Harrells Construction Lawyer, North Carolina, page 3
Includes: Construction Contracts, Construction Liens, Housing & Construction Defects
Robert Ross Hoon
Real Estate, Construction, Contract, Corporate
Status: In Good Standing Licensed: 38 Years
601 S. College Road, Wilmington, NC 28403
Profile LAWPOINTS™17/100
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Lawrence S. Craige
Construction, Elder Law, Civil & Human Rights, Corporate
Status: In Good Standing Licensed: 27 Years
701 Market St, Wilmington, NC 28401
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Joel R. Rhine
Accident & Injury, Litigation, Housing & Construction Defects, Workers' Compensation, Car Accident
Status: In Good Standing
1612 Military Cutoff Road, Wilmington, NC 28403
Profile LAWPOINTS™36/100
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WESLEY SCOTT JONES
Construction, Housing & Construction Defects, Construction Liens, Litigation
Status: In Good Standing Licensed: 30 Years
FREE CONSULTATION 
CONTACT 1904 Eastwood Road, Wilmington, NC 28403
Profile LAWPOINTS™77/100
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TIPS
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LEGAL TERMS
JOINT TENANCY
A way for two or more people to share ownership of real estate or other property. When two or more people own property as joint tenants and one owner dies, the ... (more...)
A way for two or more people to share ownership of real estate or other property. When two or more people own property as joint tenants and one owner dies, the other owners automatically own the deceased owner's share. For example, if a parent and child own a house as joint tenants and the parent dies, the child automatically becomes full owner. Because of this right of survivorship, no will is required to transfer the property; it goes directly to the surviving joint tenants without the delay and costs of probate.
LIABILITY INSURANCE COVERAGE
Compensation to third parties who are injured or whose property is damaged due to the fault of the insurance holder. You may have liability insurance for your c... (more...)
Compensation to third parties who are injured or whose property is damaged due to the fault of the insurance holder. You may have liability insurance for your car or your home, or to cover actions you take in the course of your profession. Liability polices are sometimes called 'third-party policies.'
EXPRESS WARRANTY
A guarantee about the quality of goods or services made by a seller, such as 'This item is guaranteed against defects in construction for one year.' Most expres... (more...)
A guarantee about the quality of goods or services made by a seller, such as 'This item is guaranteed against defects in construction for one year.' Most express warranties come directly from the manufacturer or are included in the sales contract. If you want to hold the seller to an oral guarantee, it's best to get it in writing or have witnesses to the guarantee so that it doesn't come down to your word against the seller's if a problem arises.
MARITAL DEDUCTION
A deduction allowed by the federal estate tax laws for all property passed to a surviving spouse who is a U.S. citizen. This deduction (which really functions a... (more...)
A deduction allowed by the federal estate tax laws for all property passed to a surviving spouse who is a U.S. citizen. This deduction (which really functions as an exemption) allows anyone, even a billionaire, to pass his or her entire estate to a surviving spouse without any tax at all.
PATENT CLAIM
A statement included in a patent application that describes the structure of an invention in precise and exact terms, using a long established formal style and ... (more...)
A statement included in a patent application that describes the structure of an invention in precise and exact terms, using a long established formal style and precise terminology. Patent claims serve as a way for the U.S. Patent and Trademark Office (PTO) to determine whether an invention is patentable, and as a way for a court to determine whether a patent has been infringed. In concept, a patent claim marks the boundaries of the patent in the same way as the legal description in a deed specifies the boundaries of the property.
INTANGIBLE PROPERTY
Personal property that has no physical existence, such as stocks, bonds, bank notes, trade secrets, patents, copyrights and trademarks. Such 'untouchable' items... (more...)
Personal property that has no physical existence, such as stocks, bonds, bank notes, trade secrets, patents, copyrights and trademarks. Such 'untouchable' items may be represented by a certificate or license that fixes or approximates the value, but others (such as the goodwill or reputation of a business) are not easily valued or embodied in any instrument. Compare tangible property.
SHORT SALE (OF HOUSE)
A sale of a house in which the proceeds fall short of what the owner still owes on the mortgage. Many lenders will agree to accept the proceeds of a short sale ... (more...)
A sale of a house in which the proceeds fall short of what the owner still owes on the mortgage. Many lenders will agree to accept the proceeds of a short sale and forgive the rest of what is owed on the mortgage when the owner cannot make the mortgage payments. By accepting a short sale, the lender can avoid a lengthy and costly foreclosure, and the owner is able to pay off the loan for less than what he owes. See also deed in lieu (or foreclosure).
HEIR
One who receives property from someone who has died. While the traditional meaning includes only those who had a legal right to the deceased person's property, ... (more...)
One who receives property from someone who has died. While the traditional meaning includes only those who had a legal right to the deceased person's property, modern usage includes anyone who receives property from the estate of a deceased person.
NET LEASE
A commercial real estate lease in which the tenant regularly pays not only for the space (as he does with a gross lease) but for a portion of the landlord's ope... (more...)
A commercial real estate lease in which the tenant regularly pays not only for the space (as he does with a gross lease) but for a portion of the landlord's operating costs as well. When all three of the usual costs--taxes, maintenance and insurance--are passed on, the arrangement is known as a 'triple net lease.' Because these costs are variable and almost never decrease, a net lease favors the landlord. Accordingly, it may be possible for a tenant to bargain for a net lease with caps or ceilings, which limits the amount of rent the tenant must pay. For example, a net lease with caps may specify that an increase in taxes beyond a certain point (or any new taxes) will be paid by the landlord. The same kind of protection can be designed to cover increased insurance premiums and maintenance expenses.
SAMPLE LEGAL CASES
RON MEDLIN CONST. v. Harris
RON MEDLIN CONSTRUCTION, a Partnership, and George Ronald Medlin, Individually, Plaintiffs,
v. Raymond A. HARRIS and Sarah N. Harris, Defendants, and Ron Medlin Construction, a
Partnership, and GEORGE RONALD MEDLIN, Individually, Plaintiffs and Third Party ...
SCHENKEL & SHULTZ v. HERMON FOX & ASSOCS.
... Construction began in the fall of 2000, but by the spring of 2001, project contractors, subcontractors,
and consultants documented in correspondence with Schenkel their concerns regarding the
integrity of the structural steel components of the project and requested that an ...
Persis Nova Const., Inc. v. Edwards
PERSIS NOVA CONSTRUCTION, INC., d/b/a Persis-Nova Construction Company a/k/a P & N
Homes, Plaintiff, v. Bruce K. EDWARDS and Kathlyn E. Edwards, Defendants. ... The final contract
price of the construction cost of Mr. and Mrs. Edwards has been finalized at $274,500.... ...
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