There are several types of 1031 tax deferred exchanges, but in general a 1031 exchange is a legal method of selling property that allows a taxpayer to defer federal capital gains taxes (and often state taxes) when transferring a Relinquished Property in exchange for a Replacement Property. Relinquished Property is the property that is given up or conveyed… Read More »
There are many potential benefits of doing a 1031 exchange of your property. In this article, we will explain some of these benefits, and how you can take advantage of them.
We’ve all heard of bad landlords – people that seemingly take no interest in their property, are slow to respond to complaints, and generally don’t get around to cashing rent checks until a month and a half after the fact. But few of us think about things from the other end: the perspective of the landlord.
Renting out a part of your house or apartment, or subletting, is a great way to earn extra (and generally passive) income – income that can help supplement your own rent payments. But too many people take the illegal route, housing people in areas that they should not be housing them. When they’re found out, not only does… Read More »
The business of real estate – even in a slow economy with low house prices like our current state of affairs – is a big one. Real estate transactions happen every day, and a lot of people need to take out loans just to pay for one purchase. That’s because real estate deals with land and living property… Read More »
Submitting a renter’s application can be a seminal moment in your life – maybe you’re moving out of the college dorm room and are finding an apartment of your own for the first time. Maybe you’re moving into a new city and the renter’s application represents the first time you’re putting your new life down on paper. Or,… Read More »
You tell yourself that “this time, I’ll make sure to read the full lease agreement.” After all, no one likes being blind-sided by a landlord who has an eye for fine print and legalese. You’re determined that everything you sign will be something you fully understand. Good for you, of course. But there’s just one problem: the lease… Read More »
If it sounds like an odd agreement between two parties, that’s because it often is: the quitclaim (or sometimes the “quick-claim deed”) is a very unique agreement that could have your head spinning by the time you finish reading this article. But once you get a basic handle on it, you’ll understand its uses and, of course, why… Read More »
If you ask most people, they’re not interested in the law. Sure, they’ll enjoy a good courtroom drama on television, and they’ll listen to interesting cases on the news, but when it comes to local and state laws governing their actions – well, some peoples’ eyes simply glaze over. It’s not hard to blame them, considering just how… Read More »
When any property transfers from one owner to another, a deed of transfer must be recorded with the local registry in the appropriate city or county. Generally, when one party purchases property from another party, a warranty deed is written, signed, witnessed and recorded. However, this may not always be necessary.