As a Real Estate attorney for my whole career, the latest mortgage/real estate crisis here in Michigan has been a real wake up call. I used to handle over 20 real estate transactions a year for my clients, both residential and commercial. This year it has been 3!
Like all of us in transition, I had to revise this area of my practice to focus on Landlord/Tenant law, Mortgage Company renegotiation / foreclosure help, and short sales.
This blog update will focus on these areas and give you some assistance in these hot areas.
For those people with real estate investment properties, the crisis has been magnified. There is no "flipping" properties in this market (buying houses and then reselling at a profit). Often clients will come to me in this situation. Of course, this is where the newly hot lease market comes into play. With no houses selling in Southeast Michigan, the one option is to lease. Finding tenants who may be downsizing or losing their primary residence is easier and with glorious free classified ad options such as www.craigslist.org, it doesn't take too much trouble to find tenants.
Of course, you are now a "involuntary landlord," with all the pitfalls that come along with that. Keeping good tenants, screening new tenants, getting rid of bad tenants are all part of the fun. But, its ultimately better than foreclosing on a house that cannot sell.
I will focus my next blog update on Short sales, deed in lieu of foreclosure, and other options if leasing is not for you.
In the mean time, feel free to contact me at www.kliszlaw.com or call me at (313)402-0853 for free real estate advice on any issue. Thanks for reading and don't forget to comment if you want more or different issues discussed on Michigan law.
Tuesday, December 16, 2008
Thursday, September 11, 2008
Collection Case Update
Well, its over. I was able to collect the entire amount of the judgment due my client, thanks to the help of the court officers. They picked up a classic car, auctioned it off, and we got paid in full, plus costs and interest.
Not that this happens every time, but this was quite a success story for this particular client.
If you have a collection case in SE Michigan, contact me at www.kliszlaw.com or call me locally at (313)402-0853 or toll free at (866)770-7782. Thanks for reading! Tim.
Not that this happens every time, but this was quite a success story for this particular client.
If you have a collection case in SE Michigan, contact me at www.kliszlaw.com or call me locally at (313)402-0853 or toll free at (866)770-7782. Thanks for reading! Tim.
Monday, April 28, 2008
Collection Cases in Michigan
I just finished a trial in the Livonia District Court on a business v. business collection matter, and thought I would provide some insight to small business owners on avoiding collections or at least doing them the right way.
I have been in the business of legal collection of debt, on both sides, for over 12 years. These are some tips for the business owner:
1) Always get the agreement/contract in writing.
2) See number 1.
Seriously, most people understand the idea that things must be "in writing" to be legal, which is not always the case. The trial I finished recently had no "written" contract, but we had lots of e-mails, phone messages and admissions from the Defendant that there was a contract, and what the terms were.
Maybe if we had the contract in writing, we wouldn't have had to go to trial, but it was a victory nevertheless.
A party who seeks to enforce a contract needs relevant evidence that there was a contract, what the terms were, and how it was breached by the other party and not themselves.
A solid written contract which clearly sets forth the terms and conditions is the best start. It is also important to think about collection of a debt before it is even due. This would be a provision in a contract which calls for interest in the event the debt becomes overdue, and most importantly for us attorneys: an attorney fee provision if the debt goes to court for enforcement. Because too often I represent parties which do not have an attorney fee provision, and they end up "eating" my fees as a cost of doing business, because generally speaking, Michigan law provides each side to pay their own attorney fees.
So, to be made whole on collecting a debt, it is best to protect yourself in advance with interest and attorney fee provisions.
If you have further questions or want more information about collections law in Michigan, visit my website at www.kliszlaw.com or call me toll free at (866)770-7782 or locally at (313)402-0853. -Tim
I have been in the business of legal collection of debt, on both sides, for over 12 years. These are some tips for the business owner:
1) Always get the agreement/contract in writing.
2) See number 1.
Seriously, most people understand the idea that things must be "in writing" to be legal, which is not always the case. The trial I finished recently had no "written" contract, but we had lots of e-mails, phone messages and admissions from the Defendant that there was a contract, and what the terms were.
Maybe if we had the contract in writing, we wouldn't have had to go to trial, but it was a victory nevertheless.
A party who seeks to enforce a contract needs relevant evidence that there was a contract, what the terms were, and how it was breached by the other party and not themselves.
A solid written contract which clearly sets forth the terms and conditions is the best start. It is also important to think about collection of a debt before it is even due. This would be a provision in a contract which calls for interest in the event the debt becomes overdue, and most importantly for us attorneys: an attorney fee provision if the debt goes to court for enforcement. Because too often I represent parties which do not have an attorney fee provision, and they end up "eating" my fees as a cost of doing business, because generally speaking, Michigan law provides each side to pay their own attorney fees.
So, to be made whole on collecting a debt, it is best to protect yourself in advance with interest and attorney fee provisions.
If you have further questions or want more information about collections law in Michigan, visit my website at www.kliszlaw.com or call me toll free at (866)770-7782 or locally at (313)402-0853. -Tim
Sunday, April 20, 2008
Welcome to my Blog on Michigan Law!
Hi- and welcome to my Michigan Law blog. As a practicing attorney in the Wayne County, Metro-Detroit area, I thought it would be useful to start a blog on things that matter to me and my current, future and former clients in the world of Michigan law. If you would like to contribute, comment, or ask me any questions, please contact me at my website at www.kliszlaw.com, e-mail me at tim@kliszlaw.com or call me toll free at (866)770-7782 or locally at (313)402-0853.
A little about me. I was born in Detroit, Michigan and grew up in the Metro area. I have worked for one law firm in Livonia, where I clerked from high school (Livonia Churchill), started a firm in Canton, Michigan with two other associates, and then opened my current firm, the Klisz Law Office, PLLC in 2007.
I have always prescribed to the idea that I want my clients to come to me as a "one stop shop" when it comes to their legal needs. Not that I am an expert in every area of law, but with a large network of referrals, plus a wide practice area, I am usually not stumped when it comes to helping out a former, current or potential client. So, remember the Klisz Law Office, PLLC, for all of your legal needs in Southern Michigan.
Thanks for checking out my blog, and feel free to offer suggestions, comments or any advice, because while I am not new to the practice of law in Michigan, I am new to the blog thing! Thanks, Tim.
A little about me. I was born in Detroit, Michigan and grew up in the Metro area. I have worked for one law firm in Livonia, where I clerked from high school (Livonia Churchill), started a firm in Canton, Michigan with two other associates, and then opened my current firm, the Klisz Law Office, PLLC in 2007.
I have always prescribed to the idea that I want my clients to come to me as a "one stop shop" when it comes to their legal needs. Not that I am an expert in every area of law, but with a large network of referrals, plus a wide practice area, I am usually not stumped when it comes to helping out a former, current or potential client. So, remember the Klisz Law Office, PLLC, for all of your legal needs in Southern Michigan.
Thanks for checking out my blog, and feel free to offer suggestions, comments or any advice, because while I am not new to the practice of law in Michigan, I am new to the blog thing! Thanks, Tim.
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