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Important terms in a commercial lease agreement

On behalf of Teague & Wetsel, PLLC posted in Commercial Real Estate on

Although this blog has discussed purchase transactions involving commercial real estate in pervious posts, it is important to remember that, for a variety of business and other reasons, many Oklahomans choose instead to lease a property for their business’s use. Like the terms of purchase agreements, the provisions of a lease are important both to a commercial tenant and to the landowner, and they can mean the difference between and good and bad financial outcome for either party. It is for this reason that careful contract negotiation is required when an Oklahoma business chooses to enter a commercial lease agreement. Unlike residential leases, negotiation is the norm when it comes to nailing down the terms of a commercial lease, so prospective tenants should feel no obligation to sign the first agreement a landlord provides to them. Among the key terms

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Can an attorney speed up a disability appeal?

On behalf of Teague & Wetsel, PLLC posted in Disability Benefits on

As pervious posts on this blog have mentioned, many if not most applications for Social Security disability benefits get denied at the initial stages. While sometimes the involvement of a qualified disability benefits attorney can help get an application approved at the outset, in many cases, the reality is that an applicant for benefits is just going to be denied social security and will have to plan on going through an “appeal,” or, more precisely, a review hearing before an administrative law judge. The problem with this appeals process is that it takes a long time to complete. Moreover, during the wait, a disabled person has to continue to live without the help of disability benefits, even if he or she really needs in order to make ends meet. This is so even though a person really does have a

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Help with drafting a commercial purchase agreement

On behalf of Teague & Wetsel, PLLC posted in Commercial Real Estate on

Although buying a piece of land or a building for business use or development is in many respects similar to buying a family home, in other ways, it is quite a bit different and, in many respects, much more complicated. One of the biggest differences between residential and commercial real estate deals is that there is customarily a lot more room for negotiation. This means that Oklahomans and out-of-state investors with property in Oklahoma are more likely to need an experienced and knowledgeable advocate on their side to help them prepare, negotiate and sign a commercial purchase agreement. Our law office has the knowledge and experience required to help our clients navigate through the complicated world of a commercial real estate sale or purchase. Once a prospective property or buyer is identified, we can help our clients prepare the contract

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How else might I be able to fund a nursing home stay?

On behalf of Teague & Wetsel, PLLC posted in Long-Term Care Planning on

Previous posts on this blog have discussed how important it is for many senior citizens in Oklahoma to engage in Medicaid planning. After all, for many people, this is the most reliable and best way to assure that they will be able to get the nursing home or other long-term care that they need in their old age. However, qualifying for Medicaid means a person has to be able to honestly say that they are without means to pay for their own medical care. Unfortunately, not everyone in Oklahoma will be able to count on Medicaid even if they do engage in planning. In other cases, it might not be feasible for a person to dispose of most of their assets and limit their income, as doing so can create other serious legal problems. These sorts of people may have

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We can help young adults with estate planning

On behalf of Teague & Wetsel, PLLC posted in Estate Planning on

A previous post on this blog discussed how young adult Millennials should consider creating an estate plan even if they do not feel like they need one because they have not built up a lot of wealth at this point in their lives. As that post explained though, there are still a lot of estate planning tools and services that could be of great benefit to them. Our law office provides many of these tools and services to young Oklahomans from around the state, and these services help these young adults to prepare for what is hopefully a bright and prosperous future. Of course, although no one wants to think of it particularly in the best years of their lives, these tools can also protect a budding family in the even of an unexpected misfortune. For example, our office can

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When buying a house, make sure you aren’t also buying trouble

On behalf of Teague & Wetsel, PLLC posted in Real Estate Law on

Purchasing a home is one of the most important decisions that you will make. It is a complicated process, and if you are not cautious and careful, you may find that you suffer serious financial implications. When making such an important decision with potentially long-reaching consequences, you would benefit from having experience on your side. Oklahoma home buyers are increasingly seeing the benefits of hiring a real estate law attorney. In reality, this is more than a precaution. It is a direct step in protecting your interests and ensuring that you do not accidentally buy hidden problems with the home. Potential pitfalls of a home purchase  Buying a home involves more than just finding a house that you like and agreeing on a purchase price. Purchase agreements are complex legal documents, and without experience in real estate law, you could

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Why millennials should ‘like’ estate planning

On behalf of Teague & Wetsel, PLLC posted in Estate Planning on

While young adults have long been associated with frivolous spending and a tendency to ignore the state of their general finances, today’s generation of 20- and 30-year-olds — otherwise known as millennials — are breaking the mold. Indeed, having come of age during the recession and endured their own struggles managing considerable student loan debt, many millennials seem to grasp the importance of wise spending and careful saving. As admirable as this is, there is perhaps one area in which millennials — like most other Americans — are lacking: estate planning. Indeed, one 2015 survey revealed that an astounding 60-plus percent of people don’t have a will. While it’s easy to see why millennials would discount estate planning, believing it’s not an option as they’re too young, don’t have a family and/or don’t have major assets, this simply isn’t the

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Overview of Oklahoma’s probate process

On behalf of Teague & Wetsel, PLLC posted in Estate Administration & Probate on

When Oklahomans hear of “probate,” they may immediately think of a big fight involving a loved one’s will. While the term “probate” has a bad connotation for some, the term actually refers to the legal process that most estates, will or no will, have to go through before property can get legally transferred to a deceased person’s heirs. Admitting a will in to probate, which basically means getting acknowledgement that the will is binding and legal document, is only one step in the entire probate administration process. The process, all of which is overseen to some degree by a local Oklahoma judge, starts when the court appoints a person called a “personal representative” to handle the affairs of the estate. Although a personal representative has many responsibilities, he or she basically is in charge of winding up the business affairs

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Major OKC outlet mall changes hands

On behalf of Teague & Wetsel, PLLC posted in Commercial Real Estate on

Two real estate investors have purchased a major Oklahoma City outlet mall from the mall’s developers to the tune of $130 million. The developers indicated they sold so that they could invest in developing other projects in other parts of the country. For their part, the buyers think the outlet mall represents an important opportunity for growth. Through a representative, the buyers noted that the outlet mall has a good corner on the market in Oklahoma City and they were also impressed with the area’s promising demographics. Specifically, the new owners are hoping to develop the stores to attract a lucrative market of Millennial shoppers who are educated and make decent wages. There are currently 90 outlet stores in the outdoor mall, including big names like Ralph Lauren and Nike. The new owners have already chosen a property management company

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We can help veterans get the pension benefits they need

On behalf of Teague & Wetsel, PLLC posted in Veterans' Pension Issues on

Many of our country’s soldiers and sailors who were willing to sacrifice their lives are, quite rightly, eligible for many different types of benefits administered by the federal Department of Veterans’ Affairs. For those warriors who are now retired out of the service or who have been disabled in connection with their military career, government assistance may be a very critical part of their finances such that it would be hard for them to maintain a good standard of living without them. It would therefore be a great misfortune if a veteran, simply because he or she did not know or understand the administrative system or what benefits would be available to him or her, therefore did not get all the help he or she both needed and deserved. In reality, though, the VA is a hard government agency to

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Contact

Teague & Wetsel, PLLC
1741 West 33rd Street, Suite 120
Edmond, OK 73013
Telephone: 405-285-9200
Fax: 405-509-2362
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