When multiple people inherit an interest in real property, each is responsible for their share of the ad valorem taxes of the property. What happens if one party fails to meet its tax obligations? What recourse is available...more
While it is true that you most often cannot tell much about a book by its title, the same does not hold true when it comes to real estate, as how title is held to real estate, does tell you a lot. The question faced by a...more
Recently, in Marco Crane & Rigging Co. v. Masaryk, 703 Ariz. Adv. Rep. 29 (Dec. 30, 2014), the Arizona Court of Appeals established that a subcontractor on a residential project has no lien rights against an owner-occupant,...more
After negotiation, execution of the real estate purchase agreement, completion of due diligence and satisfaction of all contingencies, the parties are ready to close the deal. All that remains is to sign the standard closing...more
What can you do when the IRS is misbehaving and it directly affects you?
You will have to fight them, but the law allows you to recover your litigation costs if you win.
As many know, the IRS has had a very...more
As previously reported, AB 1103 is California's energy benchmarking and disclosure law (codified in California Code of Regulations, title 20, sections 1680-1684), that requires owners of non-residential buildings to provide a...more
If you own properties, you should be aware that there are several different rules for reporting rental income, deductible expenses, and gains and losses from the sale of the property, depending on how it is classified. ...more
1. Should Mom and Dad give us the house as a gift now so that they don’t have to “give it to the government” later?
This is a common question that involves technical medical assistance rules. Generally, the best way to...more
Estate planning attorneys regularly advise their clients about the tax and other advantages of transferring real property to irrevocable trusts or similar estate planning vehicles. But they may not consider the potentially...more
Agin v. Dookhan (In re Hultin), 516 B.R. 190 (Bankr. D. Mass. 2014) –
A chapter 7 trustee sought to avoid a transfer of the debtor’s real property using his “strong arm” powers based on an argument that the deed...more
When a seller and a buyer agree upon the terms for the sale of a commercial property the next step is often for the buyer to prepare the first draft of a Contract, which embodies those terms, as well as other customary...more
The government has published detailed proposals for imposing a capital gains tax (CGT) charge on non-UK residents who dispose of UK residential property. The new charge will take effect from April 2015 and will apply to all...more
The Northern District of California recently dismissed RLUIPA claims filed by the California-Nevada Annual Conference of the Methodist Church (the “Conference”) against the City of San Francisco. The case revolves around the...more
REAL PROPERTY UPDATE -
- Harris Act/Inverse Condemnation: dismissal was (1) improper as to landowners’ Harris Act claim because amendments to County’s land use plan were applied specifically to landowners’ property by...more
The Documentary Transfer Tax Act allows each county and city to impose a tax on each deed, instrument, or writing by which any real estate is sold within the county at the time the document is recorded. Assembly Bill No....more
The Pennsylvania Department of Revenue recently released an Information Notice explaining the implications of Act 52 of 2013, which enacted some significant changes to the Pennsylvania realty transfer tax, effective January...more
The Pennsylvania Department of Revenue (DOR) recently issued Information Notice - Realty Transfer Tax 2014-01 (the Information Notice) delivering some good news and bad news about how the new law that became effective January...more
In a recent EPA case, Natural Resources Defense Council, v. United States Environmental Protection Agency, a federal circuit court found against the agency’s decision to allow a product’s registration because of a rounding...more
Understanding South Carolina's real and personal property tax structure involves a trip back to your high school algebra class. Essentially, the amount of tax you owe depends upon three variables...more
With the current estate tax regime of a high gift and estate tax exemption amount and low estate tax rates, transferring wealth is becoming the focus of estate planning rather than reducing estate tax liability. And with...more
In 926 North Ardmore Avenue, LLC v. County of Los Angeles, the 2nd District Court of Appeal held that Proposition 13 changes in ownership prompted by transfers of legal entity interests should also be characterized as “realty...more
The U.S. Environmental Protection Agency has at long last issued a Final Rule which provides clarification to prospective purchasers of contaminated property regarding the standards and practices that are to be used for...more
If you've lived at a property for at least two out of the five years before you sell your home, you can consider that property your primary residence or "main home", per the Internal Revenue Service.
The IRS will then...more
Picayune Rancheria of Chukchansi Indians v. Brown, C074506 (9/24/2014) -
In a recent Third District Court of Appeal published opinion, the court in Picayune Rancheria of Chukchansi Indians v. Edmund G. Brown, Jr. (3rd....more
In May 2013, we reported that the CFPB’s amicus program scored a victory when the U.S. Court of Appeals for the Second Circuit ruled that the sale of a single-floor condominium unit in a multistory building was subject to the...more
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