Residential Real Estate Tax Bankruptcy

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Home Sweet Homestead

Suppose a debtor denies owning a home and then gives a false address so creditors don’t find out about the home. Can the debtor still claim the homestead exemption in bankruptcy?...more

Reinstatement of a LIHTC LURA following foreclosure

Note: This post is the final part of a continuing series on the Credit Report Blog on the subject of workouts and bankruptcies involving low-income housing tax credit (LIHTC) projects....more

LIHTC exit strategies: Right-sizing the loan

Note: This post is part of a continuing series on the Credit Report Blog on the subject of workouts and bankruptcies involving low-income housing tax credit (LIHTC) projects...more

Bankruptcy Beat: Public Tax Sale to Pay Unpaid Real Estate Taxes Held to Constitute “Reasonably Equivalent Value” for Fraudulent...

A voluntary or involuntary transfer of property by a debtor for less than “reasonably equivalent value” at a time when the debtor is insolvent may be avoided as a fraudulent transfer 11 USC § 548, irrespective of the debtor’s...more

Real Property, Financial Services & Title Insurance Update: Week Ending February 6, 2015

REAL PROPERTY UPDATE - Service of Process: return of service is not required to expressly list the factors defining the “manner of service” contained in Section 48.031(1)(a), Florida Statutes, not included in the...more

The valuation process for LIHTC projects in financial distress: Part II

Note: This post is part of a continuing series on the Credit Report Blog on the subject of workouts and bankruptcies involving low-income housing tax credit (LIHTC) projects....more

The valuation process for LIHTC projects in financial distress – Part I

Note: This post is part of a continuing series on the Credit Report Blog on the subject of workouts and bankruptcies involving low-income housing tax credit (LIHTC) projects. In a previous post, we wrote about the...more

Delinquent Property Tax Collection: Dancing Around the Automatic Stay

In re Killmer, 513 B.R. 41 (Bankr. S.D.N.Y. 2014) – After reopening a bankruptcy case, a mortgagee moved for a determination that a post-petition delinquent property tax sale was void because it was held in violation of the...more

What are the unique dynamics of a low-income housing tax credit workout?

Note: This post is part of a continuing series on the Credit Report Blog on the subject of workouts and bankruptcies involving low-income housing tax credit (LIHTC) projects. ...more

Low-income housing tax credit workouts and bankruptcies: Understanding the basics

Note: This post is the first in a continuing series on the Credit Report Blog on the subject of workouts and bankruptcies involving low-income housing tax credit (LIHTC) projects....more

To Caesar, Only What Is Due - An Opportunity under § 505(a)(2)(C) for Ad Valorem Taxes?

Plagued with financial uncertainty and inadequate resources, debtors often fail to take the steps that are needed to minimize property taxes in the period leading up to bankruptcy. Tax protests go unfiled and valuations go...more

California Retroactively Extends Mortgage Debt Forgiveness Tax Relief, But Only For 2013

At the end of July, the California state legislature enacted an extension of its modified conformity to federal mortgage debt forgiveness tax relief for 1 year, through 2013. The law allows exclusion of income realized as a...more

Even a Tax Authority May Sometimes Have to Pay

In Clinton County Treasurer v. Wolinsky, 511 B.R. 34 (N.D.N.Y. 2014), a Chapter 7 trustee sought to avoid a property tax foreclosure as a fraudulent transfer and then to recover damages from the foreclosing county. The...more

Property Tax Foreclosure: Tax Authority May Have to Pay for Equity in Property

A chapter 7 trustee sought to avoid a property tax foreclosure as a fraudulent transfer and then to recover damages from the foreclosing county. The bankruptcy court agreed that the transfer was a fraudulent conveyance, but...more

Bankruptcy Court Sheds Light on MA Homestead Protection of Downstream Trust Beneficiaries

Suppose the following: Title to a home is held by Trust A. The beneficiaries of Trust A are three natural persons and Trust B. Trust B holds a 25% beneficial interest in Trust A. The sole beneficiaries of Trust B are Mom...more

Tax Filing By Lender Discharges Borrower From Mortgage Liability

If a taxpayer who has borrowed money from bank defaults on repayment and does not repay the bank, the taxpayer will have cancellation of indebtedness income to the extent that the amount due the lender exceeds the value of...more

Mortgage Debt Forgiveness Survives Fiscal Cliff Settlement

In a last minute – okay, more like a “well after the last minute” deal struck by the US Congress, a key provision protecting borrowers losing their homes was extended for one more year. The Mortgage Forgiveness Debt Relief...more

Foreclosure May Cause Tax Liability

One of the most dreaded things that can happen to you is the foreclosure of your home. This happens when you are not able to keep up the payments towards your mortgage and the bank forecloses your property. As if that were...more

"Cuando el IVA concursa"

Una reciente reforma legal habilita a la AEAT para el cobro de las cuotas de IVA devengadas con motivo de operaciones inmobiliarias realizadas por empresas en concurso....more

"Cuando el IVA concursa"

Una reciente reforma legal facilita a la AEAT el cobro de las cuotas de IVA devengadas con motivo de operaciones inmobiliarias hechas por sociedades en concurso....more

Rev.Pontos de Vista-2011-Real Estate and Companies Bankruptcy

In an interview to the Magazine "Pontos de Vista", I have tried to covered various and actuals topics, ie, the real estate appraisal, subject in focus after the memorandum signed between Portuguese Governement, IMF and...more

Dealing With Your Mortgage Through Bankruptcy: Arizona Bankruptcy Attorney

In Arizona there are few people who aren’t dealing with a home that is worth far less than what they owe on it. I regularly visit with people who owe 50% more than what the home is worth and often have second mortgages or...more

Can Taxes Be Discharged in Bankruptcy?

This article addresses the issue of whether income taxes can be discharged through a bankruptcy filing....more

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