Non-Refundable Purchase Deposits vs. Liquidated Damages Which Is Better? By-Dale Alberstone

Hello everybody.  My topic this month discusses problems with the legality of a “non-refundable” deposit provision in a real estate purchase contract, and presents possible alternatives. The Problem with Non-Refundable Deposits Often, the seller of real property wants the buyer’s deposit to be non-refundable meaning that if the buyer defaults under the contract or wrongfully…

Lease Options: Elements and Pitfalls By-Dale Alberstone

Hello everybody.  Let’s start with a multiple choice pop quiz about options:  Assume that a landlord gives his tenant an option to extend the term of their lease by five years provided that the tenant exercises the option in writing on or before Sunday, July 4, 2021, i.e., Independence Day next year. If the tenant…