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Phone: 410-626-6009

Evans Law

113 Cathedral Street
Annapolis, MD 21401

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572 Ritchie Highway, Suite E
Severna Park, MD 21146

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Basically, by utilizing a 1031 Exchange, you’re

Basically, by utilizing a 1031 Exchange, you’re able to swap one property for another like-kind property and defer all capital gains taxes. The properties being exchanged must be considered like-kind in the eyes of the Internal Revenue Service (IRS) for capital gains taxes to be deferred. This method allows you to keep more capital to purchase a like-kind property.

There are four main types of 1031 Exchange to be aware of.
1. Delayed Exchange: When you close on the sale of your original property before
purchasing your replacement property.
2. Reverse Exchange: When you buy your like-kind property before selling your
original property.
3. Construction Exchange: When you use the cash you saved from deferring taxes
to renovate your replacement property.
4. Simultaneous Exchange: When your 1031 property exchange occurs
simultaneously. Essentially the sale of your property and the purchase of a new
like-kind property close on the same date.

Our attorneys are experienced in handling complex real estate transactions and are ready to help you when you need us. (410)626-6009 #WhatWeDoWednesday #whatwedowednesdays #1031exchange #realestateinvestment #taxdeffered #marylandrealestateattorneys

A subcontractor agreement is necessary to specify

A subcontractor agreement is necessary to specify a general contractor’s and subcontractor’s responsibilities toward each other on a host of issues. Without a written agreement, expectations aren’t clear, misunderstandings may occur, work may not get done, and projects may be put in jeopardy. A subcontractor agreement can benefit both parties by creating deadlines, ensuring timely payment, and clearly identifying responsibilities. Such a contractor agreement can help ensure that a project gets done on time and to the proper specifications.

Our attorneys are adept at writing, interpreting, negotiating and litigating matters associated with contractor/subcontractor relationships and more. If you need assistance, don't hesitate to give us a call. (410)626-6009 #whatwedowednesdays #subcontractoragreement #constructionlaw #evanslawannapolis #contracts #realestaeattonorneys

If you regularly purchase or sell property, you ma

If you regularly purchase or sell property, you may have come across implied, express, and prescriptive easements. Although these all have the same general outcome, there are significant differences that can impact your real estate transactions.

An easement is the right to use someone else’s property for a specific, limited purpose. For example, If there’s a public pond surrounded by private homes, a road that runs through the yards may allow visitors to temporarily access others’ property to reach the pond.

Implied Easement: Is not explicitly included in real estate legal documents. However, it is no less legally binding. There are several requirements that must be met for an implied easement to exist.

1. The easement must be necessary for full use of the original property.
2. The property must have been divided among new owners at one time.
3. The intended use of the easement must have been present before the property division.

Express Easement: Is essentially the opposite of an implied easement. An express easement is included in the proper real estate legal documents. They are generally created by a will or deed and allow for the future use of the easement.

Prescriptive Easement: Does not occur with the permission of the property owner. It happens when another party continuously uses the property owner’s land in a way that ignores or violates their rights. If they do it for a long enough period of time, they actually gain the right to use the land!

This is why it’s so important for property owners to protect their land and avoid permitting others to encroach on it. It’s also another reason that land surveys are so important. Without a land survey, you may think that your property ends short of where your actual property line is. If your neighbor uses that part of your property for long enough, it might become theirs. For more information, read the full article on our website linked in the bio, or give us a call. We are always available to help! (410) 626-6009
#whatwedowednesdays #evanslawannapolis #easements #realestateattorneys #landuseattorneys

Congratulations Matt & Gary!!! #leadinglawyers #le

Congratulations Matt & Gary!!!
#leadinglawyers #leadinglawyers2022 #whatsupmag #annapolis

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The information provided in these pages is not legal advice, and should not be relied on as such. The content on these pages is for informational purposes only, and is meant as a starting point on your search for answers to your legal questions.

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