Buying a home in the U.S. Virgin Islands can be a time-consuming process. However, home ownership can also be very rewarding. The purchase of a new home is often times the largest single purchase that an individual will make in their lifetime. Consequently, the right amount of planning and preparation can reduce your stress and make for a comfortable transition into your new dream home in the U.S. Virgin Islands. Buyers, especially first time buyers, need to be sure to ask the right questions about potential properties and make careful financial decisions leading up to the home purchase. Most importantly, buyers should obtain professional assistance from the outset to make for a smooth transaction.

Continue Reading Ten Tips For Prospective Home Buyers

 

The Board of Directors of the Fellows of the American Bar Foundation has elected Virgin Islands Attorney Tom Bolt, Managing Attorney of the St. Thomas firm of BoltNagi PC to serve as State Chair  for the United States Virgin Islands. The Fellows is an honorary organization of attorneys, judges, law faculty and legal scholars who have been elected by their peers for demonstrating outstanding achievements and dedication to the welfare of their respective communities and to the highest principles of the legal profession.

Continue Reading American Bar Foundation Appoints Virgin Islands Attorney State Chair

The St. Thomas law firm of BoltNagi PC is pleased to announce that Attorney Ronald R. Pennington has joined the firm and serves  as Chair of the Real Estate & Financial Practice Group, he specializes in commercial real estate, real estate development, corporate transactions, finance and banking.

Continue Reading Real Estate Attorney Pennington Joins St. Thomas Law Firm

 

One of the areas of practice for BoltNagi PC is commercial and residential mortgage foreclosure law.  Although the substantive law governing commercial and residential mortgage foreclosures is virtually identical, commercial borrowers have an important advantage over residential borrowers:  If a commercial borrower is facing foreclosure, it can seek out new investors or a “white knight” to get it out of trouble.  Residential borrowers don’t generally have that option.

Continue Reading “White Knights” for Residential Mortgage Workouts

The St. Thomas law firm of BoltNagi PC is pleased to announce that Attorney Lisa Michelle Kömives has joined the firm as an Associate Attorney in the Litigation Practice Group. Her practice concentration is complex commercial litigation including insurance coverage. Prior to joining BoltNagi PC, Lisa was an Associate with Akerman Senterfitt in Miami, Florida where she specialized in insurance coverage class actions and breach of contract litigation.

 

Continue Reading St. Thomas Litigation Attorney Komives to Practice Law at BoltNagi

Tom Bolt, Managing Attorney of BoltNagi PC on St. Thomas; Yvonne Tharpes, Counsel to the 28th Legislature, of St. John, and Lisa Harris Moorhead, Virgin Islands Code Revisor, of St. Croix, were among the 260 practicing lawyers, governmental lawyers, judges, law professors, and lawyer-legislators participating in the 2010 Annual Meeting of the National Conference of Commissioners on Uniform State Laws (NCCUSL), which recently concluded in Chicago Illinois.

 

Continue Reading Virgin Islands Uniform Law Commissioners Participate in National Conference

 

As we all know, questions concerning death and disability are sometimes difficult for many families to discuss. However, individuals must address these issues in advance to ensure that their family members are in a strong position to deal with illness and death. Consider these vital questions, for starters:

Continue Reading The Importance of Estate Planning

 

After the January 12, 2010 earthquake in Haiti, the U.S. government designated Haiti for temporary protected status (TPS) for a period of 18 months. Under section 244(b)(1) of the Immigration and Nationality Act, the Secretary is authorized to designate a foreign state for TPS upon finding that such state is experiencing an ongoing armed conflict, an environmental disaster, or other extraordinary and temporary conditions. 

Continue Reading Deadline for Haitians to Apply for Temporary Protected Status Approaching

A recent decision by the United States Supreme Court has resolved a long-standing ambiguity in the statutory requirements for determining the citizenship of a corporation for the purposes of invoking the diversity jurisdiction of the federal courts. 

In Hertz Corp. v. Friend 30 S. Ct. 1181, 175 L. Ed. 2d 1029 (2010), the Supreme Court identified two principal approaches to determining corporate citizenship for diversity purposes:  the locations of a corporation’s “business activities” versus a corporation’s “nerve center,” which might or might not overlap with the corporation’s nominal headquarters.  See id. at 1190-91.  But, despite the Court’s efforts, the shifting nature of the modern business place might reduce Hertz to a mere way-station on a longer journey.

Continue Reading Supreme Court Gives Direction on Corporate Citizenship

As part of the Federal 2009 Economic Recovery Tax Law, taxpayers, including U.S. Virgin Islands residents, could be entitled to two tax credits on your 2009 federal income tax return, the “Making Work Pay Credit” and “Government Retiree Credit”.

Continue Reading Have You Received Your “Making Work Pay” Credit?