Real Estate Transfers

News & Analysis as of

Business Succession Planning - February 2016

The transition of a family owned or closely-held business is a significant undertaking even with the best laid plan. This article will outline the issues that should be considered by the business owner in transitioning a...more

Are You My Brokers? The Evolving Legal Status of the Real Estate Salesperson

Under the Real Estate Law that governs the regulation of brokers and salespersons by the Bureau of Real Estate, a salesperson is theoretically subject to supervision and control at all times by the broker that employs the...more

FIRPTA Withholding Tax Rate to Increase 15 Percent on February 2016

On December 18, 2015, the Protecting Americans from Tax Hikes Act (the Act) was signed into law. Among other items, the Act materially amends the Foreign Investment in Real Property Tax Act of 1980 (FIRPTA) to increase the...more

New rules for transferring shares in Russian limited liability companies and immovable property

On 29 December 2015, Federal Law No. 391-FZ, which introduces new rules for transferring shares in LLCs and immovable property ("Law"), was signed. Some of the relevant changes are summarised in this alert. ...more

Tax Considerations in Real Estate Dispositions

In a typical real estate transaction, the seller deeds the real property to the buyer. This transaction is simple and straightforward for both buyer and seller. Although it is simple, is it the best structure from a tax...more

Court Of Appeal Finds Indemnity Includes First Party Claims

Three years ago, I wrote this brief post about how to interpret an indemnity claim. I wrote that post to remind readers that the California Civil Code not only defines “indemnity”, it provides a series of interpretational...more

Estate Did Not Own Real Estate Because Court Affirmed Finding Of Inter Vivos Oral Gift Of Real Estate

In the Estate of Wright, the court of appeals affirmed a trial court’s finding of an oral gift of real estate. No. 14-14-00401-CV, 2015 Tex. App. LEXIS 12644 (Tex. App.—Houston [14th Dist.] December 15, 2015, no pet....more

New Way to Avoid Probate on Real Property

Probate avoidance is a primary consideration for estate planners and their clients. A revocable trust is usually the vehicle of choice for making nonprobate transfers, but alternatives have always existed for personal...more

California’s New Transfer on Death Deed

As of January 1, 2016, California law allows the use of transfer on death (TOD) deeds for real property. A TOD deed is a revocable beneficiary deed, involving the transfer of an individual’s residence (limited to multi-unit...more

Five Considerations Before Selling a Vineyard or Winery

Whether to sell a vineyard or winery is one of the most significant decisions an owner will make. There are financial, career, lifestyle, and other factors that go into the choice, and the calculation is different for each...more

New Flexibility for Joint Ventures Using Tax-Exempt Bond-Financed Property

On October 26, 2015, the IRS released final regulations under Sections 141 and 145 of the Internal Revenue Code concerning the use of property financed with tax-exempt bond proceeds. The bulk of the new regulations fill a...more

City of Chicago to Tax Assignments of Mortgages

Recently the City of Chicago’s Department of Finance issued Real Property Transfer Tax Ruling #4, which clarifies the intent of the City’s Real Property Transfer Tax. The ruling details the application of the exemptions to...more

California’s Secured Promissory Note Exemption

The line between real property transactions and securities transactions is not always clear.  California Corporations Code Section 25100(p) provides an exemption for a promissory note secured by a lien on real property...more

A Quick Refresher on the Tax Consequences of Condemnation

Most of us are at least vaguely familiar with the tax on gains from the sale of property. Many of us know that when property is sold voluntarily and the funds re-invested, the gain may be deferred under Internal Revenue Code...more

Buyers of Mississippi Real Property Relieved of Liability For Nonresident Seller Tax Withholding

The responsibility for withholding, reporting, and paying tax on the gain realized on the sale of real property by a seller who is not a resident of the State of Mississippi is now back where it belongs: with the seller. ...more

Warning: Warranties Can Survive Close of Escrow Even When You Think They Won’t

As the seller of real property, you might have heard: “Don’t worry, that warranty won’t survive the closing.” Or, you may have assumed that because the purchase agreement stated that certain representations and warranties did...more

Can An NC Superior Court Judge Modify Another Judge's Classs Certification Order?

Is the certification of a class by an NC state court set in stone or can it be modified during the course of the litigation? The federal rule vs. the state rule - There is a difference between the federal rule...more

Brazilian House of Representatives Will Expedite Vote to Ease Restrictions on Acquisitions and Leasing of Rural Properties by...

On September 16, the House of Representatives of the Brazilian Congress approved a request to consider legislation on an expedited basis which would ease certain restrictions imposed under existing law on the acquisition and...more

Wealth Management Update - September 2015

September Interest Rates for GRATs, Sales to Defective Grantor Trusts, Intra-Family Loans and Split Interest Charitable Trusts - The September § 7520 rate for use with estate planning techniques such as CRTs, CLTs,...more

Florida Tax Issues in Commercial Real Estate and Related Financing Transactions

Florida has long been known as a tax friendly state for retirees. The "Sunshine State" has no income tax on individuals and no estate taxes. The state has quite a different reputation for commercial real estate investors who...more

Indiana Tax Court Upholds Residential Land Value

On September 9, 2015, the Indiana Tax Court upheld the Indiana Board of Tax Review’s decision affirming an assessor’s residential land valuation. In Cooper v. Allen County Assessor, Homeowners argued that the March 1, 2012,...more

Are All Fraudulent Transfers Unfair or Deceptive Acts?

Courts almost always treat fraud claims as per se (automatic) violations of N.C. Gen. Stat. § 75-1.1. Does that mean that fraudulent transfers of assets, likewise, automatically support recovery under section 75-1.1?...more

Important Tax Provisions of Extended Highway Trust Fund Act

The “Surface Transportation and Veterans Health Care Choice Improvement Act of 2015? (P.L. 114-41, “the Act”) became law on July 31, 2015. Designed as a 3-month extension of the Highway Trust Fund and related measures, the...more

Potential Changes to Long-Term Care Licensure in Massachusetts

Regulations proposed by the Massachusetts Department of Public Health (“DPH”) may significantly change the procedure for state approval of nursing home sales and closures. Following public scrutiny around state inspection...more

NLRB Forces Buyers To Become “Successors” Against Their Will

While all eyes were on the landmark Browning-Ferris decision issued Thursday, the Board issued yet another split decision that also may have far reaching consequences. In GVS Properties, LLC, 362 NLRB No. 194 (Aug. 27, 2015),...more

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