General
Forfeiture vs. foreclosure of land contracts in Michigan? 5 things to consider
When a buyer defaults on a land contract, the seller can generally pursue one of two legal remedies: forfeiture or foreclosure. Both remedies have advantages and disadvantages. In general, forfeiture is faster, cheaper and easier than foreclosure but does not allow you to accelerate the debt or obtain a deficiency judgment. Forfeitures are summary proceedings…
Read MoreSeven Asset Protection Planning Tips
Seven Asset Protection Planning Tips “The time to repair the roof is when the sun is shining.” John F. Kennedy Asset protection planning seeks to protect your assets from future creditors. An asset protection plan is designed to deter future creditors from seizing your assets or collecting on judgments. Coordinate your asset protection planning with…
Read MoreIf you are sued – Five things you should know about litigation
“Discourage litigation. Persuade your neighbors to compromise whenever you can. As a peacemaker the lawyer has superior opportunity of being a good man. There will still be business enough.” Abraham Lincoln Being sued is stressful. Litigation brings visions of ruthless attorneys, reams of papers and endless money spent on legal fees. However, taking an active,…
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