the property to them and not loose a penny.

An example would be buying a international property, if you pay 80K and the market value falls to 50K, having locked it’s value through a third party you can still sell it for the original 80K, now if on the other hand the property appraises at a value much higher than what it was originally purchased for, all you loose is a small lock in payment but made a substantial profit.

This is a different way of investing compared to other markets, as you may be able to deduct the advantage is that you are able to lock in “the risk” at a set level in exchange for a small payment which represents the maximum loss you are willing to take. This way overseas property investors have a high leverage when investing in foreign real estate.

The best way to invest in foreign real estate listings is to select an established or “currently in development” market, as well as making sure that the laws in such places are favorable to foreign investors. Good investment markets which fulfill these conditions are Dubai and Cyprus.

Cyprus property can be obtained after completing a “permission to purchase” application with the Council of Ministers. This is a step every foreign investor must complete, in order to purchase property in Cyprus which is not very restrictive. An investor can purchase up to four thousand square meters of land and an additional house or apartment.

Similarly, buying Dubai property offers many advantages due to the fact that real estate prices keep increasing because of the high demand these properties have. The demand increased radically back in 2002 when the crown Prince made an announcement which allowed foreign investors to purchase property. Due to local tax and business advantages this particular market blossomed and it’s now a great place to develop any business idea.

Real estate investments in foreign countries offer great ROI “if and only if” the investor verifies local laws pertaining to properties and business.

Always remember to diversify your investments, even if you are investing in a relatively stable market.