Thomas, Collison, Meagher is comprised of dedicated legal professionals that are well-versed in many specialized areas. We are committed to working closely with our clients, making certain that all of their needs and concerns are addressed. Our Attorneys bring a diverse background to the table, allowing us to advocate for you in many areas of law. This gives Thomas, Collison, Meagher an edge when dealing with complex legal matters. Often, when more than one area of expertise is required there is no need to hire a multitude of attorneys. We can provide you with comprehensive legal support in many areas.
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Residential and Commercial Real Estate Transactions
Wills, Trusts and Estates
For over fifty years, Thomas, Collison and Meagher has been assisting sellers, buyers, developers, investors, lenders, municipalities and other interests in a full range of Commercial and Residential real estate transactions that take place throughout the Southern Tier region of New York and the Northern Tier of Pennsylvania.
We recognize that every transaction is different and has particular needs. Our attorneys are assisted by experienced paralegals, who strive to move your matter to a successful and timely closing. A residential real estate purchase or sale can be a stressful time. We believe by building a relationship with each of our clients, we can best serve our clients’ needs.
Real Estate encompasses the sale, purchase, mortgage financing, refinancing, development and use of real property. The attorneys and paralegals provide assistance in all phases of a real estate transaction, from preparing or reviewing contracts, to ensuring "clear title", representing you at the closing, and in matters concerning zoning and real property tax assessments and grievances. In addition, real estate includes commercial development, land use restrictions, easements, and leases for both landlords and tenants.
We help buyers and sellers throughout the Closing process, from the signing of the contract to the delivery of the deed at the Closing table. We help review our clients' contracts and mortgage commitments, negotiate inspection issues, update or examine abstracts of title, and settle and attend the Closing with our clients.
Our extensive experience ranges from basic to complex real estate transactions, including:
· Purchase and Sale of Commercial and Residential Real Estate
· Real Estate Development
· Bank and Other Lender Financing
· Commercial and Residential Leases
· Deed Restrictions
· Municipal Land Use/Zoning Issues
· Easements/Licenses and Partitions
As examining counsel for Westcor Title Insurance Company, we can also arrange for issuance of title insurance for both lenders and owners.
There are two types of Title Insurance that can be provided during the closing process.
(1) Mortgagee (Lender’s) policy of Title Insurance. This Mortgagee policy insures only the lending institution’s interest in the property from claims arising from defective title. Examples of such defects are forgeries, unrecorded documents, invalid records, and easements, right of ways, mortgages, liens and claims of ownership including boundary line disputes. The Mortgagee policy does not insure your investment or equity in the property.
(2) Fee (Owner’s) Policy of Title Insurance. A Fee Policy of Title Insurance will pay for defending against any lawsuit attacking the title as insured, and will either clear up title problems or pay the insured's losses. A Fee Policy of Title Insurance policy remains in effect as long as the insured, or the insured's heirs, retain an interest in the property, or have any obligations under a warranty in any conveyance of it. Fee (Owner's) Policy of Title Insurance, issued simultaneously with a Mortgagee policy, is the best title insurance value a property owner can get.
Thomas, Collison & Meagher are agents for Westcor Title Insurance Corporation as it's title insurance underwriter. We can assist our clients in obtaining a mortgage title insurance policy that is required by the lender and an owner's title insurance policy for themselves. We also conduct our own title searches in house to expedite the closing process.
Title insurance premiums are regulated by New York State. To view current title insurance rates, please visit www.ratecalculator.fnf.com.
Limited Liability Company
We regularly counsel and assist clients who desire to form limited liability companies and other entities for real estate ventures and financing, including advice on the business and tax implications of such entities, the mechanics of their formation and operations, and the maintenance of proper records for such entities.
Financial Lender Representation
We regularly advise and represent lenders in finance transactions secured by mortgages on both residential and commercial real estate. We also have experience in all issues relevant to commercial real estate finance.
Thomas, Collison and Meagher offers comprehensive estate planning services and expertise in all aspects of estate and tax planning and the administration of estates and trusts. We are committed to developing plans specifically tailored to best meet each client’s unique needs. We have extensive experience in preparing a variety of estate planning documents, such as wills, revocable living trusts, irrevocable trusts, special needs trusts, charitable trusts, and powers of attorney. We also assist in planning for medical treatment decisions through the preparation of health care proxies and living wills. Our attorneys can also counsel clients on the estate, gift, and generation-skipping transfer taxes and develop a plan to minimize these taxes to help ensure that assets will pass consistent with each client’s wish.
Our practice provides counseling and guiding executors, administrators, and trustees in the many decisions to be made in planning and administering an estate or Trust by guiding fiduciaries throughout the entire administration and settlement process.
As a small firm we provide the personal, individualized attention with the skill, professionalism and quality that larger practices may not be able to provide.
Our specific services include:
Our Elder Law is a significant part of our practice concentrating on educating and informing clients of their financial and health care decisions and the uses of durable powers of attorney, living wills and health care proxies, trusts, wills, and long-term care insurance. Our attorneys have vast experience with the laws and regulations that impact this area of law.
In addition, we provide a large array of estate planning and transfer planning services specially designed for elderly clients and clients with special needs or disabilities. In developing a plan, we also evaluate the estate tax exposure and encourage flexible planning which will be effective in any situation our clients or their estates may face.
We assist clients and their families with long-range planning for disability and with the practical details of long-term care, if that becomes necessary. We counsel clients on asset protection planning, including Medicaid planning and qualification.
Thomas, Collison and Meagher is sensitive to the emotional, medical and financial needs of our clients and their families, particularly in crisis situations when an elderly client is no longer able to live independently due to physical or mental reasons, yet wishes to retain as much personal authority as possible and be assured of a high quality of life. We strive to give clients confidence in and control over their future.