Should I Make a Spanish Will?

None of us likes to think about making a will, it reminds us that one day the inevitable will happen and we will no longer be here. However, consider for a moment all the time and effort you put into providing financial security for yourself and your family, working hard, putting money into pensions and saving to buy that dream home abroad. Then when we have achieved our ambitions, we fail to take the next step in protecting our assets after we pass on.
It is imperative that we decide what should happen to our money and possessions after our death and ensuring that those people and causes that matter most to us are provided for. Making a valid will is the only way of guaranteeing that you take control now of what happens to your assets when you die.
There are thousands of British citizens who own properties in Spain. Many of them are elderly and yet they have made no provision as to what should happen to those assets on their death. Who will take over their assets in Spain, and how much inheritance tax will have to be paid. For these reasons, it is important that you arrange your affairs to make life easier for your heirs and the change of ownership of your assets.
You should be aware that this is only a general guide and cannot replace professional advice
What will happen if there is no will?
If a foreigner dies in Spain without a will, his estate may be automatically disposed of under Spanish law.
If you are British and own a property in Spain the laws of England and Wales state that, your property should be subject to the inheritance laws of Spain.
However, in Spain the law states that property owned by a foreigner should be subject to the inheritance laws of their original country. Confusing!
For a normal British family with property in Spain, where the asset will pass to the spouse and children, the situation is not complicated, but it does require answers to some questions
a. Do I have to make a will?
The answer is no, it is not obligatory to make a will. However, if a foreigner dies in Spain without a will, his assets will be distributed in accordance with Spanish law.
b. Will a will made abroad be accepted in Spain
Generally, a will, which is valid under the law of your home country, will be taken to be valid in Spain
Currently lawyers are advising British domiciled individuals with property in Spain to write a will under Spanish law stating that they wish to have their Spanish assets disposed of in accordance with their national law, i.e., in accordance with the inheritance rules of England and Wales. They also advise such individuals to update their British will to take into account their Spanish property.
If you have lived in Spain for a long time and you want to dispose of your assets according to the law of your home country, then it may be necessary for you to create a legal domicile in your home country for the purpose of making a will
c. Is it better to make a will in Spain?
If you own a property in Spain and you want to save your heirs a lot of time and expense then the answer has to be YES. A Spanish will for the distribution of your assets as per the inheritance laws of your home country will be accepted by a Spanish notary.
The time limit for making an inheritance tax declaration in Spain is six months from the death. If you are waiting for the probate from the home country to be issued, and then have to make the translation and get the "apostille" (can be used whenever a copy of an official document from another country is needed) before taking it to Spain, you may miss this time limit and be liable for fines.
With a will in Spain, you can to an extent regulate the distribution of the assets. For example, you can make sure that your spouse will have the undivided user's right for life, or that only one of the children takes over the property in Spain, the others having been compensated by assets in the home country.
You can also make an inheritance tax saving by making the right kind of will.
Different Types of Will
There are a number of different ways to make a will in Spain, here are the main ones:
Open Will ("Testamento abierto")
This is the most common form of will. Here you tell your lawyer or the notary the contents of your will. The notary then signs the official form together with the issuer. The notary will give you a copy of the will and send a copy to the Registrar in Madrid. The original remains at the notary's office. If you do not understand Spanish, you will need a translation into a language that you understand fluently. It is only mandatory to have two witnesses to the signing of a will if the notary or the issuer requests it
When the issuer dies and before adjudication can be made, a search must be made in the registry in Madrid to find if a will has been deposited there. Even if no will has been registered, written confirmation from the registry in Madrid is obligatory.
Closed Will ("Testamento cerrado")
The contents remain secret; however, it must be drawn up by a Spanish lawyer to ensure that it complies with the Spanish law. The issuer then places it in a closed envelope. He may then seal the envelope in front of the notary and at least two witnesses. The notary records it as for an open will. The issuer may keep the envelope himself, give it to a person in confidence for safekeeping or deposit it with the notary.
Hand-written will ("Testamento olografo")
Written and signed by the testator in such a way that there can be no doubting its authenticity, must also be dated. It must be drafted to ensure that your wishes are clear
The will is a private document, which becomes a public document after the death of the issuer. It can be kept safe or given in a sealed envelope to a person in confidence. It needs no witnesses, nor a confirmation from the notary. It can be voluntarily registered with registry of wills. On the death of the testator, it must be authenticated before a judge, which will delay its execution.
Whilst this form ensures complete confidentiality, it may easily be forgotten or lost. It should only be used in exceptional circumstances.
It is advisable to have your will drawn up by a Spanish lawyer in Spain. Keep a copy of your will in a safe place and another copy with your lawyer. The inheritance tax declaration and the payment of inheritance tax duties must be made within six months of your death if you die in Spain and sixteen months if you die elsewhere. Inheritance tax must be paid in advance of the release of the Spanish assets.
Pocomed Properties are not qualified to give legal or financial advice we would say that if you think you might be affected then you should seek qualified professional legal advice.

How to Buy Your First Home

Congratulations on deciding to buy a home! Because buying your first home can be complicated, we have written this article to guide you through the steps to home ownership. As well, we have included links to the major banks. Since every bank is slightly different, it is good to check them out and decide who you will want to handle your mortgage. We have supplied you with a Canadian Mortgage Calculator so you have an idea of what your payments will be. Current interest rates are listed on the banks' websites to help you make the most accurate calculations.
Banker or Mortgage Broker. What's the Difference?
Both of these agents are doing the same thing. The only difference is that while a banker only represents the bank that he works for, a mortgage broker approaches all the banks to find you the best mortgage for your particular needs. There is no cost to you for using their services, since they are paid by the banks that they deal with. If you have dealt with the same bank for many years and feel a certain amount of loyalty, go ahead and approach them first. Most banks have their own "broker", but these are not brokers in the true sense. Just remember that an actual mortgage broker doesn't work for any one particular bank.
Pre-approval. What's that?
When you begin your search for a house, you will need to know how much the bank is willing to lend you, based on your current income and expenses. The bank will want you to come and see them (and some will even come and see you!) with your financial information, and will put together this information for you. You are not committing yourself to anything at this point, and if you decide that you would like to find a mortgage elsewhere, there is nothing to stop you from doing so. This is just a guideline so that you will know in which price range you should shop for a house.
Choosing a Realtor
Many people, when buying their first home, choose as their realtor the agent who has the listing contract for the first house they are interested in. Be aware that when the realtor acts as both the seller's agent and the buyer's agent, the realtor will give precedence to the best interests of the seller. Since the realtor is paid a percentage of the selling price, they will probably not negotiate as hard for you as they will for the seller. One strategy that works well for most people is to try out several realtors, and when you find the one who you would like to have on your "team", ask them to help you with your search for your home. They should be happy to send you information and listings on houses that suit your criteria. You might also be interested in reading our article on How To Choose A Realtor.
Searching the Listings
You can easily search the listings in any area online. The website that contains all the Canadian MLS listings is realtor.ca. You can easily select your search criteria: price, location, number of bedrooms and bathrooms, and numerous other choices. Keep your ranges as broad as you can to view the most listings.
If you are viewing many, many houses, it is wise to take your camera with you. Your agent will give you a listing sheet of information about the house, but there are lots of details to take in, and after a while it's difficult to remember which features belong to which house. As a courtesy, check with your agent first if they are okay with you taking photos. If so, take pictures of the front of the house first, and then you will know that the subsequent photos belong to that property. If you have a video camera, that is also a good tool, especially if you add commentary as you go through the home. Be sure and take pictures of the "not-so-good" as well as the things you especially like.
Flooring, cabinetry, and appliances are important items to take note of, as well as things like parking and yard space. It's likely that if you fall in love on first sight, you will want to come back and see the house again, so if you have forgotten a few things, it's no problem. Many people walk into a house and the first thing that jumps out at them is the "stuff" that's in it. It's important to look at the actual house, and not the furnishings or furniture arrangements. Try to picture yourself in this home, and keep in mind that it's fairly simple to clean the windows, paint a room, or even have new flooring installed. However, you should factor in these costs when reviewing the price of the house. One thing that can be more difficult to take care of is odors. If you need to repaint the entire house, replace all the flooring, or worse yet, the sub-floor (due to pet nastiness), this could be a costly repair. Test things like water pressure, open and close doors and windows, look under the sinks for any plumbing leaks or other issues. Any repairs that need to be made may affect the move-in date, unless you think you can live in a renovation arena for some time!
Making An Offer
Okay, you found the right house for you and now comes the exciting part! When you are certain that you will be happy with your choice of house, location, price, size and condition of the house, it's time to make an offer. If you can, try to remove all the emotion from this part of the process. It's the step that most people find the most stressful and the scariest. In reality, your real estate agent is the one who will do most of the work, and all you need to decide is what is the most that you are willing to pay for this particular house. Once you have that figure in your mind, go ahead and try to negotiate a better deal.
Negotiating
If you want this house so badly that you are willing to pay top dollar, your first offer will be different than if you are slightly out of your price range and would like to see if you can get the buyer down to your affordability level. Don't worry about making an offer too low. If the seller is "offended" and refuses to come down in price, you can certainly make a counter offer. Most real estate deals are only reached after a few negotiations, until both parties are satisfied. Keep in mind that a few thousand dollars will not make a huge increase in your mortgage payments, and if you're nervous about increasing your offer, check out the mortgage payment calculations again. You'll probably see that there is nothing to worry about.
Price is not the only negotiating tool. If you can be flexible with your time frame, a seller may look more favourably on you if you allow them to choose the closing/possession date. For them, it may make a difference of a few weeks at a hotel, or paying two mortgages, or staying longer due to work or school schedules.
Subjects and Conditions
As your agent is writing up your offer, he (or she) will ask you which subjects and conditions you would like to have included. Conditions and subjects are a way of protecting yourself from being locked into a deal that you might need to reconsider. The following is a sample of the conditions and subjects that are most commonly attached to an offer:
This offer is subject to the buyer arranging necessary financing at current interest rates and at a lending institute of the buyer's choice, on or before______.
This offer is subject to the buyer being satisfied with a pre-purchase home inspection report on or before_______.
This offer is subject to the buyer's lawyer approving all documents by _________.
You may want to include these conditions as well:
All attached and unattached goods are to be in good working order at closing.
All attached and unattached goods as seen and photographed on ________.
Items you may want to have included with the house are things like appliances, window coverings, area rugs, freezers and other items that are not attached to the house. These items can be used a negotiating tools, so if you see something you want, don't be afraid to ask for it, and you can always make a concession to get a better price.
Important time considerations
You will need to leave enough time to make all the necessary arrangements prior to taking possession of the house. It's wise to leave at least three weeks for things like arranging a mortgage, getting a home inspection, and making an appointment with a lawyer or a notary public. Also keep in mind that sometimes negotiations take a little longer than you anticipate, and this will affect the amount of time you will need to make all these arrangements. Always make sure that the dates will work for you, and if a long weekend interrupts the process, you should build in some extra time. And since banks, lawyers, and other professionals are sometimes closed on weekends, consider those implications.
You will need to choose your possession date wisely as well. If you are currently renting, you will have to give proper notice to your landlord before you move, or you will risk having to pay rent as well as a mortgage. And finding friends to help you move on a long weekend can be daunting too.
Deposit
If your offer has been accepted, you will have to pay an amount of money as a show of good faith. This money will go towards the down payment at closing. Never give the money directly to the seller. Make sure that it goes into your realtor or lawyer's trust account.
Finding A Mortgage
When your offer has been accepted, you will have to make a decision regarding which bank or broker you will deal with. It is important to start this process as soon as possible, since you only have a limited amount of time and you may risk losing the deal. It is always possible to have dates extended, but should not be necessary. If you do find yourself running out of time, contact your realtor and explain that you will need to change the subject removal dates.
If you've decided to use a mortgage broker, give them a call. They will tell you which bank will has the best current rates. Make an appointment with your broker, and ask them what paperwork they will need you to bring along. Keeping organized at this point will make things a lot easier, so get yourself a notebook and write everything down: appointments, to-do lists, questions you may, and so on. Keep a file of important documents such as your offer to purchase, any financial information like pay stubs for the last three months, bank account information, credit card information, and a list of any assets you may have.
If you are intimidated by this part of the process, remember that a bank will only make money by lending money, and should be eager to have you as a customer. Don't be afraid to ask your broker to explain things in terminology you are familiar with. Some words and phrases are baby talk to him and he may forget that he speaks a different language than you do. The bank will want to have an appraisal done. Some banks will cover the cost, but only if you ask.
Down Payment
Your bank will require you to pay some money towards the purchase of the house. Banks require 20%, but if you are unable to come up with that sum of money, you may also qualify to pay less. In that case, the bank will go through an insurance company such as Genworth Financial or Canada Mortgage and Housing Corporation (CMHC). CMHC is a corporation owned by the Government of Canada who provides mortgage insurance to the banks. These insurance fees will be added to your mortgage payments.
Home Inspection
After you have received approval from the bank, you should schedule a home inspection. There is no point in paying for a home inspection unless you are certain that you will go ahead with the purchase if the inspection is favorable. When you are deciding on which home inspector to use, ask him about the things that he does not inspect. Not all inspectors cost the same, so call several to see what they charge. If you are concerned about the plumbing or wiring, you may also want to bring along a professional to have those items checked. There will usually be some things that the inspector will notice, and he should go over the report with you personally. Putting a dollar value on necessary repairs will help you to decide if you would like to re-negotiate the price with the seller.
Closing Day
You will have to have an appointment with your lawyer/notary on or before the closing date, so be sure to set aside some time for this.
Lawyer vs. Notary Public
This is strictly a matter of personal choice. It pays to shop around, since sometimes a notary will be a little cheaper. The only time you will need a lawyer is if a deal falls apart at the eleventh hour and there is a breach of contract.
House Insurance
The lawyer/notary may want proof that the house has been adequately insured, so you will need to arrange for this before closing day.
Just a few things will happen at this appointment. You will have to bring along the balance of the down payment and any fees and closing costs associated with the purchase. The lawyer/notary will phone you ahead of time to tell you how much to bring with you to this appointment. These fees include your lawyer/notary fees, disbursements, which are the amounts owing for property taxes, etc. and various other taxes such as property transfer taxes and sales taxes. The lawyer/notary will pay the seller. He will register the home in your name, and now you are a home owner! You will receive the title to your home in a few weeks, along with copies of all the documents and paperwork.

Condoning Fraud, Expanding Federal Government: The Interstate Recognition of Notarizations Act-2

So What Are Notarizations?
A Notary Public is a person granted the power by state law to accept sworn testimony and create a document that will become a public record. The creation of that document, though applying a notary "seal," is "notarization." States regulate this power, requiring notaries to take courses on their responsibilities. They also set forth a variety of requirements that must be met before a notarization can occur. I believe these (currently) include, at a minimum, the physical presence of the notary at the time of signature, and perhaps some verification that the person signing have read the document in question and have "personal" knowledge of the facts to which he or she is attesting. That verification, of course, is a pretty minimal thing, often a mere reference in the affidavit itself. The person signing the affidavit is under oath, although this is written by the notary (usually with a stamp) rather than "administered." It can be a pretty lax thing, and it is certainly not difficult to create a legitimate affidavit.
Lax, but Not Lax Enough
The requirements have apparently been too heavy for foreclosing institutions, though, as stories of people signing 8,000 affidavits per month are coming to light or signing affidavits far from the notary or on different days than the notary signed. Signing an affidavit without reading it, where you state in the affidavit that you have read it, is perjury. A notary notarizing a blank document is, in every jurisdiction of which I know, grounds for the dismissal of the notary. It may even be criminal. The foreclosing institutions have rendered the legal apparatus, designed to protect borrowers from illegal foreclosures, a mockery. And this is probably because they do not have the documents they need to foreclose legally and do not even know where to find them.
Right now the foreclosing institutions linked to these activities are under investigation by various state attorneys general and are possibly liable to the people they have foreclosed upon for hundreds of millions of dollars, perhaps billions. Some banks have suspended foreclosures pending various outcomes.
How Would The New Bill Affect These Foreclosures?
Because the bill requires "recognition" of a "lawful" notarization, it is apparently designed to be a "procedural" requirement. That may not sound like much to non-lawyers, but it is actually a big deal and one of the most suspicious aspects of the legislation. See, "procedural" laws are normally applied retroactively. The bill then may pave the way to whitewashing all these illegal affidavits retroactively, stealing the last rights of the banks' newly homeless victims.
It Would Probably Whitewash the Fraudulent Affidavits
It would appear that all these affidavits were not "lawful" notarizations at the time they were made, but what would happen if a state court in Delaware or North Dakota (to mention just two jurisdictions that go out of their ways to appease corporate interests) ruled that they were, in fact, lawful? Or what would happen if any state passed legislation that purported to authorize, retroactively, these affidavits? These answers are not clear to me, and I would suggest that they cannot be made sufficiently clear to justify the law. There is a high risk that the law would be applied retroactively to render these fraudulent affidavits effective.
And to be real for a minute, isn't that exactly what the purpose of the legislation clearly was?
And, what is clear is that under the legislation, if a state actually did that, it could export its policy to every other state in the Union, regardless of whether those states wanted it.

Owning a Piece of Paradise

The only thing better than visiting paradise, is owning a piece of it, and every year many of the visitors who step off planes in Bali leave thinking how fantastic it would be to own a property here. This trend is evidenced by the large number of real estate developers which has mushroomed up all over the island and the dizzying array of schemes now available to eager buyers. So where do you start and how do you go about buying a property? Well the first thing not to do is to rush it. I have met folks who expended significant effort getting the best deals on flights and hotels to ensure a cheap holiday only to head back home having bought a ridiculously priced timeshare from a sleek high-pressure marketing outfit and then afterward wonder aloud "what the hell have we done here?" It's amazing how many people fall for the "don't wait to buy real estate, buy real estate and wait." pitch line. But then which of us hasn't bought things on holiday that we regretted afterward, a dodgy shirt or outlandish shoes perhaps. However, those are generally a much easier souvenir to rationalize than an overpriced holiday home with dodgy paperwork.
The good news is that buying a piece of property or holiday home here can be a relatively smooth transaction and a good investment to boot. However, it is important not to assume that the real estate and legal system here is similar to home. It's not. That's why it is crucial to firstly familiarize yourself with your basic property rights as a foreigner under Indonesian Law by arranging a consultation with a Notaris, Lawyer or Legal Consultant who speaks your language. Lay out what you propose to do and have them give you step-by-step direction. A single consultation should be enough to get you off on the right track, take notes and have them verified to ensure that what you understood from the meeting to be correct. There is a lot of free information available on the web but the problem is identifying what is objective and current. The old adage holds very true at this stage of the process - If you think hiring a professional is expensive, wait until you hire an amateur.
Basically, there are four types of certified deeds of property ownership in Indonesia.
• Hak Milik (HM) - Right of ownership or Freehold, Certificate only in the name of an Indonesian entity - Valid indefinitely.
• Hak Guna Usaha (HGU) - Right to use for Agribusiness, Certificate only in the name of an Indonesian entity - valid for up to 35 years, extendable. Most commonly used by plantation owners and other commercial farming enterprises.
• Hak Pakai (HP) - Right to use, deed may be in the name of an Indonesian or foreigner domiciled in Indonesia - valid for 25 years, extendable.
• Hak Guna Bangunan (HGB) - Right to construct and
possess building on land not owned by HGB holder.
Certificate only in the name of an Indonesian entity - valid for 30 years, extendable.
You may conclude from the above that Hak Pakai title is the only legal deed of ownership that may be held privately in the name of a foreigner. However, many foreigners buy HM properties in the names of Indonesian citizens and then use Nominee agreements such as Power of Attorney, Loan Agreements, etc, to enable the Indonesian national to transfer all rights to the property over to the foreigner. The land law states clearly that HM title may not be transferred directly or indirectly to a foreign entity so should you have a dispute with your Nominee you would most likely lose your investment. Freehold title may be converted to HP so why risk everything when you can hold HP in your name. A Notaris who is PPAT licensed (registered to process land Titles) can handle the deed conversion at the Government Land Office. Extending a HP involves paying a small fee at Department of Lands just prior to expiry of initial period. Hak Pakai title is also accepted by most lending institutions as collateral for lending.
The government is in the process of revising laws on foreign ownership of land and though nothing has yet been signed into law it is widely expected that the current maximum single period will be extended significantly upwards from 25 years. There are wild claims being made by some real estate brokers and developers as to the inflationary effect this revision of the law will have on land prices, however one has to understand that in effect foreigners can already hold long term rights to land through HP extensions and consecutive leasehold contracts.
If you are not familiar with Bali or haven't had much exposure to the workings of Indonesia, then choosing a property offered by one of the big multinational real estate agents could be a good option. These companies at least carry out limited due diligence on the properties on their books and charge fixed fees for their services. They are also usually owned/managed by foreigners, though that doesn't mean that you can drop your guard, but at least it facilitates easier and better communication. There are a few such large companies in Bali who also have offices in other countries in the region. They generally charge fees of 5% to 10% of the purchase price which are payable by the seller.
Once you have identified some properties of interest get the "crocs" on and look at some similar properties for sale in close proximity being marketed by other agents or privately. Make sure you are comparing like with like and by doing this homework you are likely to observe how prices can vary dramatically within a small area. For example in Sanur, land on the Renon side of the bypass may cost less than half that on the beach side, literally just across the road. It's important to forget what "a property like this would cost back home" and ignore the claims of property agents who tell you Bali is the next Hawaii. Just focus more on how similar properties in that area or down the road compare.
Once you have chosen your property and agreed on the price you need to find a reputable Notary (Notaris), preferably one that speaks your language and that is independent of the property agent you are using. To verify ownership they should ask you to obtain the following from the owner:
• Land title (Akta),
• Identity card of the owner and owner's spouse if married,
• Proof of up-to-date payment of land tax.
The Land deed will include a site sketch showing the location, boundaries and the total area of the site. It would be wise to personally survey the location to ensure the property you were shown by the vendor matches that on the Deed. If the land does not open onto a public road, ask for proof of right of access and also submit that data to your Notaris for verification. Access can be a common problem in these types of transactions. In addition, have your Notaris verify that the land you are purchasing is zoned for your intended purpose e.g. residential or commercial. Discovering the land you bought for your dream home was in a Green Zone where all types of development are forbidden would be a bummer!
DO NOT transfer any funds until everything has been verified by your Notaris/ Legal advisor. A deposit may be required by the seller to hold the property while you arrange funding / payment and the Notaris drafts the purchase agreement. Final payment is usually made when final transaction agreements are signed at the Notaris office. The Notaris is legally obliged to collect 10% government tax from value of transaction at time of signing purchase agreements with the buyer being liable for 5% and seller for 5%.
Acquiring a long-term lease of land through contract is a more common option taken by many seeking to build their own place in Bali. A foreigner is currently allowed to lease land for a maximum of 25 years at a time, however this period can be in effect be extended through consecutive contracts. Real estate agents would have many leaseholds on their books. Valuation is usually quoted at a Rupiah value per Are (100 sqms) per Year. Though you may only plan to lease for 25 years you should also consider having your Notaris include renewal or extension options in the lease agreement. This gives you a potential asset to sell at the end of the initial lease period. Often the payment for the extension occurs years in advance of the end of the first lease term. The renewal rate (price per Are per year) used to calculate the lump sum amount payable is generally derived using one of three ways in Bali:
• Value is indexed to price of gold.
• Value is indexed to price of rice.
• Value is based on the then prevailing market rates for similar leaseholds as determined by a professional valuer.
A simplified example of how this might work in the case of gold would be - Lets assume the price per Are per year at time of the contract for the initial lease term is 10,000,000 rupiah which would buy 10 grams of gold at that time. Then at renewal when the extension option is being exercised, the new rate will be 10 grams times the prevailing price of gold per gram at that time, in rupiah.
When buying a lease you must apply the same caution as you would when buying Hak Pakai, even more so, as in many cases the property may be subleased from the original leaseholder. This makes the chain of ownership longer and more complex and you will need to provide your Notaris with copies of the subleasor's agreements along with copies of identity cards and proof of land tax payment by sub leaser in addition to the owner's documents. The extension options on the agreement between the owner and primary leasor will dictate the maximum extension periods available to you. Again, do not transfer any funds until your Notaris/Legal Consultant has carried out the necessary due diligence on the additional documentation.
A question often asked is: so what is the difference between Hak Pakai and leasehold, both may be held by foreigners for 25 years, right? A leasehold is a contract between you and the owner of the rights to the property, your name will not be on the title or deed whereas with Hak Pakai you are the actual owner of the property, there is only one title or deed and it is your name that is on it. With leasehold, you agree compensation with the owner for the period mentioned in the contract. Any extension period will also involve compensation to the owner at an agreed price per Are. In the case of HP, you make no further payments to anyone once the title is on your name. There is an administrative fee to be paid to the Government on extension.
Another common type of real estate purchase made by foreigners in recent times is a luxury villa from a developer who has a management program in place to rent the property on your behalf when you are not using it. This is a tried and tested concept in many parts of the world though where it often falls short is when guarantees of unrealistic rental levels and returns are made for these investments. This is the classic case of buying a two-story house....one story before I bought, and another after. I have read some ridiculous claims being made by developers/agents who clearly know that the touted returns are unrealistic.
When buying a house you also need to have due diligence done on the land on which it is built. You need to establish that the contractor/developer had Planning Permission (IMB) for the structure and that the completed structure actually conforms to the dimensions on the Planning Certificate. You also need to ensure that utilities are connected and charges for usage will be billed directly to you. Getting utilities connected here can be a much longer and less straightforward process than it is back home. As mentioned previously, verify that your right of access is secure and if your property is part of a larger development, ensure that areas designated for facilities like pool, green areas, sports complex, etc have not been converted to housing instead. And again the 11th commandment is - don't pay anything until cleared to do so by your Notaris or Legal advisor.
The vast majority who have bought properties in Bali are blissfully happy with their investment so one shouldn't get put off by the horror stories, which are often the result of little or no due diligence. Adapt a cautious approach, get the best professional advice available and follow it. Don't get pressurized into paying before you and your advisor are satisfied that the deal is sound and don't take short cuts just to save a few rupiah, as it could cost you dearly in the long run. Property has been appreciating consistently in Bali so any investment you make is likely to turn a healthy profit.

Purchase of Real Estate in Germany

The actual and legal conditions for a real estate purchase in Germany differ considerably from those in other countries. The transfer of title is carried out in two steps: The conclusion of the purchase contract and the entry of the transfer of title into the land register.
The Land Register
The land register (Grundbuch) is administrated by the Land Registry at the particular Local Court. The function of the Land Register is to inform the public about the legal relationships in regard to a specific parcel of land. Albeit being a public register only such individuals gain access to it who can demonstrate a justified interest, e.g. banks and other creditors, public notaries, estate agents and potential purchasers.
In order to review the legal situation, each potential buyer is well advised to demand an actual extract of the land register. It is a basic feature of the German real estate law that transfers of ownership are accomplished as soon as they have been entered into the land register. Due to this constitutive effect of the transcription, any individual who is nominated in the register is always and automatically the lawful owner of the property. Due to its publicity, the contents of the sheets are ascribed public faith and credit. As a consequence, everyone can rely on their accuracy and further research regarding the title held by the seller need not to be carried out.
Each property has to be registered on a separate sheet. Past entries in the sheets are deleted by the officers of the Land Registry by underlining them in red. The files attributed to each sheet contain all relevant deeds regarding present or future entries in the register.
Every sheet is divided into an inventory listing (Bestandsverzeichnis) and three sub-sections (Abteilung). The inventory listing identifies the cadastral district (Flur) and unit (Flurstück) of the real estate and its size. The first section nominates the owner of the estate and the legal ground of his acquisition (purchase/ inheritance etc.). The second section shows all encumbrances in regard to the estate such as easements on the real estate or personal easements, heritable building rights, pledges or claims for recurrent payments or services, usufruct, priority notices, the owner´s limitations regarding the right to dispose of his title. The entries in the third section document if the real estate has been used before as a collateral security. These informations are important for any potential purchaser because irrespective of the individual who owns the property, each bailee of a lien on the real property is entitled to put the real estate onto auction in order to enforce his money claim.
The Purchase Contract
A purchase contract should provide stipulations about the following issues at least:
· Name of the parties
· Description of the purchase object
· Conveyance of property/ Priority notice of conveyance
· Purchase price
· Change of possession
· Warranty
· Costs of the purchase and their distribution
The purchase of real estate is subject to a mandatory notarial recording. Unless it is notarized any agreement is invalid. Therefore, any purchaser should take care that the complete agreement is presented to the notary (Notar) and included in the official deed. A German notary is a specialized lawyer. As the costs for the notary are usually born by the purchaser it is custom that the purchaser decides who shall effect the recording. It is the notary´s duty to convert the parties´ mutual agreement into an efficient and legally binding set of rules. He advises the parties from an independent point of view about rights and obligations arising of the purchase contract. Consequently, it is his main task to identify contractual loopholes and to prepare the draft. Moreover, notaries offer to take and keep the purchase price in a notary trust account until all conditions for a vested transcription are met (approval by the municipality, payment of the estate purchase taxes, entry of a priority notice in favour of the purchaser in the land register).
During the notarization ceremony the notary reads the document out loudly to the parties before they sign the deed. Notaries have to explain the contract details to the parties if questions arise but they are prohibited to give advice in favour of one party. The notarization may take place in English or any other language if the notary is fluent. As purchase contracts may be complicated any purchaser should study the draft and join the notarization personally. However, each party may also can be represented by an authorised representative. After the notarization the notary manages the necessary entries in the land register. The transcription of title is accomplished after app. six months. However, the basic contractual obligations (payment, entry of priority notice, transfer of possession, benefits and the liability for public charges) are performed within one month since the notarial recording.
Costs
The notary fees and the fees of the Land Registry are accounted according a schedule as provided in the Fee Act (Kostenordnung). They usually add up to 1,5 % of the purchase price. The commission for estate agents usually amounts to 3 % plus VAT for both parties. The tax rate on the purchase of real estate is 3,5 %. In Berlin it is 4,5 %.
The purchase from a building developer
The purchaser obligates himself to buy a house or an apartment and effects payment at a time when the construction of the building has not been completed. Such contracts (Bauträgervertrag) usually stipulate a purchase of undeveloped real estate plus the obligation of the developer to construct a building on it. Such contracts involve a conflict of interest between the building developer and the purchaser regarding the mode of payment. § 3 of the Agents-And-Building-Developers-Decree (Makler und Bauträger Verordnung) defines the progress payment as the legally binding mode of payment. However, the building developer is bound to several preconditions before he can claim any payments from the purchaser. Furthermore, § 3 Sec. 2 of the Agents-And-Building-Developers-Act provides maximum percentage installments of the purchase price which the developer can claim upon the accomplishment of particular steps of the construction.

Formalities of Marriage

Marriage is an important step in life for many people. A festive spirit prevails among the guests and the bride and groom. But beyond the festival, specific rules govern the validity of a marriage.
The Formality of Marriage
Since June 2002, the legislature has entrusted to notaries in Quebec the opportunity to solemnize civil marriages. Who better than the notary to ensure the smooth running of the ceremony and this, in an official and legal manor?
Before the marriage, certain formalities must be completed by the notary to ensure the validity of marriage. It ensures the ability of future couples to marry. The legal age for marriage is 16 years. For the bride and groom under 18 years, the notary must obtain the written consent of their parents. The notary must also determine if the bride and groom have or have never been married, their previous marriage must be ended by divorce or death.
Another essential condition of marriage is that it be made public. To do this, the notary must give at least 20 days notice before the celebration, a notice stating that there will be marriage between the bride and groom by specifying their names and date of birth respectively. This notice must be displayed at the courthouse nearest you. This review is also commonly known under the name "banns."
The preparation of this review should be done with the notary and a witness with knowledge of both spouses. At this meeting, it may be advisable to choose a matrimonial regime and if appropriate, to a marriage contract notarized.
The Place of Marriage
The notary can perform a marriage every day of the year, including Sundays and holidays. He must do so between 9 am and 10 pm.
The marriage can take place in the location of your choice, provided that the proposed location complies with the solemnity of the ceremony. The bride and groom are free to choose their place of marriage. Just mention to the notary place proposed to determine if it meets the requirements of the law.
The Celebration of Marriage
Since marriage has legal effects, the notary is required to comply with a protocol of celebration, so he/she must read specific articles of the Civil Code of Quebec to the bride and groom in the presence of two witnesses. These articles deal with the effects of marriage such as respect, loyalty, the obligation to live together, managing the family etc..
The notary will sign a declaration of marriage to their spouses and witnesses before signing it and forwarding it to the Director of Civil Status of Quebec.
It is important to discuss your expectations with the notary before the ceremony. Certain situations may alter the legal requirements for your ceremony and customize this event to make it a perfect day.

Can An Adopted Child Be Returned To Biological Parents?

Many adopting parents and adopted children across the United Kingdom have at least once asked themselves whether the process of adopting a child is final or whether there is a possibility that the biological parents could successfully reverse the new reality by 'claiming their child back' through the courts. This bothering question seems to have finally been answered by the Court of Appeal. In a decision, which Lord Justice Wilson said made him 'profoundly uncomfortable', the Court of Appeal has ruled that the adoption process is final. This means that children who are adopted after they have been removed from their biological parents cannot be returned to them, even if it is subsequently discovered that the parents were incorrectly accused of harming them. The case concerned a couple with four children. Three of the children were taken into care after suffering what were considered to be 'non-accidental' injuries. The children were adopted in 2004.
Evidence produced after this date indicated that the injuries sustained by the children were accidental, being consistent with the sort of injuries that would occur through normal parental handling of children suffering deficiencies of vitamin C and iron due to a diet based on soy milk rather than cow's milk. Appeals to set aside the adoption orders, made several years after the adoptions took place, failed, even though the Court was of the view that the original orders placing the children in council care would be unlikely to succeed were the case to be heard again. The adoption process is final. Once legal adoption has taken place, the child is, in law, the child of the new parents. For this reason, giving up a child for adoption or adopting a child is a decision which has to be given thorough consideration.

A Day In The Life Of A Blue Sky Paralegal

"Blue Sky Laws" are state laws that regulate the offering and the sale of securities to protect the public from fraud.
I have been working as a Blue Sky paralegal for more than 10 years. In this role, I am responsible for reviewing the offering memorandum and serving as a liaison with clients' in-house counsel to gather the information that is needed to complete the appropriate forms. After completing the forms, I coordinate the signature pages and have them signed by the authorized signatory. I then prepare the cover letters to the states and to the SEC, including an executed copy of the necessary forms together with a check to cover the filing fee.
I greatly enjoy the constant contact I have with attorneys and clients, and I also enjoy building relationships with the states regulators. While it is sometimes difficult to track down clients to get the information needed for the forms, I have found that creating a calendar and sending a reminder memo to my clients on a monthly basis has expedited the process.
My advice to any paralegals who may be considering pursuing Blue Sky as their area of expertise is to get as much training as they can in researching states laws, rules and exemptions. In addition, during the filing process, I'd recommend creating a file for each fund and maintaining a status chart to keep the work organized. Attention to detail, strong organization, and verbal and written communication skills are very important in this line of work.

Getting Sued Hiding Assets

You just had a car accident causing a fatality or a disability. You are handed a ticket and released with a warning not to leave the state. You call your lawyer, you're getting sued, you ask about hiding assets.
Your lawyer is going to tell you, there's nothing you can do.
In my book, it's better to do something than nothing. Exposing your open wallet for every potential creditor is not in my vocabulary. Your insurance company is your first line of defense. They will send a team of lawyers limited to your insurance coverage. But the Insurance Company is not going to cover your negligence.
Taking stack of what you own and how it's going to evaporate between legal fees and court decisions, completely out of control.
Your lawyer is partially incorrect. A judge is going to decide how much guilt you are going to bear. Your police are going to determine the amount of negligence and possible criminal prosecution. You will have to defend yourself on both fronts. Most people will hire one attorney to handle the civil and criminal. In my opinion, that's wrong. Criminal attorney are trained differently. The criminal side of life is to put up defenses to keep you out of jail. The civil attorney is to keep your assets. They are different defenses with different objectives.
4 THINGS YOU CAN DO IMMEDIATELY TO PROTECT YOUR ASSSET:
(1) Reposition your asset(s) with an independent trustee through an irrevocable trust, before the lawsuit is filed.
(2) Have your documents notarized and filed with the registry of deeds.
(3) Avoid fraudulent conveyance by transferring asset at less than it's fair market value.
(4) Hire an expert defense lawyer.
Will it work? It depends. But it's better to give them the run around to your assets than a straight line to your bank account.

Mouse Tails

Have you sighted our new Web? We netted it on the Inter surf.
The mice go where the action is. We know they curse over the small soft things like excel, word and outlook and use their launching pad to get to the Explorer. Once there, with the Cyber Pages heralding their arrival, they refresh themselves frequently with their favourites and google around for a better connection.
When they find a site they like they take small bytes and click left and right. A bunch of Genius Mice found our new site yesterday and clicked so loudly we could not hear the other surfers coming in by the wave to score hits.
Once, there was such a crowd that a collision took place. Of course they were trapped on the wrong side of the firewall in the collision domain for far too long and their screams broke the MHz barrier. They were taken to the NAP and immediately Ethernet, the anesthetic of choice, had to be administered to push them beyond the baseband gateways into unconsciousness so that the surgeons could commence building backbone.
They are highly communicative and sentimental and they message each other frequently. When they meet a prospective mate, they can be observed spending entire romantic evenings blissfully involved with what is commonly called parallel port and, for those with stamina, multiport repeaters! They wrap their long tails around each other and, if the bandwidth is satisfactory they can be quite productive. Once their multiplexing has taken place, it is usually fruitful and a little later the motherboard becomes creative and another one comes along.
Then they DE or discard eligibility in favour of DNA testing, for their protocol and sense of responsibility is faultless and can be rated highly. They actually measure their amplitude using the base 10 system and their final datagram is placed high up on bricks for all to see.
Our mice have other hobbies, for example, some are bit part actors, and others write bios about the more enterprising and spectacular of their species.
Some of the mice got together and tried to form a musical group but unfortunately it did not work owing to the fact that all of them were bass players; there was 10Base5, 10Base2, 10BaseT, and 100BaseT; this was a string quartet like no other. However, we did hear later that all of them had recently been released from the collision domain and were still quite high on Ethernet!
It was further reported that at this time, owing to the anaesthesia levels not dropping quickly enough, these mice became confused as to where they lived and kept changing addresses and showing up at the wrong houses. It was then that the ARP or Address Resolution Protocol was introduced. This was done out of necessity because the mice are so moral and it was causing embarrassment. So each house was given a different coloured application layer. One good thing came out of this; they began to appreciate their own architecture.
Then get back to us with serious critique; your honest opinion. We're always up for a little quality control and this time, your candour might just get you a high score and win you something; more than applause that is!
Whether there is spam on the main menu, or you are blogging or profiling, navigate your way to our domain; you'll be at home with us.

Of Dentures and Rubber Stamps

Rubber stamps have an interesting history for those who don't know that they might have been inspired by dentures. Yes, it's true: dental dentures! But first off, Charles Goodyear had to discover the secret to vulcanization. This is the process of "curing" rubber such that it can be molded as needed. Before Goodyear's discovery, rubber -- in its natural state -- was not very practical to work with. It is sticky but would not stay set in any one particular shape. With vulcanization, rubber, once cooled, would hold the shape in which it had been molded.
Many applications were thus found for rubber (poor Mr. Goodyear, incidentally, did not benefit financially from his invention, however, though he was publicly recognized by the Emperor of France and decorated with highly prestigious medals). One of these was dentures. Rubber was found to be a most welcome replacement for the dentures of that era, which were often made out of metal or even wood! Dentists were making their own dentures, and one of these dentists, it eventually turned out, had a curious nephew who started manufacturing rubber stamps for the U.S. Postal Service. This nephew, James Woodruff, is credited with inventing the quality rubber stamp we have come to know. There are numerous, in fact, numerous origins claimed of rubber stamps, and depending on how a rubber stamp is to be defined such geneses could even stretch back to Mayan civilization! The version just presented here is among the most widely accepted ones for those marking devices which we today would most immediately recognize as being rubber stamps.
Another very popular and widely accepted contender for the title of Inventor of The Rubber Stamp was L.F. Witherell, who went so far as to compose a document with the name of "How I Came to Discover the Rubber Stamp". He claimed to have gotten inspiration from his time as a foreman at a manufacturing facility of wooden pumps. Apparently, there was an identification marking problem of some kind where the paint would run, creating blotches on these pumps. Witherell hit upon the idea of creating stencils out of thin sheets of rubber packing. But while making the stencil, he thought to simply create thick letters out of the rubber, then gluing them to a backing of wood, with which he could make repeated impressions of his own initials.
The candidate considered least likely to be the inventor of rubber stamps, Henry C. Leland, was actually championed, ironically, at the time by no other than in an issue of the "Stamp Trade News" from a manufacturer of rubber stamps. But no matter the actual origins, there is no doubt that the rubber stamp itself has made quite an impression on history.

Custom Embosser - Prepare Your Logo for Embossing

Let's get this out right away, not all logos will convert to a great custom embosser. The reason, embossing logos are black and white artwork. Today, logos come in color and half-tone images.The good news, most of these logos can be converted to black and white images.
Most large corporations already have generated black and white versions - you just have to ask for it. But what about the rest of us that are small businesses or organizations, you have got to do it yourself. If your logo was designed as a vector file, you can easily convert the colors to black and white. Gray scale images also can be easily converted. The problem is with bitmap images. Here most likely you will have to hire a graphic artist to make the changes.
Resolution of Your Logo
Another big issue is the resolution of the artwork. To turn into an embosser, you need at least 300 dpi resolution. An easy way to tell is print your logo on your computer printer about the size of an embosser. If the edges of the artwork are smooth or almost smooth, your logo will work as an embosser. If the edges are jagged, your logo will not work as an embosser.
Thickness of Logo Lines for Embossing
Logos with very thin lines are a problem using as an embosser. You see, an embosser pushes up the paper to make an embossed image. The thinner the line, the less likely the line will show up on the paper. A good rule is to have no lines less than 1 point thickness. If you're going to emboss thicker paper, the rule changes to 2 point thickness.
What papers can be embossed?
Papers up to 25 lb. work fine with most embossed logos. When you go thicker is when problems start to happen - you start to lose the sharpness of the image. A good rule, the thicker the paper you use, you need a bolder logo to emboss. There are some tricks to use an embosser on a thicker paper. You can double pump the embosser. Another trick is to use a perfume bottle and fill it with water. Lightly spray both sides of the paper about 10 minutes before embossing. This softens the paper and now you can improve the embossing image on the paper. Doing this trick, you can get some thin card stocks to emboss.

For more information go to http://www.embosserconnection.com. Rex M. Tubbs has been in the embosser and engraving business for over 30 years. Rex is the past national president of the Awards and Recognition Association and is a seminar speaker.
We produce from address embossers to corporate logo embossers.