As an office specializing in real estate in general and the urban renewal industry in particular, real estate taxation is at the heart of our professional practice. Whether it is a TAMA 38 transaction on an issue, whether in the process of PINUY BINUY or other real estate transactions, the taxation aspect is of tremendous economic importance to the client. A means to save real estate tax costs for him, sometimes by way of total exemption from the payment and in other cases, by way of a tax deduction, including by submitting an appeal on the level of assessment given to the customer.
Aviv Tasa’s law firm is a real estate boutique firm that has chosen to specialize in a specific and unique industry in order to provide first-class legal advice and representation. We bring to the table great knowledge, multiple professional experience, courteous and patient service. Therefore, every customer who comes to our door receives the full attention and the best personal and professional service.
As Part of Representing Clients in TAMA 38 Proceedings, We Address the Following Issues, Among Others:
TAMA 38 Agreement
The importance of the agreement in the TAMA 38 process cannot be overlooked and the more comprehensive, detailed and clear the smaller the chances of disputes between the parties and the greater the likelihood of a smooth and efficient conduct of the project.
The Transactional Exchange of the parties involved:
Apartment owners receive a larger, renovated apartment in a renovated residential building which is resistant to earthquakes. The developer receives building rights to build new apartments that he will sell in the free market.
The Schedule for Construction Work:
Setting deadlines for the work at each stage and setting a mechanism to compensate the apartment owners when late in the schedule.
The developer will provide the apartment owners with guarantees and collateral to ensure fulfillment of his project obligations.
Giving the Right to Cancel the Agreement:
Implementation of TAMA 38 is dependent on third parties such as the local authority and should therefore include clauses that give both parties the right of cancellation when the economic viability of the project is materially impaired due to failure to provide the appropriate permits.
TAMA 38 Lawyer - Dealing with a Reluctant Tenant
To those who regularly represent TAMA 38 proceedings, we come across tenants who oppose the implementation of the project. This substantially delays the process. We believe in immediate treatment of this situation and as a first step, we will be given an opportunity to discuss and compromise. We have learned that in many cases the reason for the refusal is due to lack of information and after answering all questions and concerns, the landlord removes his objection. If it is an illegitimate refusal such as a neighborly conflict causing the deceitful behavior of the reluctant tenant, we use the legal tools the law provides Beginning with an appeal to the court and to file a compensation claim against the reluctant tenant.
TAMA 38 Attorney - Contact with the Tenants' Representation
In all of the TAMA 38 procedure, tenants’ representatives are appointed, who believe in representing the interests of all the apartment owners. To act individually with the various parties, which will not allow the implementation of the TAMA 38 procedure effectively. When representing the landlords, we are at the disposal of the delegate with every question and problem and constitute the factor that links it with the developer. Also, when a dispute arises between the members of the delegation, we endeavor to help as much as possible to resolve the disagreements in order to allow the delegation to proceed effectively and in an orderly manner. When representing the developer, our firm makes sure to regularly update the delegate responsible for contacting us, whether in the construction process, or in schedule changes, etc., all for the sake of efficient and smooth process management.
This article was written by the law firm of Aviv Tasa.
Aviv Tasa Real Estate Lawyer, Real Estate Taxation and Urban Renewal.
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