News


Attention: Pittsburgh Area Owners/Managers of Commercial Real Estate

A recent court ruling mandates the reassessment of real estate that is either significantly under or over assessed. Given this development, it may well be that you could realize a tax savings if you appeal the tax assessment of your commercial real estate for the coming year. As a firm with 30 years of concentrated experience in real estate and commercial law, Papernick & Gefsky is prepared to guide you through the appeal process should you feel your commercial property has been over-assessed. We do not charge a fee to file a tax assessment appeal unless we are able to obtain a tax reduction for you, in which case we receive a percentage of the tax savings as our professional compensation. If you have an interest in filing an appeal and would like more information on how we can be of service, feel free to call any of our Firm's lawyers.

Decennial Reporting with the Corporation Bureau

ACT 43 of 2000 has altered the requirements of the Decennial Filing. The Decennial Filing deadline has been delayed from December 31, 2000 to December 31, 2001. In addition, Fictitious Names are no longer subject to the Decennial Filing.

Should you need assistance in complying with this important filing requirement, please contact Beth Ann Clarke at 412/765-2212, or feel free to call any of the Firm's lawyers if we can serve you inconnection with any of your other legal needs.

Changing Laws Regarding Power of Attorney

The Pennsylvania Legislature recently enacted a law which makes major changes to the requirements for a valid Power of Attorney in Pennsylvania. The new law amends Chapter 56 of the Pennsylvania Decedents, Estates and Fiduciaries Code, and became effective, as to some of the amendments, on December 11, 1999, and will be effective, for most of the amendments, as of April 12, 2000.

One significant example of the revisions made by the Legislature is that the person who serves as the "Agent" under the Power of Attorney (which is the person that was formerly called the "Attorney-in-fact") must now execute the Power of Attorney. There is also new language that must be included in the Power of Attorney to make it effective as to certain conveyances, such as gifts.

Should the need for a Power of Attorney arise, please call Diane Pizzuto at (412) 373-2212. Or, please feel free to call or e-mail amy of our Firm's lawyers if we can serve you in connection with a Power of Attorney or any of your other legal needs.