Newburyport Real Estate Law Attorneys
Connolly & Connolly • Newburyport, Massachusetts • (978) 961-0047
At the Law Offices of Connolly & Connolly, our professional team of attorneys and paralegals is experienced in representing clients in all aspects of Residential and Commercial Real Estate Transactions.
Residential Real Estate Closings
We assist Buyers, Sellers and Lenders in every stage of the real estate transaction. For most Buyers, the purchase of a home represents one of the most significant investments they will make. Many buyers and sellers do not realize that the Offer to Purchase which they sign may constitute a binding agreement under Massachusetts law, even though it may state that it is contingent upon the parties later signing a Purchase and Sale Agreement. Buyers and sellers should have an attorney review these documents before signing. The attorneys at Connolly & Connolly have experience in the review and preparation of the Offer and Purchase and Sale Agreement. Buyers need to be sure that they undertake a timely and thorough home inspection and that they are buying a property with a clear, record and marketable title. Sellers need to be careful that the Disclosure Statement that they provide to the real estate broker in connection with their Listing Agreement is accurate and does not contain any inaccuracies or misrepresentations. The Disclosure Statement and Listing Agreement are documents with significant legal consequences for the parties. The attorneys at Connolly & Connolly are experienced in assisting buyers, sellers and lenders with every phase of a residential real estate transaction, from the initial Listing, Offer, Purchase & Sale Agreement, Due Diligence Process, Title Examination, preparation of the Real Estate Settlement Statement and other closing documents, to representation at the actual Real Estate Closing.
Commercial Real Estate Transactions
The representation of a Buyer, Seller or Lender in a commercial transaction involves the added complexity of ensuring that the property may be used for its intended commercial purpose under zoning or that required zoning relief is obtained before closing; that all environmental issues are addressed, including hazardous waste review and clean-up; that all state and federal administrative agency review, licensing and permitting requirements are identified and obtained; that there is compliance with all applicable conservation, wetlands and other regulations; that the business parties to the transaction have due authority to act pursuant to their governance charters and that all requisite authorizations from shareholders, directors, members, managers or limited partners are obtained; that a cooperative working relationship is established with the Planning Office and Building Inspector of the community where the land is located; as well as all aspects of the structuring, review and documentation of the Commercial Loan Transaction.
The attorneys at Connolly & Connolly are experienced in handling commercial real estate transactions that involve multi-unit residential and commercial leased space, housing developments, condominiums, marinas, restaurants, manufacturers, industrial uses, and general business, retail and professional uses.
Easements and Restrictions
Sometimes, as part of a residential or commercial real estate transaction, the parties are interested in preserving open space or a significant historical façade. It is often possible to achieve the mutual goals of the parties, and obtain favorable tax benefits, through the use of a conservation easement or restriction. The professional team at Connolly & Connolly has experience working with individuals, developers and non-profit organizations, to preserve wetlands, farmland, open space or a historical building, while at the same time enabling responsible development, through conservation easements and restrictions.
Many real estate transactions involve the sale or purchase of a condominium unit. These transactions require specific knowledge of Condominium laws and review of the Master Deed, Condominium Bylaws and other rules relating to the use of the condominium unit. It is important that an experienced real estate attorney, with knowledge of the condominium laws, be consulted. The attorneys at Connolly & Connolly have represented developers with the preparation of all Condominium documents and plans required to create a Condominium and the Condominium Association, and are experienced in all aspects of Condominium Law. We have also represented Condominium Associations regarding authority and management issues and enforcement of rules and liens.
An agreement relating to the use and occupancy of real estate is a “lease agreement”. Sometimes there is no written agreement regarding a tenancy, in which case the tenant is considered a tenant at will. A landlord may terminate a tenancy at will by providing the tenant with written notice, of at least the same time frame as the rental period. A tenancy at will does not afford the parties the protections of a written lease agreement. There are many specific laws that protect the rights of tenants in a residential lease. It is important that tenants and landlords be aware of the many rules governing residential lease agreements. Residential Lease Agreements should address rent, term, permissible and prohibited activities, deposits, the condition of the premises, and required disclosures. Commercial Lease Agreements should clearly define the landlord’s and tenant’s duties relating to maintenance, improvements, upkeep of the leased premises, structure and common areas; parking rights; non-competition provisions if applicable; definition of the permissible uses; options to extend or purchase; base rent and additional expenses; and rental increases or the method of determining the rental amount for extensions. The attorneys at Connolly & Connolly are experienced in drafting residential lease agreements and simple and complex commercial lease agreements.
Real Estate Disputes
Real estate disputes may arise regarding boundary lines, adverse possession claims, the use of rights of way, applicability of easements or restrictions, title issues, environmental or land use violations, breaches of purchase and sale agreements, and trespass, among others. The attorneys at Connolly & Connolly will work with the client to attempt to amicably resolve the issue through negotiation. If a satisfactory negotiated settlement cannot be reached, our attorneys are experienced in representing clients in the Land Court and other courts in real estate disputes.
A foreclosure proceeding is the formal process by which a Bank, Mortgage Company or other Lender forecloses the Mortgage lien that it holds on a piece of real estate, and exercises its power to sell the property. The terms of the Note and Mortgage normally govern the rights of the parties. However, Massachusetts has enacted stringent foreclosure notice requirements for all residential mortgages that must be strictly followed in order for the foreclosure proceeding to be valid. Our attorneys are very knowledgeable with all aspects of residential and commercial mortgage foreclosures and have handled numerous residential and commercial foreclosures and secured party sales.
The New Homestead Law
Did you know that a new Homestead law went into effect on March 16, 20ll that affords homeowners in Massachusetts a homestead exemption of up to $500,000 if they properly file a Homestead Declaration? Homeowners who do not file a Homestead Declaration, receive only a limited homestead protection of up to $125,000. There are special requirements depending on whether you are single, married, elderly or if the property is in held in trust. If you would like to take advantage of the new homestead law, contact an attorney at Connolly & Connolly.
Whether you are an individual who is buying or selling a home, a business or developer who needs assistance with a commercial real estate transaction, or the lender, the professional team at Connolly & Connolly will provide you with the personalized attention and experienced counsel you require to serve your legal needs.