Effective January 2022 The new section of the Virginia Code, Section 55.1-708.2, requires “the owner of residential real estate property located in the Commonwealth who has actual knowledge that the dwelling unit is a repetitive risk loss structure shall disclose such fact to the purchaser.” What is “Repetitive Risk”? The statute further defines that “repetitive

In this article, we will cover the obligations of both Buyer and seller as well as the title company, brokers, agents and lenders (“Participants”) (presuming that a mortgage loan is used by the Buyer). Once the Buyer and seller have executed the contract, and all parties have received a copy of the fully executed contract,

LexisNexis Practical Guidance, “Choice of Ownership Structure of Real Property,” by Faisal Moghul and Terry Fox (June 9, 2022)

LexisNexis Practical Guidance, “Purchase and Sale of Commercial Real Property (VA),” by Faisal Moghul and Terry Fox (November 15, 2021)

We at Fox and Moghul often receive queries by individuals, companies (LLCs, LP, S/C Corps) either facing an imminent judgment, or having already been subjected to a civil judgment in a court of law. In such cases, it is important for the judgment-debtor to be aware of the following key issues. When an individual receives

Our office receives multiple calls every day touching upon some of the issues discussed in this article. Purchasing a commercial property in Virginia is a complex process that often requires the assistance of an experienced Virginia Real Estate Lawyer. Please feel free to call our office to discuss the following issues with respect to the

We at Fox and Moghul often get queries regarding HOA/Condo Association disputes. This pertains to an area of real estate law that is very specialized and requires an understanding of the structure of community associations. Some examples of such disputes include, but are not limited to, property upkeep and maintenance, water damage from common elements,

Also read Introduction to Limited Liability Companies in Virginia The LLC Is an Entity Separate and Distinct from Its Owners The single most common reason people hold hold property in an LLC is to protect their personal assets This can be done because “[l]ike a corporation, a limited liability company is a legal entity entirely

If you are planning on buying real estate in Virginia along with someone else, then you must take several factors into account, particularly when the other co-owner is not your husband or wife, or a family member whom you trust. First, consider the form of taking title. Please read our article on Types of Deeds

BUSINESS ENTITIES – COMPARISON CHART Difference between S Corp and C Corp and LLC Copyright © Fox and Moghul 2020 Entity Limited Liability Company (LLC) S Corporation C Corporation Partnership Description An LLC can only be formed by making appropriate filing with the state (see below). Owners are called members and the LLC may be