Real Estate Transfers

News & Analysis as of

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

Tax Sale Redemption: Recovering Your Lost Collateral

It is now more important than ever for lenders to not allow real estate to be sold for delinquent taxes at a tax sale—whether it is real estate owned by the lender or mortgaged to the lender. New case law has complicated and...more

Is a “Receiver’s Sale” a Foreclosure Sale?

Earlier this year, the Nevada Supreme Court held in U.S. Bank Nat’l Assn. v. Palmilla Dev. Co. that under Nevada law, a “receiver’s sale” of real property securing a loan qualifies as a judicial foreclosure sale, and...more

Four Things to Know About Lis Pendens

Lis pendens is a long-standing, frequently misunderstood doctrine concerning unorthodox interests in real estate. The doctrine of lis pendens literally means “pending suit,” and lis pendens notices are the machinery whereby a...more

IRS Extends Due Date for New Basis Reporting Rules

On July 31, 2015, the laws addressing the basis of property acquired from a decedent were revised. Among other things, the new laws require an executor to provide to the IRS and to each estate beneficiary a statement...more

Changes in Real Estate legislation, Q2 2015 - Overview of the most important changes for the second quarter of 2015 in Russian...

Changes at the federal level - RF Federal Law ? 184-FZ “On Amendments to the RF Federal Law “On the State Real Estate Cadaster” and Article 6 of the RF Federal Law “On Special Economic Zones (SEZ) in the Russian...more

Section 1031 Exchanges: Innovative Strategies and Issues

This webinar addresses the requirements for 1031 Exchanges, the various types of 1031 Exchanges, and issues involving 1031 Exchanges in partnerships, limited liability companies and tenant-in-common situations. Please...more

New Law Steps Up Reporting Requirements for Executors

The laws addressing the basis of property acquired from a decedent were revised on July 31, 2015. Generally, property acquired from a decedent receives a basis equal to its fair market value at the decedent’s date of death,...more

MoFo New York Tax Insights - Volume 6, Issue 7 - July 2015

In This Issue: - Important Changes at NYS and NYC Tax Agencies - Court of Appeals Upholds Constitutionality of Taxing Nonresidents on Gain from S Corporation Stock Sale in Two Separate Decisions - NYC Tribunal...more

Update on Estate and Gift Tax Proposals

Congressional Proposals: H.R. 1105, Death Tax Repeal Act of 2015, was passed by the House, as amended, on Apr. 16, 2015. The bill amends the Internal Revenue Code to repeal the estate and generation-skipping transfer taxes...more

Revised Property Transfer Tax Return Form Requests Additional Information About Hidden Buyers of New York City Real Estate

In February, the New York Times published an 8,000-word investigation into wealthy foreigners buying New York City real estate and taking advantage of U.S. laws that allow them to set up shell companies in order to obscure...more

Back to the Future Interests: Tennessee’s Codification of a Common Law Property Principle

On March 19, 2015, Governor Bill Haslam signed into law HB 793/SB1226, which codifies Tennessee case law regarding transfers of future interests in defeasible fee estates such as a “fee simple subject to a condition...more

Alaska Supreme Court Says Exploration is a Transfer of Interest in State Land, Cannot Be Allowed Without Full Public Notice and...

The Alaska Supreme Court’s recent decision in Nunamta Alukestai v. Pebble Limited Partnership, No. 7011 (Alaska filed May 29, 2015) significantly alters the permitting process for projects within the jurisdiction of the...more


While asset-light strategies have been utilized for decades in the hotel industry, the strategy and how to implement it are a bit more complicated in the development space, whether for a hotel or time-share company. A typical...more

Great News for Lenders—A Recent Decision Further Limits the Sham Guaranty Defense

Recently, and shortly after my visit to several lender clients to make presentations regarding, among other topics, the enforceability of commercial guaranty agreements and the sham guaranty defense, the California Court of...more

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