REAL ESTATE
Whether you are selling a home, planning new construction, or refinancing, our firm may be able to help you resolve real estate issues. We handle both residential and commercial property transactions, including closings, construction contracts, leases, refinances, landlord-tenant interactions, title insurance, title searches, foreclosure defense, Section 1031 like-kind exchanges, and commercial lending
We handle both residential and commercial property transactions, including closings, construction contracts, leases, refinances, landlord-tenant interactions, title insurance, title searches, foreclosure defense, Section 1031 like-kind exchanges, and commercial lending. Even when a property is yours, there are certain real estate laws that you will need to follow, depending on the circumstances. For example, when they lease out a home, a landlord must keep the property in a habitable condition, complying with housing and building codes that materially affect health and safety.
Often, real estate transactions carry tax consequences. If our clients’ needs include delaying tax liability, a like-kind exchange may be appropriate. Under Section 1031 of the federal tax code, when you exchange one investment property for another property that is “like-kind,” you will not need to immediately pay tax on it. Properties qualify as like-kind properties when they are of the same character or nature, even though they are of different quality. Generally, real estate investment properties are considered of a like kind. Our real estate attorney can advise Stamford residents and other clients on whether they can benefit from Section 1031.
LAND USE
We appear before local municipal boards and committees for matters related to land use, zoning, subdivision planning, and development site plan approvals. Mr. Lasnick has experience handling comprehensive land use, getting development plans approved, resolving zoning concerns, and obtaining permits from federal, state, regional, and local environmental agencies. Land parcels are divided according to the regulations established by the municipal planning commission through local subdivision regulations. The subdivision regulations cover the character of the lot as well as street and road design standards. Boards and commissions made up of local residents make most of the land use decisions in Connecticut. Each municipality needs to manage land use and development within its borders through mechanisms found in Connecticut General Statutes, Title 8.
Zoning and land use are covered by regulations that can have a significant impact on how you use your property. Our Stamford real estate attorney can help you understand the applicable rules. Under Connecticut General Statutes § 8-2h, an application filed with a zoning commission, planning and zoning commission, zoning board of appeals, or agency exercising zoning authority of a borough, city, or town that is in conformance with applicable zoning regulations at filing time will not be required to comply with any change in the zoning regulations or boundaries of zoning districts of the borough, city, or town that takes effect after the application is filed. An application for a building permit or certificate of occupancy filed with a building official before zoning regulations are adopted will not be disapproved because it does not comply with the prospective zoning regulations
ESTATE PLANNING
Probate is an expensive and often complicated legal process whereby a decedent’s debts are paid and their remaining assets are distributed. Sometimes, prior to passing, people develop an estate plan that includes non-probate transfers of assets. It may be possible to avoid probate by using living trusts. Mr. Lasnick has experience preparing wills and establishing trusts, including revocable trusts, irrevocable trusts, charitable trusts, irrevocable life insurance trusts, qualified personal residence trusts, and special needs trusts. He also can assist with probate administration, trust administration, and the preparation of advance medical directives.
When an estate plan is appropriately implemented through the creation of a will, trusts, and advance medical directives, it may be possible to avoid long, expensive probate conflicts, preserve wealth, reduce tax consequences, and specify what you want to have happen at the end of your life. There are different types of trusts that can be created to achieve specific effects. For example, under some circumstances, trusts can be created that will manage some or all of an individual’s assets. The trust terms will be carried out by trustees, who hold legal title to the assets for the trust beneficiaries’ benefit.
TAX APPEALS
In addition to serving as a Stamford real estate lawyer and assisting Connecticut clients with their estate planning needs, David Lasnick can file tax appeals on their behalf. Real and personal property holdings for all cities and towns in Connecticut are assessed on October 1 of each year. A declaration of taxable personal property owned as of October 1 needs to be submitted to the Tax Assessor. All property is supposed to be assessed at 70% of its fair market value. The total assessed value of all taxable property is called a Grand List and is usually published on or before January 31 of the subsequent year. In almost all Connecticut municipalities, it should be paid on the following July 1 and January 1. If there is to be a revaluation in a particular year, you will receive a notice of assessment before January 31. The value displayed on a notice will often be the assessed or taxable value rather than the fair market value or full value.
If you do not file a tax appeal by the appropriate deadline, you may waive your right to appeal tax assessments for an assessment year. The property owner can file an appeal, as can a tenant that has a recorded notice of lease, a duty to pay real property taxes, and the permission of the property owner to appeal the taxes. Whether lenders and others have appeal rights is an issue covered by agreements with the tenant or property owner. Instead of appealing to the local BAA, when a tax is assessed illegally and is manifestly excessive, you can appeal directly to a Connecticut Superior Court. Also, if you receive an adverse BAA decision, you can appeal it to a Connecticut Superior Court within two months of the date that the notice of the BAA’s decision was mailed. Otherwise, you will lose the right to keep appealing the tax assessment for that assessment year. Once an assessment is appealed to a Superior Court, a taxpayer is entitled to restrict their tax payment by 10-25% of the tax payment due, subject to the statutory limits created by the property’s assessed value. If your appeal is unsuccessful, however, you can be charged interest at 18% annually on the unpaid balance.
REAL ESTATE
Whether you are selling a home, planning new construction, or refinancing, our firm may be able to help you resolve real estate issues. We handle both residential and commercial property transactions, including closings, construction contracts, leases, refinances, landlord-tenant interactions, title insurance, title searches, foreclosure defense, Section 1031 like-kind exchanges, and commercial lending
We handle both residential and commercial property transactions, including closings, construction contracts, leases, refinances, landlord-tenant interactions, title insurance, title searches, foreclosure defense, Section 1031 like-kind exchanges, and commercial lending. Even when a property is yours, there are certain real estate laws that you will need to follow, depending on the circumstances. For example, when they lease out a home, a landlord must keep the property in a habitable condition, complying with housing and building codes that materially affect health and safety.
Often, real estate transactions carry tax consequences. If our clients’ needs include delaying tax liability, a like-kind exchange may be appropriate. Under Section 1031 of the federal tax code, when you exchange one investment property for another property that is “like-kind,” you will not need to immediately pay tax on it. Properties qualify as like-kind properties when they are of the same character or nature, even though they are of different quality. Generally, real estate investment properties are considered of a like kind. Our real estate attorney can advise Stamford residents and other clients on whether they can benefit from Section 1031.
LAND USE
We appear before local municipal boards and committees for matters related to land use, zoning, subdivision planning, and development site plan approvals. Mr. Lasnick has experience handling comprehensive land use, getting development plans approved, resolving zoning concerns, and obtaining permits from federal, state, regional, and local environmental agencies. Land parcels are divided according to the regulations established by the municipal planning commission through local subdivision regulations. The subdivision regulations cover the character of the lot as well as street and road design standards. Boards and commissions made up of local residents make most of the land use decisions in Connecticut. Each municipality needs to manage land use and development within its borders through mechanisms found in Connecticut General Statutes, Title 8.
Zoning and land use are covered by regulations that can have a significant impact on how you use your property. Our Stamford real estate attorney can help you understand the applicable rules. Under Connecticut General Statutes § 8-2h, an application filed with a zoning commission, planning and zoning commission, zoning board of appeals, or agency exercising zoning authority of a borough, city, or town that is in conformance with applicable zoning regulations at filing time will not be required to comply with any change in the zoning regulations or boundaries of zoning districts of the borough, city, or town that takes effect after the application is filed. An application for a building permit or certificate of occupancy filed with a building official before zoning regulations are adopted will not be disapproved because it does not comply with the prospective zoning regulations
ESTATE PLANNING
Probate is an expensive and often complicated legal process whereby a decedent’s debts are paid and their remaining assets are distributed. Sometimes, prior to passing, people develop an estate plan that includes non-probate transfers of assets. It may be possible to avoid probate by using living trusts. Mr. Lasnick has experience preparing wills and establishing trusts, including revocable trusts, irrevocable trusts, charitable trusts, irrevocable life insurance trusts, qualified personal residence trusts, and special needs trusts. He also can assist with probate administration, trust administration, and the preparation of advance medical directives.
When an estate plan is appropriately implemented through the creation of a will, trusts, and advance medical directives, it may be possible to avoid long, expensive probate conflicts, preserve wealth, reduce tax consequences, and specify what you want to have happen at the end of your life. There are different types of trusts that can be created to achieve specific effects. For example, under some circumstances, trusts can be created that will manage some or all of an individual’s assets. The trust terms will be carried out by trustees, who hold legal title to the assets for the trust beneficiaries’ benefit.
TAX APPEALS
In addition to serving as a Stamford real estate lawyer and assisting Connecticut clients with their estate planning needs, David Lasnick can file tax appeals on their behalf. Real and personal property holdings for all cities and towns in Connecticut are assessed on October 1 of each year. A declaration of taxable personal property owned as of October 1 needs to be submitted to the Tax Assessor. All property is supposed to be assessed at 70% of its fair market value. The total assessed value of all taxable property is called a Grand List and is usually published on or before January 31 of the subsequent year. In almost all Connecticut municipalities, it should be paid on the following July 1 and January 1. If there is to be a revaluation in a particular year, you will receive a notice of assessment before January 31. The value displayed on a notice will often be the assessed or taxable value rather than the fair market value or full value.
If you do not file a tax appeal by the appropriate deadline, you may waive your right to appeal tax assessments for an assessment year. The property owner can file an appeal, as can a tenant that has a recorded notice of lease, a duty to pay real property taxes, and the permission of the property owner to appeal the taxes. Whether lenders and others have appeal rights is an issue covered by agreements with the tenant or property owner. Instead of appealing to the local BAA, when a tax is assessed illegally and is manifestly excessive, you can appeal directly to a Connecticut Superior Court. Also, if you receive an adverse BAA decision, you can appeal it to a Connecticut Superior Court within two months of the date that the notice of the BAA’s decision was mailed. Otherwise, you will lose the right to keep appealing the tax assessment for that assessment year. Once an assessment is appealed to a Superior Court, a taxpayer is entitled to restrict their tax payment by 10-25% of the tax payment due, subject to the statutory limits created by the property’s assessed value. If your appeal is unsuccessful, however, you can be charged interest at 18% annually on the unpaid balance.