CLIFFORD A. MONAC, P.C.
Commercial and Residential Real Estate
Whether you are buying your first home or your first business/investment property, coordination and preparation are critical for a smooth and successful closing process. Management becomes essential when a current home owner needs the money from the sale of their existing home to fund the purchase of a new home. Careful preparation and a comprehensive understanding of the process can remove risk and greatly increase the likelihood that all will go as intended. Involving a real estate attorney to negotiate the deadlines in the purchase and sale agreement can be a great help. I have represented thousands of buyers and sellers of primary residences, second homes, vacation homes and business properties. My experience can be of great value to buyers and sellers from the early stages of the process, protecting you against risks that occur when buying real estate.
Many individuals and businesses enter into contracts on a daily basis without knowing the full scope and ramifications of the agreements. If you are in a service business, it is important to have contracts outline what services you provide and exactly what you are responsible for. A simple but properly drafted contract goes a long way toward protecting your rights. Conflicts often arise from lack of understanding or vagueness about what the customer expected and paid for and what you agreed to provide or delivered. A service contract is a powerful tool that can be used to protect your name and assert your rights and avoid costly litigation. If a dispute does go to litigation, a proper and well-crafted contract can often mean the difference between being awarded a judgment and losing your case.
If you sell goods, you will have contracts with vendors and/or your customers. Similar to service contracts, these goods contracts protect both parties as they outline a mutual understanding of the respective obligations and rights of each. If you are in a retail business, you want to ensure that you have a clear return policy to protect your business from unwarranted returns or attacks from consumers on unfair practices.
I will prepare documentation that clearly and properly reflects your understanding of the transaction to protect your interests. In many instances, we can create customized templates for transactions that will or are likely to repeatedly occur. It will then be easy for you to prepare similar documents on your own in the future, saving on your legal fees.
I am also here to review your documents or prepare new ones that require special attention.
Starting a business is always a high-stakes venture, whether you are starting from scratch or reorganizing an existing business. I have the experience to guide you carefully through the process.
The choice of a legal entity for your business can have a major impact on how the business is governed and the tax obligations of both the business and its owners. The following are some major types of business entities that can be formed under Massachusetts and federal law:
Subchapter C corporation
Subchapter S corporation
Professional corporation (PC)
Limited liability company (LLC)
Limited liability partnership (LLP)
Limited partnership (LP)
I will help you select the entity that is appropriate for the objectives and ownership structure of your business. I also assist out-of-state and international entities that wish to do business in Massachusetts with the required registration procedures.
Once your business entity is established, it may be required to adopt bylaws and conduct regular meetings. If there are multiple owners, it is also generally advisable for the owners to enter into a shareholder agreement, operating agreement or partnership agreement.
I will guide you through all aspects of the business entity governance process.
Limited Liability Company
I assist clients in identifying and developing relationships with compatible businesses. Once identified, I negotiate and draft agreements with potential partners that highlight and enhance the relationship of the parties, anticipating potential problems and issues and address them ahead of time to minimize the impact of any separation or breach.
I am experienced in the formation of limited liability companies ("LLCs") that offer liability protection and partnership tax treatment with the benefit of great flexibility to tailor the structure to the unique needs of each business deal and its principals. LLCs are used as operating entities, holding companies, for specific business deals, or for real estate ventures.
Hours: Mon - Fri 9am - 5pm
Concentrating in Residential Real Estate Transactions.