This is an important update on the ongoing legal battle surrounding the Corporate Transparency Act (“CTA”) and the previously issued nationwide injunction that temporarily halted the requirement for companies to file the Beneficial Ownership Information (“BOI”) report with the Financial Crimes Enforcement Network (“FinCEN”). As of February 18, 2025, this nationwide injunction has been lifted, and the requirement for companies …
Starting January 1, 2024, the Corporate Transparency Act (“CTA”) requires that corporations, LLCs, or other state-registered entities disclose the individuals with ownership or controlling interests in the business. As the reporting deadline rapidly approaches, it is crucial for businesses to take action to ensure compliance and to avoid penalties. Determining what is required of your business and what reporting deadline …
Escrow Agreements are commonly seen in real estate transactions, although they should be used as a last resort. Escrow agreements are generally utilized when there were outstanding PICRA items that could not be repaired/fixed/replaced prior to closing or when there were walk-through items that could not be repaired/fixed/replaced before closing. Essentially, an escrow agreement is an agreement signed by both …
If you are considering or are in the process of purchasing or selling a home and you know you will not be able to be physically present at the closing table, then you have a couple of options.
Real Estate has some terminology that may throw you off if you are a first time homebuyer. Below sets forth some common terms used in Real Estate Transactions and what each means in lay terms. ALTA- Stands for American Land Title Association, the national trade association for the title insurance industry. ALTA member companies include businesses that conduct your closing and …
The answer is likely yes. You are married. In Virginia, there is a rebuttable presumption that marriages are valid. In fact, it has been said that the presumption of the validity of a marriage is the strongest presumption known to the law. Therefore, naturally, the burden of proof falls upon the party challenging the validity of the marriage to prove …
VIRGINIA BEACH, VA. Feb. 1. 2023 /PRNewswire/ — Lindsay M. Barton promoted to Partner at Hanger Law, becoming the first female attorney promoted to Partner. Hanger Law is proud to announce the promotion of Lindsay M. Barton to partner. Ms. Barton has been a valuable member of the firm for over 3 years and has demonstrated exceptional legal skills, client service, and commitment …
It is always our goal to get to the closing table as seamlessly as possible; however, there are some things that can go on in the background that may be overlooked but that are very important to the process.
PICRA stands for Property Inspection Contingency Removal Addendum and it is something that comes up in a lot of Residential Real Estate deals.
Private Mortgage Insurance (PMI) protects lenders against borrower’s potential default (if you stop making payments on your loan). PMI is usually applied when your down payment is less than 20%.