Product Description

Recent updates:

• Update: January 2025

  Dear Subscriber:

  Thank you for updating your library with the 2025 edition of Handling Residential Real Estate Transactions in Massachusetts . This latest version brings updated resources within your immediate reach—for fast, accurate, and practical answers to your questions.

  Highlights from the many issues addressed in this edition include

  • the effect of class action litigation brought against the National Association of REALTORS® on compensation payable to real estate professionals;

  • structuring email and other communications to avoid breach of the attorney-client privilege;

  • notice provisions used in mortgage financing;

  • closing attorneys taking a fee from the client's title insurance premium payment—discussing the position of the Massachusetts Board of Bar Overseers that specific disclosures regarding such fees are required in order to comply with Rule 1.8(a) of the Massachusetts Rules of Professional Conduct;

  • guidance on use and occupancy agreements;

  • case law clarifying when offers or statements may give rise to a binding contract;

  • enactment of the Massachusetts Affordable Homes Act, which established zoning rights for "accessory dwelling units";

  • a recent case under Chapter 93A addressing when a nondisclosure violates the implied covenant of good faith and fair dealing;

  • consideration of per- and polyfluoroalkyl substances (PFAS) in evaluating potential residential real estate transactions;

  • ongoing issues with the implementation of the MBTA Communities Act and the Massachusetts Opt-In Specialized Energy Code; and

  • guidance on the permissibility of cross-border remote legal practice in real estate transactions.

  We trust that you will find this latest version of Handling Residential Real Estate Transactions in Massachusetts an invaluable resource for your busy practice.

  Cordially,

  MCLE Press

Table of Contents

Chapter 01 expand

Requirements for a Trust

Buy Chapter

Frederick D. Royal, Esq., Western New England University School of Law

Chapter 02 expand

Implementing the Trust

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Heather N. Harris, Esq., Day Pitney LLP
Leiha Macauley, Esq., Day Pitney LLP

Exhibit 2A

- Letter to Client Buy Form

Exhibit 2B

- Letter to Transfer Agent Buy Form

Exhibit 2C

- Trustees’ Certificate Buy Form

Exhibit 2D

- Trust and Schedule of Beneficial Interests and Agreement Buy Form

Exhibit 2E

- Declaration of Trust Ownership Buy Form

Chapter 03 expand

Trustee Appointment and Succession

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Dennis R. Delaney, Esq., Hemenway & Barnes LLP
Kurt F. Somerville, Esq., Hemenway & Barnes LLP

Chapter 04 expand

Trustee’s Duties

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Eric P. Hayes, Esq., Goodwin Procter LLP

Chapter 05 expand

Trustee’s Powers

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Eric P. Hayes, Esq., Goodwin Procter LLP

Exhibit 5A

- Sample Language for Holding a Closely Held Business Interest Buy Form

Chapter 06 expand

Trustee’s Liability

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Frederick D. Royal, Esq., Western New England University School of Law

Exhibit 6A

- Receipt and Indemnification Agreement Buy Form

Chapter 07 expand

Trustee’s Responsibility for Investments

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Thomas E. Bator, Esq., Pratt, Bator & Popov LLP
Frederick D. Royal, Esq., Western New England University School of Law

Exhibit 7A

- Ad Hoc Committee Report Buy Form

Chapter 08 expand

Trustee’s Responsibility for Special Assets

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Kevin O'Shea, Esq., Sulloway & Hollis, PLLC

Chapter 09 expand

Trustee’s Responsibility for Real Estate

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Ellen M. Harrington, Esq., Verrill Dana LLP

Exhibit 9A

- Site Review Checklist Buy Form

Exhibit 9B

- Higher Offer Clause Buy Form

Chapter 10 expand

Trust Distribution Issues

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Sarah R. Grandfield, Esq., Bessemer Trust
Suma V. Nair, Esq., Fiduciary Trust Company

Chapter 11 expand

Funding of Marital Trusts

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Jennifer Collins, Esq., Nixon Peabody LLP

Checklist 11.1

- Pros and Cons of Using the Date of Distribution Method When Applying the Pecuniary Funding Formula to a Trust Estate Buy Form

Checklist 11.2

- Pros and Cons of Using the Fairly Representative Method When Applying the Pecuniary Funding Formula to a Trust Estate Buy Form

Checklist 11.3

- Pros and Cons of Using the Minimum Worth Method When Applying the Pecuniary Funding Formula to a Trust Estate Buy Form

Checklist 11.4

- Pros and Cons of Using the Pro Rata Method When Applying the Pecuniary Funding Formula to a Trust Estate Buy Form

Checklist 11.5

- Pros and Cons of Using the Pick-and-Choose Method When Applying the Pecuniary Funding Formula to a Trust Estate Buy Form

Chapter 12 expand

Funding Generation-Skipping Trusts

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Craig A. Standish, Esq., Brown Advisory

Chapter 13 expand

Trustee’s Duty to Account

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Exhibit 13A

- Accounting Provision (Example No. 1) Buy Form

Exhibit 13B

- Accounting Provision (Example No. 2) Buy Form

Exhibit 13C

- Assent Form Buy Form

Exhibit 13D

- Example of a Testamentary Trust Account Buy Form

Exhibit 13E

- Examples of an Inter Vivos Trust Account Buy Form

Chapter 14 expand

Trust Principal and Income

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Ruth A. Mattson, Esq., Verrill Dana LLP

Exhibit 14A

- Report of the Ad Hoc Principal and Income Act Committee Buy Form

Exhibit 14B

- Massachusetts Principal and Income Act (2005 Mass. Acts c. 129) Annotated Buy Form

Exhibit 14C

- Comment to Section 104 of the Uniform Principal and Income Act Buy Form

Chapter 15 expand

Obtaining the Court’s Assistance in Trust Administration

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Thomas P. Jalkut, Esq., Nutter McClennen & Fish LLP

Exhibit 15A

- General Trust Petition for Instructions Buy Form

Exhibit 15B

- General Trust Petition for Declaration of Rights Buy Form

Exhibit 15C

- General Trust Petition for Approval of Compromise Agreement Buy Form

Exhibit 15D

- Amended Report on Bosch Litigation Buy Form

Exhibit 15E

- General Trust Petition for Reformation Buy Form

Exhibit 15F

- General Trust Petition for Allowance of Account Buy Form

Exhibit 15G

- Probate and Family Court Amended Standing Order 3-17: Fiduciary Litigation Pilot Project Buy Form

Chapter 16 expand

Termination of the Trust

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James J. Casiello, Jr., Esq., Goulston & Storrs, PC
Matthew R. Hillery, Esq., Goulston & Storrs, PC

Exhibit 16A

- Revocation of Trust Buy Form

Exhibit 16B

- Receipt, Release, Indemnity, and Assent Buy Form

Exhibit 16C

- Release and Receipt Buy Form

Exhibit 16D

- Assignment and Stock Power Buy Form

Chapter 17 expand

Charitable Split-Interest Trusts

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Martin Hall, Esq., Hall & Diana LLC

Exhibit 17A

- Comparison of CRTs and CLTs Buy Form

Chapter 18 expand

Administering Charitable Trusts

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Evelyn V. Moreno, Esq., Nixon Peabody LLP

Chapter 19 expand

Income Taxation of Trusts and Estates

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Jeremiah W. Doyle, IV, Esq., BNY Mellon

Exhibit 19A

- Example of a 2024 Fiduciary Income Tax Return for a Complex Trust Buy Form

Chapter 20 expand

Trustee’s Duties Relating to Generation-Skipping Transfer Tax

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Richard B. James, Esq., Bank Of America

Exhibit 20A

- Definitions Related to GST Tax Buy Form

Exhibit 20B

- Form 709 for Reporting a Direct Skip Gift Buy Form

Exhibit 20C

- Forms for a Taxable Distribution Buy Form

Exhibit 20D

- Form for a Taxable Termination Buy Form

Chapter 21 expand

Lawyer as Trustee

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Eric P. Hayes, Esq., Goodwin Procter LLP

Chapter 22 expand

Representing a Trustee

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Eric P. Hayes, Esq., Goodwin Procter LLP
Frederick D. Royal, Esq., Western New England University School of Law

Exhibit 22A

- Addendum to Formal Advisory Opinion No. 91-R1, Supreme Court of Georgia Buy Form

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