During the increase in buyer demand for properties in the Hamptons market, in addition to bidding wars, cash deals, and buyer financing after closing on the property, situations arose that placed another demand on buyers: the condition of the sale that allowed the seller to remain in occupancy beyond the transfer of title to the buyer.

An important step of estate planning is to designate beneficiaries: the person or entity who will receive part of your estate upon your death. A beneficiary can be named on a will, trust or through an agreement with your bank, financial institution or life insurance company. This is called a “Payable on Death” or “POD” beneficiary or “Transfer on Death” beneficiary

Buying a home on the North Fork. An important element to take into account when buying real estate is to ensure that the property has a clear title. This means that there are no issues that may cloud the title. Potential title issues can be a boundary concern, an encumbrance, easement, a legal dispute, lien, an estate issue, forgery, or errors on the recorded deed.

Buying a home on the North Fork. What are the seasonal rental laws? Additionally, buyers might need to become familiar with local zoning laws, flood zones, waterfront property legalities, historical designation, and potential boundary issues before engaging in a real estate transaction.

If you are thinking about updating your estate plan, this may be a good time to get your digital assets in order too. If you are active in social media or access your bank account or your memberships online it’s worth looking into how to ensure you keep your username and password information safe.