Our Legal Department
Question: Why Do We have a Legal Department?
Answer: Because every buyer and seller needs to consider the legal ramifications of their transaction.
True story: A U.S. Citizen living and working in China, married to a Chinese Citizen returned to his home town of Berkeley to purchase an investment property with money he had received from an inheritance. He retained a locally franchised office of a large, nationally franchised brokerage with an emphases on "luxury" and "international presence." Unfortunately, none of the rather obvious legal implications of his purchase were explained to him because nobody at the brokerage understood them themselves. Nor was he advised to seek legal counsel when his questions were left unanswered. He ended up taking title to the property in his individual capacity, subjecting himself to sufficient personal liability to erase all his other assets, and subjecting his wife to U.S. income taxation despite that she had never stepped foot on U.S. soil. After closing escrow, he immediately sought help from Stea Realty Group. But much of the damage was irreversible.
Had he presented to Stea Realty Group in the beginning, all of the legal ramifications of his purchase would have been explained to him, the necessary legal entities would have been created in order to properly shield his personal assets, and his wife would have been adequately protected from U.S. income taxation through strategic tax and estate planning. All of this at a fraction of the cost he ended up incurring as a result of the ignorance of the nationally franchised brokerage to which he first presented.
In choosing legal counsel, it is important to understand that not all Attorneys are created equal. Having worked with many different Attorneys over the years, Stea Realty Group is proud to associate itself with:
Legal Notice: There is no attorney/client relationship between the above attorneys and the clients of Stea Realty Group absent the execution of a written fee agreement. The above attorneys maintain independent practices with their own professional liability insurance policies which only apply to clients who sign those agreements.