News & Analysis as of

Real Estate Market Limited Liability Company (LLC)

A Pair of Unbrotherly Business Altercations Go to Trial

by Farrell Fritz, P.C. on

Like most civil cases, the vast majority of business divorce disputes get resolved before trial, which is disappointing for us voyeurs since only at trial with live witnesses undergoing cross examination does one get the full...more

Supreme Court of California Set to Decide Documentary Transfer Tax Case

by Holland & Knight LLP on

The Supreme Court of California is slated to review a 2014 decision by the California Court of Appeal for the Second District, which held in 926 North Ardmore Avenue, LLC v. County of Los Angeles that a change in ownership of...more

Winter Case Notes: De Facto Partnership and Other Recent Decisions of Interest

by Farrell Fritz, P.C. on

Welcome to another edition of Winter Case Notes in which I clear out my backlog of recent court decisions of interest to business divorce aficionados by way of brief synopses with links to the decisions for those who wish to...more

My “Flippín” House?

by Gerald Nowotny on

Tax Strategies to Reduce Taxation and Build Wealth for House Flippers - Overview - I seem to be perpetually out to lunch. When I step on the scale too, this point is further confirmed. I do not know why I have...more

West Coast Real Estate Update: May 2016 #1

by Holland & Knight LLP on

IRS Reevaluates "Bad Boy" Carve-Outs - Before providing a non-recourse loan to a Limited Liability Company (LLC) – i.e., one for which the LLC members do not bear the risk of economic loss – a lender often will require...more

IRS Reverses Position on “Bad Boy” Guarantees

by Butler Snow LLP on

Earlier this year, the IRS issued Chief Counsel Advice 201606027 (February 5, 2016) concluding that, for purposes of the basis and at-risk limitations, an LLC member’s guarantee of entity-level nonrecourse debt conditioned...more

IRS Withdraws Controversial Pronouncement on “Bad Boy” Guarantees

by Kelley Drye & Warren LLP on

In a client advisory dated February 25, 2016, we described a legal memorandum released by the Office of Chief Counsel of the Internal Revenue Service (the “Memorandum”) which took the position that a typical “carve-out” or...more

IRS Pronouncement On “Bad Boy” Guarantees Challenges Well-Established Tax Treatment of Real Estate Investors

by Kelley Drye & Warren LLP on

The IRS Office of Chief Counsel recently released legal memorandum 201606027 (the “IRS Memorandum” or “Memorandum”) that calls into question two fundamental and well-established aspects concerning the tax treatment of...more

A Couple Of Points About Receiverships

by Brooks Pierce on

There's a lot to wonder about receiverships. Like, how is the Receiver's compensation calculated? And does it make a difference to compensation if a corporate shareholder says the receivership was unnecessary, and that it...more

Real Estate Acquisitions in Japan

by DLA Piper on

Interest in acquiring Japanese real estate, such as hotels, office buildings and retail complexes, is increasing due to Abenomics and the depreciation of the yen against major currencies. Japan expects to have a robust estate...more

Homebuilder Series Webinar: Joint Ventures Solutions, Steve Lear

by Bilzin Sumberg on

This is the second in a series of in-depth webinar discussions that cover a range of legal and business issues affecting the homebuilder industry. Homebuilders frequently use joint ventures as a means to finance...more

New Measures Under California’s Uniform Limited Liability Company Act May Complicate Contracts For Real Estate Companies

by Goodwin on

On January 1, 2014, The California Revised Uniform Limited Liability Company Act (popularly known as RULLCA; Cal. Corp. Code §§17701.01-17713.13) went into effect. RULLCA, a modified version of the Revised Uniform Limited...more

Delaware Supreme Court Disclaims Court of Chancery’s Conclusions on Fiduciary Duties of Managers of Delaware LLCs

by Ropes & Gray LLP on

In an opinion issued on November 7, 2012, the Delaware Supreme Court left open the long-standing question of whether the Delaware Limited Liability Company Act imposes default fiduciary duties on managers of Delaware LLCs in...more

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