If you are thinking about buying a business, make sure to conduct your due diligence and request a tax status letter from the Department of Revenue. A tax status letter will report any liabilities or outstanding tax issues for the business. It does not verify that the owner has reported correctly, but it will provide you with valuable information in assessing whether the purchase is right for you. Find out more information at: https://dor.wa.gov/doing-busine…/…/request-tax-status-letter or give us a call to assist.
Attending The East King County Legislative Coalition Breakfast On Behalf Of The Maple Valley Black Diamond Chamber Of Commerce
Buying or selling a property without a realtor can save you a great deal of money in real estate commissions. However, it is not for the faint of heart! Often times such transactions are best when a seller has already identified a buyer, the sale is between family members or parties with existing relationships, and there is a high degree of confidence by both parties that the transaction will be successful. While realtor commissions are only paid if the transaction closes, generally fees an attorney charges must be paid even if the deal does not go through.
There are various things that should be considered before embarking on a for sale by owner transaction. If you are a seller you must be sure you are pricing your home correctly, are prepared to market the property on your own, and can dedicate the necessary time to show the property to sometimes multiple potential buyers and their real estate agents. If you are a buyer, you must be sure the seller complies with their legal disclosure requirements, and you exercise all appropriate contingencies needed during the purchasing process. Both sellers and buyers should understand the negotiating process, how title and escrow work, and what to do if something unexpected comes up on the preliminary commitment for title insurance.
Our office can guide you through all of the steps involved in this process, can represent your interests in the transaction, and can assist in helping you to successfully navigate a purchase or sale without using a realtor. We can save you thousands of dollars in commission fees! If you have questions or would like to talk further please do not hesitate to contact us.
Beginning January 1, 2018, all Washington businesses are required to provide paid sick leave to employees. One hour of paid leave must be given for every forty hours an employee works. All employees are eligible for this benefit regardless of whether they are full time, part time or temporary workers. An employee is entitled to use leave after 90 days of employment, and can use leave for preventative care, illness, treatment, to care for a family member, or when the business or employee's child's school or place of care has been closed for any health related issue. The new law can be found at RCW 49.46.210. As a business owner you should be sure to update your leave policies to reflect the new rules. If you have questions or need assistance in doing so please give us a call.
Proud and humbled to accept the award for Business of the Year from Maple Valley Black Diamond Chamber of Commerce at last night's business gala. Thank you to our wonderful team past and present, all our fellow business owners, community members, and colleagues. We are honored to be this year's recipient, and look forward to serving along side all of you in years to come.
Some National Title Companies have received recent underwriting instructions limiting involvement in real property transactions involving marijuana. Specifically, if the companies receive any notice that specific real property will be used to grow, produce or distribute marijuana they may not 1) handle escrow or 2) issue coverage for zoning. All title policies issued must include an exception indicating that the use of the land may violate federal law. Practically speaking this means that escrow for such transactions must be handled through legal counsel or other means, and the risk to buyers in purchasing such properties is very much increased.
A new law recently passed which gives law enforcement the authority to remove squatters from real property without a court order. Previously, if a property owner became aware that their home had been taken over by a squatter without permission, the only recourse available was to file an eviction lawsuit. This new law will protect property owners by allowing officers to remove squatters without court intervention. If a property owner signs a statement under oath declaring that (i) the squatter is and has not been a tenant for the past twelve months, (ii) has not had permission to enter or living in the property, (iii)has ignored a demand to vacate the property, and (iv) attests to the fact that the property was not abandoned when the squatter entered, a law enforcement officer may remove the squatter from the property. The property owner must also agree to indemnify law enforcement in the event the squatter's removal is adjudged to be improper. The squatter does have the opportunity to present evidence to the officer which they believe gives them authority to remain in the property.
This new law should be helpful in preventing property owners from having to expend significant funds on eviction and other legal action to remove squatters. The law should not be used to resolve disputes between landlords and tenants. If you have questions or would like to discuss this further, please feel free to contact our office.
Cedar River Law Is Proud To Be A Finalist For Best Law Firm In Covington Maple Valley And Black Diamond
Recently a new statute was passed that allows businesses to convert from one legal entity to another. This process can be helpful if you have formed an entity and realize that you might be better served with a different entity structure. It can also allow entities domiciled in other states the opportunity to convert to a Washington entity without time consuming and expensive mergers or dissolutions. In order to compete a conversion, the principals of the entity must meet and agree upon a plan of conversion. Meeting minutes should be prepared and maintained. A Conversion Cover Sheet must be completed and filed, and Articles of Conversion following the requirements of RCW 25.15.436 must be prepared and submitted. The new formation document for the entity should also be filed. Before beginning a conversion, a business owner should consult with their accountant and lawyer. If our office can help, please give us a call.