Archive
24. February 2009: Getting Sued for a Debt that is "Charged Off"
If you have a delinquent debt, after some time it will show up on your credit report as "charged off". A frequent inquiry is "what does this mean" and can I still be sued for it?...More
20. February 2009: Watch Out for Scam Artists Trying to Get Your New Economic Stimulus Payments
There are nearly 55 million retirees that could fall prey to scam artists. Under the American Recovery & Reinvestment Act signed into law on February 17, 2009 by President Obama, recipients of Supplemental Income, Social Security Disability Insurance, Veterans pension, Railroad Retirement, or State retirement will get a one-time payment of $250....More
15. February 2009: What is an Indemnification Clause?
Black's Law Dictionary, Sixth Edition provides that to indemnify is to restore the victim of a loss, in whole or in part, by payment, repair, or replacement. This indemnity would be set forth in a contract which contains an indemnification clause. Indemnification clauses are also referred to as Hold Harmless clauses because they save the indemnitee from harm by securing them against loss or damage. These are a mainstay of corporate transactions and are commonly seen for example in commercial lease agreements and insurance contracts.A simple indemnification clause might provide that if any legal proceedings shall be instituted or any claim asserted by any third party, the indemnitee shall give the indemnitor prompt written notice. The indemnitor shall then be entitled to assume the defense of any action, suit or claim brought against the indemnitee with respect to which the indemnitor may have indemnity liability thereunder. The indemnitor shall also be responsible for legal or other expenses incurred in connection with the defense thereof. The parties agree to cooperate fully with each other in connection with the defense, negotiation or settlement of any such proceeding or claim. Each party, without cost to the other party, shall make available to the other party and their attorneys and accountants all books and records of such party relating to such proceeding or litigation.
One should also consider using language that not only provides indemnity against loss already sustained, but also provides indemnity against loss at the time the liability arises. Indemnity against loss at the time the liability arises versus after the loss has already been sustained, is appropriate since the claim for indemnity arises upon the obligor indemnitor's default. ...More
13. February 2009: What is an EJD?
I recently became aware of the professional acronym, EJD. Since I am a lawyer, I was curious to learn about this new certification, which I deduced had something to do with legal education due to the familiar JD for Juris Doctor for law degree. The EJD is an academic degree that allows its holder to work in law and non-law related fields, but does not allow the practice of law as an attorney. It is offered by online / distance schools, Concord Law School of Kaplan University, Taft Law School, British-American University and Newport University. While these schools may be accredited by the Distance Education and Training Council, the EJD degree offered is not recognized by any bar association and graduates are not able to sit for a bar exam in any jurisdiction.Concord Law claims the trademark "EJD". It's website provides: ...More
11. February 2009: MI Damages Against Landlord For Unlawful Interference with Possession
According to Michigan Compiled Law (MCL) 600.2918, if a landlord puts a tenant out in a forcible and unlawful manner, or keeps the tenant out by force, the tenant if he prevails in court, is entitled to recover three times the amount of his actual damages or $200, whichever is greater. He is, of course, also entitled to recover possession of the premises.If the landlord "unlawfully interferes" with the tenant's possessory interest, the tenant can recover his actual damages or $200.00, whichever is greater, for each occurrence and, where possession has been lost, to recover possession. Unlawful interference includes: ...More
05. February 2009: Michigan Tenants by the Entireties
Question:Hello Ms. Walsh. I am writing with a question/comment regarding your article titled "Michigan Title Company Forces Married Persons to Take Title in Spouse's Name". I am specifically asking about whether creditors of either spouse may attach attach property owned by the entireties". I have read that real property owned by married couples in Michigan as "tenants by the entireties", may be exempt from liens or judgments against an individual spouse. Judgments that were against both spouses could attach a property owned as "tenants by the entireties", while a judgment against an individual spouse could not attach the property. I have also read articles that contradict this. Is it true that owning Michigan property as "tenants by the entireties" would provide some legal protection? If so, this seems very powerful. I would then think that a married couple should hold their home as "tenants by the entireties", while ownership of things that might get you sued (cars) should be held individually.
When I read about "tenants by the entireties" this past summer, I asked my real estate agent what he thought about it. He had no idea. Then I asked my cousin (he works in the legal profession). He said: "All property held by a married couple in Michigan is "tenants by the entireties". It's automatic. It doesn't need to be specified as tenants by the entireties on the deed. It's automatically tenants by the entireties, if you're married".
My opinion is:
1. That might be true (or not), in Michigan. But several federal cases regarding property located in Michigan, seem to hinge on "tenants by the entireties" being explicitly mentioned in the deed. Since "tenants by the entireties" does not exist in all states and several other forms of joint ownership also exist, maybe tenants by the entireties should be explicitly mentioned in a deed, in case of federal action.
2. If "tenants by the entireties" was not defined in the deed, the type of ownership might be open to argument or interpretation by a lawyer or judge.
Just curious what you think.
Thanks for your time. ...More