News & Analysis as of

Tenancy-in-Common

Rivkin Radler LLP

Trust Beneficiary Engages In Like Kind Exchange Using Trust Property

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It is a basic principle of the income tax that the gain or loss realized by a taxpayer from the conversion of property into cash, or from the exchange of property for other property that differs materially in kind from the...more

Ward and Smith, P.A.

How Should Two or More People Own Property? Does It Matter? - February 2024

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When two or more people (whether spouses, romantic partners, friends, or business partners) purchase property, they put significant thought into, among other things, the property's value, appearance and condition, and how...more

Cadwalader, Wickersham & Taft LLP

Breaking Up Is Hard to Do: Partition and Possible Land Mines (or What to ‘Mind’) for Lenders and Tenants-in-Common

Can you play nice and share a piece of real estate? Sharing is hard enough, but imagine jointly owning an investment property with your brother when he decides that he would like to sell and then retire in Hawaii. While your...more

Whitman Legal Solutions, LLC

Management of an “Accidental” Tenancy-in-Common

When it comes to tenant-in-common real estate (TICs), there are professionally-managed TICs assembled by a sponsor and sold to investors, usually to facilitate section 1031 exchanges. These TICs include a tenant-in-common...more

Perkins Coie

Pursuit of State Administrative Remedies Not Necessary to Obtain Final Decision for Federal Takings Claim

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The U.S. Supreme Court held that property owners do not have to comply with state administrative processes to obtain a final decision before bringing a takings claim under 42 U.S.C. § 1983 when the government’s position is...more

Allen Matkins

Sustainable Development and Land Use Update - July 2021

Allen Matkins on

Governor Newsom signs into law extension of California eviction protections, rent relief - Los Angeles Times – June 28 - California tenants will be protected from evictions for another three months, and those with low...more

International Lawyers Network

Buying and Selling Real Estate in Romania (Updated)

KEY FACTS OF REAL ESTATE ACQUISITIONS UNDER ROMANIAN LAW - I. Types of Real Property Transactions - A. Purchase of an undeveloped plot of land (agricultural); B. Purchase of a buildable plot of land (with or without...more

Adler Pollock & Sheehan P.C.

Consider All the Angles of Joint Ownership

Estate planners generally tout the virtues of owning property jointly — and with good reason. Joint ownership offers several advantages for surviving family members. But this shouldn’t be viewed as a panacea for every estate...more

Miles & Stockbridge P.C.

Real Estate Alphabet Soup: T Is for Tenancy

In my last post, “Real Estate Alphabet Soup: S Is for Survey,” I continued my primer on the “alphabet soup” of real estate. This post continues to stir the “alphabet soup” with the letter “T.”...more

Patton Sullivan Brodehl LLP

“Drop and Swap” — Tax-Friendly Handling of a Dissolving LLC’s Real Property

A common LLC problem: LLC members are ready to call it quits on the LLC and divide their interests in the LLC’s real property. Some members may want to sell, receive cash, and recognize gains for tax purposes. Other...more

Gray Reed

Tenancy in Common and Joint Tenancy Explained

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How long – if ever – has it been since you pondered the difference between a “tenancy in common” and a “joint tenancy”? Same for us, until the wheels came off a family relationship and a lawsuit was filed in Wagenschein v....more

International Lawyers Network

Buying and Selling Real Estate in Romania

KEY FACTS OF REAL ESTATE ACQUISITIONS UNDER ROMANIAN LAW - I. Types of Real Property Transactions - A. Purchase of an undeveloped plot of land (agricultural); B. Purchase of a buildable plot of land (with or without...more

International Lawyers Network

Buying and Selling Real Estate in Ecuador

KEY FACTS OF REAL ESTATE ACQUISITIONS UNDER ECUADOREAN LAW - I. STANDARD FORMS OF AGREEMENTS - A. Offer to Purchase sets forth Buyer’s offer of price, date for closing, contingencies for inspections, financing etc. and...more

Foster Garvey PC

Opportunity Zone Funds – Part II: Due Diligence Required

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As with any investment, due diligence is required. Investing in an Opportunity Zone Fund (“OZF”) is not any different. Historically, we have seen taxpayers go to great lengths to attain tax deferral. In some instances, the...more

Farrell Fritz, P.C.

Joint Accounts: Who Gets the Account Upon Your Death?

Farrell Fritz, P.C. on

An account that is titled in your name and that of your child “with right of survivorship” passes to your child upon your death “by operation of law.” That is, your Will does not control the disposition of this account. When...more

Ward and Smith, P.A.

How Should Two or More People Own Property? Does It Matter?

Ward and Smith, P.A. on

When two or more people (whether spouses, friends, or business partners) purchase property, they put significant thought into, among other things, the property's value, appearance, and condition, and how they are going to...more

Farella Braun + Martel LLP

Three Ways to Guard Heirs From Big Wine Realty Tax Bill

Estate-planning is often focused on reducing or eliminating estate tax at death. As the estate-tax exemption has increased in recent years — currently $5.45 million and counting — there is a shift to planning for income and...more

McNees Wallace & Nurick LLC

Estate Planning For Real Property

Often the most difficult asset for which to plan in an estate plan is non-commercial real property such as a family farm, a hunting cabin or other recreational property. This is especially true when the property makes up a...more

Smith Anderson

Section 1031 Exchanges: Innovative Strategies and Issues

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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

Allen Matkins

Good News for Taxpayers: California 1031 Exchange Decision

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The California State Board of Equalization (Board) recently issued a favorable decision in an important Section 1031 exchange case. As an elected body of five members, the Board hears appeals in California tax cases where the...more

Chambliss, Bahner & Stophel, P.C.

Understanding Tenancy: The Different Ways to Co-Own Property

When two or more individuals own property -- whether it's a condominium, a home, or a piece of land -- the relationship between the owners is very important. The form of ownership of the property affects how property is...more

Spilman Thomas & Battle, PLLC

Real Property 101 for Community Bankers in the Spilman Footprint

What is the difference between a Deed of Trust and a Mortgage? The terms “Deed of Trust” and “mortgage” are often used by people interchangeably. Both serve to give the lender a lien as collateral for a loan but, these...more

Troutman Pepper

Loan to Own: A Potpourri of Bankruptcy Attacks

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Colony Beach & Tennis Club Ass’n, Inc. v. Colony Lender, LLC (In re Colony Beach & Tennis Club, Inc.), 508 B.R. 468 (Bankr. M.D. Fla. 2014) – Three affiliated debtors (RMI, CBTC and CBI) proposed a plan of...more

Benesch

Ohio’s Sixth District Reverses Order Granting Class Certification

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In Gordon v. Erie Islands Resort & Marina, 6th Dist. No. OT-13-040, 2014-Ohio-4970, the Court of Appeals for the Sixth District of Ohio reversed an order granting class certification on the grounds that the trial court failed...more

Troutman Pepper

Cramdown Hurdles Round 2: Confirmation Can Be An Elusive Prize

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In re NNN Parkway 400 26, LLC, 505 B.R. 277 (Bankr. C.D. Cal. 2014) – The primary creditor (an undersecured lender) objected to the debtors’ proposed plan of reorganization on various grounds, including that the plan...more

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