Homeowners’ Associations (HOAs) can play a crucial role in maintaining and enhancing the value and quality of life within residential communities. One of the essential tasks for an HOA is drafting bylaws that govern the community’s operations. This process requires careful attention to legal details and community needs. Below are valuable insights into three critical aspects HOAs in Pennsylvania must consider when drafting bylaws. Tailoring bylaws to community needs Every residential community is unique, with its own set of values, preferences and challenges. Therefore, bylaws should reflect t ..read more

On January 1, 2021, Congress enacted a new law called the Corporate Transparency Act (CTA or the Act). The main purpose of the CTA is to prevent United States’ business entities from committing monetary crimes such as money laundering, which is the transfer of illegally obtained money via foreign bank accounts or even through legitimate businesses. Money launderers can often conceal their identities behind these bank accounts or businesses. To curb such illicit activities, the CTA imposes various reporting requirements on certain businesses called “Reporting Companies” (also called “Domestic R ..read more

Some people start a professional career that is benefitted by starting a business. Starting a small professional practice, becoming a local service provider or even opening a retail business can be ways for an entrepreneur to be their own boss. There are also many people who purchase a business, such as those who run franchises, and others who might inherit a business. Those who run a business have obligations to the company, to their customers/clients and even to their employees. They often aim to keep the company operational even after they retire or die. Therefore, when a business owner sta ..read more

If you are about to purchase your first piece of property for investment rather than to live in, it is crucial to make a mind switch. Entering negotiations with the same attitude you had to purchase the family home could leave you wishing you had invested elsewhere. It does not matter if you like it Personal taste is crucial when buying somewhere to live. However much of a financial bargain a place seems, you are not getting good value for money if you hate living there. When you buy to lease or flip, you need to put your tastes aside and decide what your target renters or buyers would like. F ..read more

The probate process occurs when the courts need to oversee the administration of someone’s estate. The requirements for probate are somewhat different in Pennsylvania when compared with much of the rest of the country. In many states, probate oversight is necessary when the total value of someone’s property when they die reaches a certain point, when they die without estate planning paperwork or when they possess real property in their name only. In Pennsylvania, probate oversight is necessary anytime someone has an asset solely in their name, meaning they do not own it jointly with another in ..read more

Purchasing a home is a very involved process. It can take weeks of research to find the right property, and buyers may have to compete with many other parties interested in the same home. Typically, buyers need to make their best possible offer when the market is competitive. Even with higher interest rates recently, low inventory of available homes in the Pittsburgh market has kept competition keen. The offer process usually includes offering a purchase price that reflects what the property is worth in the current market and the fewest conditions a buyer is comfortable offering. To ensure tha ..read more

Part 2: Other Key Aspects A few other notable changes have been made to Title 68 for CICs, including updated language on the removal of executive board members, procedures to amend bylaws, and quorum guidance. § 3303, § 4303, and § 5303: Executive Board Members and Officers – Removal of Executive Board Members Prior to Act 115, not all the CIC statutes contained guidance for removing executive board members. As it stood, § 4303 (g) of the RECA afforded such guidance to Cooperatives and § 5303 (f) of the UPCA did the same for Planned Communities. But now, with § 3303 (g)—a new subsection of the ..read more

Part 1: Meeting and Voting The coronavirus pandemic altered every aspect of life within every facet of society. The operations of Pennsylvania’s Condominiums, Planned Communities, and Cooperatives, collectively known as Common Interest Communities (CICs), were also substantially impacted. Pandemic mandates restricting “in-person” activities were at odds with Pennsylvania’s CIC statutes which required associations to hold “in-person” meetings, vote “in-person or by proxy,” and to mail meeting notices. These stipulations, found in three separate statutes within PA Title 68 on Real and Personal P ..read more

Estate planning is an important process for any adult. People all too often let themselves focus on minutiae that deter them from creating an estate plan. For example, they may read about the value of having a trust and then end up getting confused when they look at the list of different types of trusts that testators can create. Instead of seeking guidance, they get frustrated and put off the task of crafting a plan for another day. An estate plan can very easily be viewed as a complex, complicated collection of documents. However, just managing the basics can be sufficient for many people. S ..read more

Although many people buy used homes, the demand for new homes is also consistently high. In recent years, there has been a noteworthy gap between the number of new houses coming on the market and the number of people hoping to purchase a home. A lack of adequate supply has led to increased asking prices. However, as markets change and adjust to higher interest rates, some buyers who were previously enthusiastic about buying may start to have reservations. Some builders have starting slowing construction to protect themselves from what they view as likely market contraction in the future. Other ..read more