Florida Real Property Ownership, Part Two

In last month’s article, I discussed the various ways individuals can hold title to real property in Florida.  These were as tenants in common, joint tenants with full rights of survivorship and as tenants by the entireties.  These estates are the most common but in many cases, they are not the best approach for owners of investment property, rental properties, second homes (in or outside the state of Florida) and foreigners.  In these cases a different approach to ownership should be considered.  Because of the tax and estate issues involved in this discussion, you should always seek professional legal and tax help before choosing how to hold title to these type properties, as no one method is best.

           The most common method for ownership is the use of a trust.  The benefit of trust ownership is that it allows for a transfer of the property outside the estate of the individual owner.  For example, If a husband and wife have a home in New York and by a vacation home in Florida in Boca Raton, when the first spouse dies, the property passes, by operation of law, to the surviving spouse (simply record a death certificate and an affidavit of continuous marriage to clear title).  However, when the second spouse dies, an ancillary administration of the surviving spouse New York estate must be completed in order to clear title.  This is often a surprise to the surviving children, and can delay sale of the property in Florida for months.

           By creating a trust to hold title to the property, this ancillary administration is avoided.  The most common trust is a Revocable Living Trust.  This type of trust allows the settlors to retain the power to cancel the trust or take trust action without permission of the beneficiaries (or the trustee(s) if different than the settlors themselves.  In the scenario above, the husband and wife create a trust naming themselves as the Co-Trustees, and their preferred heirs as the beneficiaries. 

           They also provide a provision that upon the first spouse’s death, the second spouse remains the sole trustee and then upon the last spouse’s death, a successor trustee is appointed (either a friend, relative, attorney or one of the beneficiaries) who then has the powers provided for in the trust.  These powers can be as broad as the original trustees or can be specifically limited, such as requiring the property be deeded to a specific person or charity.  However, no probate of the last spouse’s estate is needed.  To clear title only the recording of a death certificate and a trust certificate with relevant portions of the trust attached is necessary.

           Generally speaking, Revocable Trusts do not infer any tax benefit and provide no creditor rights protection to the settlors.  The property in the trust is deemed the settlors property for tax and creditor claims.  This is because the settlors retain control over the property through the revocable nature of the trust.  Therefore a Revocable Trust is not a good vehicle to protect owners of multiple properties where the risk of tenant lawsuits could result in substantial damage claims.

           Revocable Trusts do provide the ability to protect the trust from the claims of the creditors of the beneficiaries of the trust.  By including a spendthrift clause in the trust, the funds and assets held by the trust that would go to a beneficiary cannot be reached as long as the funds either remain in the trust and the distribution of assets is discretionary to the trustee (and not mandatory). With proper drafting, the funds can be used to benefit the credit risky beneficiary without letting creditor’s reach those funds.

          

           Trust usage does have its drawbacks.  It is an immediate expense to create a trust that may never be used to avoid probate.  It breaks the special creditor’s right protection afforded property owned by husband and wives in Florida.  It does not offer any creditor or tax protection.  Many people create a trust and fail to put all their assets in the trust, which then requires some level of probate.  However, in many cases a trust makes sense, especially if done as part of a comprehensive estate plan.

Michael J Posner, Esq., is a partner in Ward, Damon, Posner, Pheterson & Bleau, P.L., a mid-sized real estate and business oriented law firm serving all of South Florida, with offices in Palm Beach County.  They specialize in real estate trust matters and can assist in advising on and creating trusts.  Mr. Posner can be reached at 561.594.1452, or at mjposner@warddamon.com

Florida Real Property Ownership - Part One

Owning Real Property in Florida may appear simple but in fact it can be a mind field for those in particular situations, such as married couples, older single out of state owners, Canadians (and other foreigners), owners of multiple investment properties, and unmarried couples.  Without proper planning, a wrong decision can lead to unnecessary probates, judgments, tax withholding and other undesired consequences.  The following is a basic primer on estate holding, but it should only be a starting point, and all readers are encouraged to discuss the best method for property ownership with their legal and tax professional.

            The Three Estates:  In Florida, the law recognizes three distinct estates for multiple owners of property.  Two are derived from common law, and the third, tenants by the entireties (TBTE) is distinct to Florida and about half of the states in the US.  The traditional estates are Tenants in Common and Joint Tenants.

            Ownership as Tenants in Common (TIC) means that each owner owns a distinct percentage as stated in the deed.  If not stated, then it is presumed to be equal shares, two owners means each owns fifty percent, four owners means each owns twenty-five percent.  TIC owners can freely convey their interest without affecting the nature of the estate, and upon the owner’s death, their TIC interest passes to their heirs at law.  Creditors can encumber a TIC interest, either voluntarily through a mortgage, or involuntarily through a judgment.  To create a TIC interest in Florida the deed need merely recite the grantee (buyer’s) names, and no statement of interest is required.  For example, John Smith and Dave Brown, grantees, creates a TIC estate.

            Ownership as Joint Tenants traditionally meant that the owners share equally in the ownership of the entire property.  To create a joint tenancy, four specific elements are necessary.  The joint tenants must own an undivided interest in the property as a whole and their share must be equal (TIC owners can have variable ownership). (2) The estates of the joint tenants are vested must be for the same period of time. (3) The joint tenants hold their property under the same title. (4) The joint tenants all enjoy the same rights of possession.  Traditionally, merely stating John Smith and Dave Brown, joint tenants, as grantees, created the Joint Tenant estate.  However, Florida courts have long rejected that rule, requiring magic additional language to create the estate.

            The magic language is “with rights of survivorship” added to the joint tenant language.  John Smith and Dave Brown, joint tenants with rights of survivorship would create the necessary estate.  The main benefit of the joint tenancy is that upon the death of one tenant, the property passes outside of the deceased owner’s estate to the other owner and no probate is required.  Joint Tenancy does not act as a creditors protection scheme and creditors can lien and foreclose a joint owner’s interest.  Joint Tenancy is usually the best option for owners with a common interest through family or for same sex couples.  After death, the recording of death certificate and a non-tax (estate) certificate will generally clear title in the surviving joint tenant.

            The final estate in Florida is Tenancy by the Entireties (TBTE).  This estate must be created with the same conditions as a joint tenancy, but is only available to married couples.  The magic language can be John Smith and Mary Smith, husband and wife, or John Smith and Mary Smith, his wife, Mary Smith and John Smith, her husband, or even John Smith and Mary Smith, as tenants by the entireties.  The TBTE estate has the same survivorship interest as the joint tenant estate but also adds a creditor’s protection that only applies to married couples holding title as TBTE.  For example, a couple owns three rental homes in Florida in addition to their homestead.  If one spouse is sued and a judgment is entered against that spouse, the judgment will not attach or become a lien against the property.  Thereafter, as long as they remain married or the non-judgment spouse survives the judgment spouse, the lien will not attach against the property.  However, if the parties get divorced, or the judgment spouse survives the non-judgment spouse, the lien can attach.

            We frequently see mistakes in planning with TICs created when the new owners, had they known would have either selected a joint tenancy or even a TBTE estate.  Knowing your options and planning when purchasing can avoid these problems.

Michael Posner, Esq., is a partner in Ward Damon a mid-sized real estate and business oriented law firm serving all of South Florida, with offices in Palm Beach County.  They specialize in real estate and can assist sellers and buyers in all real estate matters.  They can be reached at 561.594.1452, or at mjposner@warddamon.com

FIRPTA For Beginners

          Many homes in South Florida are owned by residents of Canada, the United Kingdom, Europe or the Caribbean Islands. When these owners who hold title in their own names go to sell they often run afoul of a federal law known as the Foreign Investment in Real Property Tax Act, commonly known as FIRPTA.  FIRPTA is designed to prevent foreign owners from selling property in the United States and taking their profit home, outside the jurisdiction of the Internal Revenue Service to collect the tax on the gain that is due on the sale.

          FIRPTA works by requiring the buyer (known as the transferee) to withhold ten (10%) percent of the sales price from the seller’s (known as the transferor) proceeds.  For example, of the home being sold by a Canadian with a sales price of $500,000.00 the transferee is required to withhold $50,000.00 from the proceeds and remit same to the Internal Revenue Service within twenty days of closing.  To add real teeth to the law, any realtor or title company involved must also see that the money is remitted or face penalties along with the transferee.

          The biggest issue with FIRPTA in the current world is the requirement of payment of withholding even if the seller has an obvious loss.  For example, if the seller in the transaction described purchased the property in 2004 for $750,000.00, they would have a loss of $250,000.00 and no tax on the sale would generally be due.  Even though they have the loss, they will have to have the money withheld, and the only way to get the money back is to either apply for a withholding certificate or wait until the next year and file a 1040NR showing the loss (which will result in a refund).

          Compounding this problem is the fact that many sellers are partially or wholly underwater.  Typically, a $500,000.00 sale will net a seller only $460,000.00.  If the seller owes more than $460,000.00, the seller will have to bring money to the closing to pay the withholding.  If the sale is a short sale, the seller will have to pay 100% of the withholding to the Internal Revenue Service.  This is money that many sellers simply cannot afford, resulting in more foreclosures.

          There are two exemptions to the requirement for withholding.  The first exemption is for residential sales under $300,000.00.  This exemption is conditioned upon the buyer purchasing the home or a member of their family must have definite plans to reside at the property for at least fifty percent of the number of days the home is used by any person during each of the first two annual periods following the date of sale.  If the buyer will sign an affidavit to that effect, no withholding is required, even of the seller has a taxable gain on the sale.  Please note that even if the exemption is met, the seller is still liable for the payment of any tax due on the sale.

          The second exemption is the acquisition of the seller of a withholding certificate from the Internal Revenue Service setting forth the amount required to be withheld.  This certificate can be applied for at any time before closing.  The application is designed to show the basis for the seller in the property from the original purchase, any increases in the basis for capital improvements, and the amount being realized from the sale after subtracting costs of sale.  This formula is used to show if the seller, as transferor, has any taxable gain.

          If the application (with supporting documents including deeds, contracts, HUD-1 closing statements and receipts) is accepted by the Internal Revenue Service, the transferor can obtain a withholding certificate showing the amount of tax due (often zero) and if obtained before closing, no withholding is required.  If filed before closing, but obtained after closing, the ten percent withholding can stay in escrow with the closing agent and then be released in whole or in part upon presentation of the withholding certificate to the closing agent.

          The FIRPTA withholding is a very costly issue for many sellers.  Next month I will discuss ways to avoid withholding by proper planning when purchasing Florida real estate.

Michael J Posner, Esq., is a partner in Ward, Damon, Posner, Pheterson & Bleau, P.L. a mid-sized real estate and business oriented law firm serving all of South Florida, with offices in Palm Beach County.  They specialize in real estate and can assist foreign sellers in all FIRPTA matters.  They can be reached at 561.842.3000 or at www.warddamon.com

Homeowners Association New Legal Requirements

The new amendments to the Homeowner Association Act went into effect July 1, 2013.  This created new obligations and restrictions for Homeowner Associations and their Board of Directors as follows:

          1.       All Homeowners Associations must register with the Department of Business and Professional Regulation by November 22, 2013.  The format for registration is expected to be available online by October 1, 2013.  Information to be given includes the Homeowner Association’s legal name, federal employer identification number, mailing and physical addresses, the total number of parcels/units, and the total amount of revenues and expenses from the Homeowner Association’s annual budget.

          2.       The new records retention requirements now mirror the existing Condominium Act, including a requirement for records to be maintained for seven years and the records must be maintained within forty-five miles of the community or within the same county.  Homeowners Associations are also allowed to maintain Association records electronically via the Internet or on portable media such as cd-roms or thumb drives in lieu of providing paper copies.  The right to charge for copy costs has been reduced to $.25 per page, and personnel costs for requests that exceed one-half hour or more than twenty-five pages is limited to a charge of $20.00 per hour.

          3.       Each new board member must certify, within ninety days of election or appointment that they have read the governing documents and will uphold them to the best of their ability and that they will faithfully discharge their fiduciary responsibility to the Association or, in the alternative, that they have satisfactorily completed an educational curriculum administered by a division-approved association education provider.  Our firm provides free forms for completion via e-mail request at mjposner@warddamon.com (please put Director Certificate in the subject line).

          4.       All Homeowners Associations must obtain a Fidelity Bond/Crime and Fidelity Insurance. This requirement can be waived by a majority vote at an annual or special meeting of the members in the same manner as other permissible waivers.  No minimum coverage amount is currently set forth in statute, but we are recommending not less than $100,000.00 for small Associations, with larger amounts for large Associations.

          5.       Contracts with Board of Director members must now be approved by a 2/3rds vote of the Board (and excluding the vote of the Director involved), and the vote must include a finding that the contract is both fair and reasonable.  After approval, Board of Directors must disclose the contract at next member meeting.  Any member at that meeting can make a motion to cancel the contract and if cancelled by a majority vote, the contract is void.  Therefore, any contracts signed by the Association must include a termination provision without penalty if the members vote to cancel the contract.

          6.       The new law now prevents officers, directors and property managers from receiving any good or services without payment (or reduced payment) from any third party soliciting or providing services to the Homeowners Association in a way to cut back on kick- backs.  One exception is for meals not to exceed $25.00 as part of a business meeting or items at trade fairs or education programs.  Violation of this new law means immediate expulsion from the violator’s position. 

          7.       Any director or officer charged with a theft of Homeowners Association funds must be immediately removed from office, but if charges are dropped or the person is acquitted they must be reinstated to the same office within the Association.

          The new laws impose greater burdens on Homeowners Associations, in a push to add further condominium like regulations of Homeowners Associations.  Each Board member should carefully review the law to insure timely compliance.

Michael Posner, Esq., is a partner in Ward Damon a mid-sized real estate and business oriented law firm serving all of South Florida, with offices in Palm Beach County.  They specialize in real estate and can assist community associations in all legal matters.  They can be reached at 561.594.1452, or at mjposner@warddamon.com

Foreclosure Update

           2013 has turned out to be a major turning point in real estate and foreclosures, as the long nightmare of 2007-2012 slowly (and in some ways very slowly) comes to an end.  Several key developments have occurred, affecting both homeowners in default and those hoping to sell in the future.

          One drag on the real estate market is upgraders who in the past would have outgrown their homes and bought larger homes, but with so many houses underwater, many owners are trapped in their existing homes.  At one point the total of underwater homes may have been substantially over 40% (and over 50% if you factor cost of sale), but the recent rise in home prices has substantially lowered the percentage of homes underwater. Nationally, the decline is now below 20% of all homes, but Florida lags far behind, with nearly 38% of homes still underwater.

          To address this issue, the government extended the Home Affordable Refinance Program (HARP), which was set to expire this year to 2015.  The program allows many underwater owners to refinance to near record low interest rates despite their lack of equity.  Interest rates have climbed substantially as the broader economy recovers, but even so, a four percent, thirty year loan is still a bargain.

          The biggest change to the foreclosure and housing market was the approval by Governor Rick Scott of House Bill 87 – Mortgage Foreclosures.  The bill provides major procedural and legal changes to the foreclosure market.  The bill was supported by the banks and by most real estate attorneys, but it was opposed by consumer groups and foreclosure defense attorneys. The bill was hotly contested, and had been proposed and rejected in various forms for three years, as foreclosure cases mounted in Florida courts.

          The centerpiece of the bill is the ability of banks to expedite uncontested foreclosures.  Traditionally, a bank would have to serve a complaint, wait twenty days for service, move for and wait to obtain a default, then schedule a summary judgment hearing, which hearing again required an additional twenty days’ notice, and could take ninety days to obtain a court date in front of the foreclosure judge and their bulging case load.  This meant a six to nine month wait to get a sale scheduled, even with no defense tendered by the homeowner.  Once any defense was filed (meritorious or not) the case would get further delayed.

          To reduce this time period, banks will be able to file, with their complaint, a request to the court for an order to show cause why entry of final judgment should not be entered.  The order must be issued if the complaint is proper and thereafter, the homeowner being foreclosed will have no more than 45 days to file defenses to foreclosure.   The hearing on the show cause order is heard no later than 45 days after the complaint is filed, and if the homeowner does not defend the action, or if the homeowner fails to raise “a genuine issue of material fact” final judgment will be entered and the property set for sale.  In addition any party to the lawsuit can institute the show cause procedure, which will allow associations to expedite foreclosures.

          A second change is the finality of mortgage foreclosure judgments, regardless if it is later determined that the judgment should be reversed and the sale set aside.  In that instance the homeowner whose home has been sold at foreclosure, and the property acquired “for value, by a person not affiliated with the foreclosing lender or the foreclosed owner” no longer can recover the home, but can only recover damages for the loss.

          To avoid the contentious and frequently appealed issue relating to ownership of notes and to reestablish lost notes, new procedures will be required to establish ownership at the time the complaint is filed.  This will include either a certification of ownership of the original note or an affidavit regarding the lost note including documentary evidence to support the chain of custody prior to the note being lost.

          One major change in the homeowner’s favor was also adopted.  Previously, banks had five years to pursue a deficiency judgment against homeowners on the difference between the amount owed and the value of the property on the day of the foreclosure sale.  This time period has now been shortened to one year after the foreclosure sale’s certificate of title is issued, which should reduce the number of deficiencies in the long run (though it may cause a short term spike for older judgments due to a pending July 1, 2014 deadline).

          The new law takes effect July 1, 2013, and the changes should be in full affect by the end of the year as lenders gear up to take full advantage of the new act.  For abandoned homes and investor owned properties, the process should now move faster to sale, but for homeowners with legitimate defenses to foreclosure, the change in the law should not prevent the full adjudication of those claims.

Michael Posner, Esq., is a partner in Ward Damon a mid-sized real estate and business oriented law firm serving all of South Florida, with offices in Palm Beach County.  They specialize in real estate and can assist borrowers and banks in all loan and foreclosure matters.  They can be reached at 561.842.3000 or at 

Home Inspections

     Home inspections are one of the most crucial elements of the purchase of any residential piece of real property. This is especially true in the current real estate market where most sales are done on an As-Is basis with the purchaser having a seven to fifteen day window to inspect the subject property and to determine whether they are going to purchase same or cancel the contract and received a return of their deposit(s).

      

     Traditionally, the purchaser would inspect the property and provide the inspection report to the seller who would have to then make repairs contained in the inspection report up to a certain maximum percentage for structural items, appliances and other matters, and a certain percentage for wood destroying organisms. For those who have been in the real estate business for a long time, will remember that the percentages used to be as high as three percent for structural matters and two percent for wood destroying organisms (what used to be called termites).

    Today, the percentages have been greatly reduced with the latest Realtor^®/Bar approved contract limited to one and one-half percent for structural matters and -half percent for wood destroying organisms. Either way, the inspection must be completed timely and presented to the seller to determine whether the seller is obligated to make the repairs assuming same does not exceed the percentage limit contained in the contract. If the percentage limit is exceeded, the seller has the option of refusing to make excess repairs in which case the buyer may walk from the contract or the buyer may accept repairs up to the limit and take the rest of the property in its As-Is condition.

     The inspection itself should be done by a licensed home inspector or general contractor. In addition to the structural components specialized contractors are needed for certain inspection items. For example, you may need a separate pool contractor to inspect the pool and spa. You also need a licensed pest inspector to conduct the pest, fungi and mold inspection. Many home inspectors have multiple licenses which provide one-stop shopping for structural, wood destroying organisms, pools and mold inspections.

     Mold inspections are now a new area that has arisen as a result of a better understanding of the effects of mold on people, especially in homes that are heavily air-conditioned and that rarely have their windows opened. Mold can occur from a variety of leaks including plumbing leaks as well as a leak in the ice cube/water line to the refrigerator. Also a home that has too large an air-conditioning system for its size will also likely develop a mold condition. Wherever there is moisture there is the potential for mold and is important for the inspection to carefully address this issue. If a mold condition is detected a further air-quality test may be necessary to determine the type of mold, the risk to occupants and the method for post leak stoppage remediation.

      Human since inspectors are only human, and further since many limit their liability to the cost of the inspection it is important that you act as your own inspector when purchasing a home. This means turning on all faucets, flushing all toilets, examining all vents for mold and airflow, testing all appliances and the air-conditioning system and using anything else in the home to determine whether or not it functions normally. I also suggest you look up. Many a homeowner has sat on a toilet in their new home finally look up and see evidence of a water leak that was missed by the inspector and everyone who came into that bathroom. You should also challenge any recent repairs. Under Florida law the seller is obligated to provide you with a copy of any past repairs or service on within the last year.

     A home inspection is one of the most important parts of your home purchase. Using a reputable home inspector is a key to finding out the condition of any home that you are considering purchasing. If you fail to get a proper inspection the only person you have to blame is yourself.

Michael Posner, Esq., is a partner in Ward Damon a mid-sized real estate and business oriented law firm serving all of South Florida, with offices in Palm Beach County.  They specialize in real estate law, and can assist buyers and sellers in all real estate matters.  They can be reached at 561.842.3000 or at www.warddamon.com 

Emotional Support Animals in Community Associations

          Condominium and Homeowners Associations which ban or limit the size of pets are under increased attack by homeowners strongly desire to bring fluffy or killer, a 60 pound pit bull into their homes in violation of established of the Association. Traditionally it was not difficult for Association to ban these types of pets and to obtain court injunctions requiring removal and recovery of attorney's fees and costs. However, in recent years, a new strategy has been developed by homeowners to keep their strongly desired pets by utilizing two  sets of laws which may make it impossible for Associations to continue to ban or limit pets.

          The first law, the Americans with Disabilities Act, requires associations to make a reasonable accommodation for disabled people who need service animals to assist permanently disabled people in their daily lives. This is a very common need and the law is strongly established in favor of allowing disabled people to keep their service animals in Association property regardless of any restrictions provided in the regulations of the Association. This is typically, for example, the need of a blind person to have a Seeing Eye dog. These types of accommodations must be made and associations have limited recourse to ask questions about the disability or the animal’s qualifications to serve as a service animal.

          Physically disabled persons with the need for service animal are not the issue in question. Instead, it is a question of a mental disability or emotional disability that is now the basis for an alleged need keep an animal in the home.  The Fair Housing Act, a federal law with a similar Florida-based law states that associations must make reasonable accommodations to assist disabled people in residing within their community. Based on these laws, homeowners have sought the right to keep pets to assist them with their emotional and or mental problems claiming that these animals are Emotional Support Animals and not just pets.

          Associations are being presented letters from mental  health specialists or physicians claiming that Fluffy or Killer is necessary for the mental or emotional health of the homeowner. The homeowner then presents the letter to the Association and demands a reasonable accommodation to allow the pet to reside in the community even though the association bans or limits the size of pets. 

          The biggest problem facing Associations who do not want to allow any pets or pets that exceed the maximum weight permitted at the Association is the question of whether the requesting homeowner is truly in need of medically based mental or emotional support which can be provided by an emotional support animal. For example, you can spend $114 over the Internet and obtain an emotional support letter from Chilowee Psychological Services. Simply answer a few questions and out pops your letter.  Given the easy ability to obtain a letter many Associations have adopted a comprehensive package of documents, solely for the purposes of weeding out the truly disabled from those seeking to game the system solely to get a pet.

          In Sun Harbor V. Bonura, the Florida appellate court in 2012 held that in order for a homeowner to prevail on a denial of allowing an emotional support animal, the following tests must be met: (i) the homeowner must have a handicap;  (ii) the Association must have knowledge of  the  handicap;  (iii)  that  an   accommodation  may  be necessary to afford the homeowner an equal opportunity to use and enjoy the dwelling; (iv) that the accommodation is reasonable; and (v) the associations refusal to make the requested accommodation.  Ultimately, the Appellate Court found that the homeowner did not meet the required tests because the handicap was not sufficiently evident to require the support for the need for the pet , and the letter from the professional did not give enough information to the Association to understand the basis for the handicap or the need for accommodation.

          When confronted with a request for accommodation, Associations must also keep in mind the need to limit excessive requests for information.  A recent federal decision in the Middle District of Florida (Bhogaita v. Altamonte Heights Condominium Assn., Inc.) the court granted partial summary judgment to the pet owner on the grounds that the associations multiple, detailed requests regarding the homeowners mental and physical conditions far exceeded that permitted under the Federal Fair Housing Act.  Simply put, one (or possibly two) detailed requests should be sufficient for the Association to determine whether and accommodation is required and challenging the physician repeatedly for more information will not likely be permitted.

          Based on the foregoing, Associations should be proactive in adopting emotional support animal policies and procedures (before the next request) that requires, but is not limited to, an application, and an affidavit from a licensed person as part of any approval process of an emotional support animal. Failure  to properly accommodate disabled persons can lead to an expensive and time-consuming lawsuit, as well as recovery of attorney's fees and costs . 

Michael Posner, Esq., is a partner in Ward Damon a mid-sized real estate and business oriented law firm serving all of South Florida, with offices in Palm Beach County.  The firm represents numerous Associations and can assist in adopting emotional support procedures for their clients as well as all other Condo and HOA matters.  They can be reached at 561.842.3000, on the web at www.warddamon.com and by e-mail at mjposner@warddamon.com  

---