DMS company Tekion sells Buick-GMC dealership near Calif. headquarters
Gilroy Buick-GMC, about 60 miles from Tekion Corp.’s Silicon Valley headquarters, was one of two stores the firm bought to test its dealer management system technology.
Nissan to retreat on sedans but hang on to ‘Goldilocks' Sentra
Nissan will ditch the Versa after production ends in 2025. The gas-powered Altima will sunset following the 2026 model year and Nissan is undecided on a next-gen.
Florida could legalize marijuana, but people arrested still face tough road
When Kim Johnson was pulled over in April during a traffic stop, she wasn’t worried about the three pot gummies in her purse.
A Treasure Island police officer found them while searching Johnson’s car after ticketing her for driving with a suspended license.
The officer found the slightly melted gummies in a clear plastic baggie and asked Johnson, 47, if she had a medical marijuana card. She didn’t. She figured she might get a fine. Then the officer told her having the gummies in her possession was akin to having Xanax illegally, she said.
The officer charged her with possession of a controlled substance, a felony that could carry a penalty of up to five years in prison. Johnson cried.
Over the last several decades, hundreds of thousands of Floridians have been arrested for having an amount of marijuana that could soon become legal if a proposed amendment passes in November.
Amendment 3 would allow people to possess up to three ounces of recreational marijuana. But even if it passes, the records of those who’ve already been arrested won’t be cleared.
Ask a real estate pro: Seller died days before closing. What can we do next?
Q: After selling our prior home and moving to the area, we are purchasing a home from a lovely couple. A few days before the closing, we were told the husband unexpectedly passed away. While we feel bad for the grieving widow, all of our things are in storage, and we still need a place to live. What are our rights? — Kim
A: Real estate transactions are controlled by the agreement the parties signed. Your first step is to review your contract, paying particular attention to the fine print.
Most contracts will have a clause dealing with this issue, often titled “Persons Bound” or something similar, and say something like, “This contract is binding on, and inures to, the parties and their respective heirs or successors in interest.”
This means that if the owner passes away or even deeds the house to someone else, the heirs or new owner would still be bound by the contract.
It also means that if the buyer were to pass away, their estate would need to complete the deal or risk losing the earnest money deposit.
House-rich, cash-strapped: Advice for older homeowners
By Taylor Getler | NerdWallet
For many homeowners of retirement age, much of their net worth is tied up in their home equity, their home value minus any remaining liens. Home equity makes up 47% of the net worth of a median white homeowner age 62 or older, 81% of total net worth for older Black homeowners and 89% of total net worth for older Latino homeowners, according to the Urban Institute.
If you’re looking for ways to cover expenses after retirement, you may consider converting some of your home equity into cash. “There is no universally ‘best’ source of cash flow in retirement,” says Andy Panko, owner of Tenon Financial in Metuchen, New Jersey, and a retirement income certified professional. But those who hesitate to draw from their home’s well of equity “may be depriving themselves of a great source of cash flow during their retirement years.”
It’s important to think through what you hope to leave behind, if anything. If your goal is to leave your home as a legacy, “you should generally try to avoid having any form of mortgage against the property outstanding when you die” says Panko. However, if this isn’t your main priority, “it could make sense to ‘unlock’ the equity in your home and use it during your lifetime via some form of mortgage.”