Like Kind Exchange - Section 1031 News Feeds

Homestead
Homeowners (including single persons) in Florida may homestead their permanent (principal) residence. Declaring one’s residence as a homestead entitles the owners to certain protections and benefits including: Protection of the homestead. The homesteaded property is protected from forced sale for debts owing to personal loans, credit card debt, and so forth. However, the protection does not [...]

New House Or Old House when buy?
As you embark on your venture to buy a home, one of the first decisions to make is whether to buy new or to purchase an existing home. Each choice has its advantages, and there is no single answer which works for everyone. Existing homes offer many considerations for potential homebuyers, including: Maintenance And Repair. [...]

IRS Approves Carefully Structured Improvement Exchanges to Taxpayer's Own Property
Two new rulings by the Internal Revenue Service will help taxpayers who want the replacement property in their tax-free exchange to consist of improvements on their own land. Tax lawyers have long been uncertain whether such transactions could be ...

Why real estate can make you rich?
I am really serious about real estate now. After reading a book ‘How to Invest in Condominiums’, here is what I find out: If the real estate market is in a normal period, no dramatic up and down, after you bought an investment property for rental, 1) Your mortgage is fixed. So your cost is fixed. 2) Your [...]

Second-home loans Stiffer
(Though you can home equity loan on your first home mortgage. It is a bad idea, especially when you want to sell your primary home.) Most second-home loans require a 20 percent down payment. This is true for both an existing home and for a new second home that you plan to build. And the 20 [...]

Home Sale Tax Exclusions
As part of the Taxpayer Relief Act of 1997, Congress included a provision that will eliminate, not defer, the federal income tax liability on the gain on the sale of a principal residence, for most people. Under the new law, generally effective for property sales after May 6, 1997, up to $250,000 of the gain [...]

The thermometer of your local Market
How to check your local real estate market is going up or down? Go to http://www.realtor.com. On the left, under HomeBuying Tools. Click Market Conditions. Select your state, then county or city. Scroll down to the bottom of the page. You will see a graphic which tells you Average Current Marketing Rating and Average Current Price [...]

Second-home loans Stiffer
(Though you can home equity loan on your first home mortgage. It is a bad idea, especially when you want to sell your primary home.) Most second-home loans require a 20 percent down payment. This is true for both an existing home and for a new second home that you plan to build. And the 20 [...]

IRS Issues Tenancy-in-Common Guidance for Like-Kind Exchange
The creation and marketing of tenancy-in-common interests in real property as replacement property in tax-free exchanges has recently emerged as a major marketing force. Tenancy-in-common interests have broad appeal as an investment because they allow ...

Homestead
Homeowners (including single persons) in Florida may homestead their permanent (principal) residence. Declaring one’s residence as a homestead entitles the owners to certain protections and benefits including: Protection of the homestead. The homesteaded property is protected from forced sale for debts owing to personal loans, credit card debt, and so forth. However, the protection does not [...]

What is 1031 Exchange?
A 1031 exchange allows a taxpayer (Exchangor) to sell his or her existing property (relinquished property) and purchase more profitable and productive property (replacement property) while deferring Federal, and in most cases state, income taxes. This transaction is most commonly referred to as a 1031 exchange but is also known as a delayed [...]

Does Exchanging Still Make Sense With Lower Capital Gains Rates?
Earlier this year Congress passed legislation lowering capital gains taxes to as low as 15 percent. Has the capital gains tax rate been lowered enough so that it now makes sense to simply pay the tax and save the time and trouble of structuring the ...

What is 1031 Exchange?
A 1031 exchange allows a taxpayer (Exchangor) to sell his or her existing property (relinquished property) and purchase more profitable and productive property (replacement property) while deferring Federal, and in most cases state, income taxes. This transaction is most commonly referred to as a 1031 exchange but is also known as a delayed [...]

Types of Homeowners Insurance
There are six kinds of homeowners insurance in general and consistent use. Of these HO-3 is the most common policy followed by HO-4 and HO-6. Others that are less used, though still significant, are HO-1, HO-2 and HO-5. Each is summarized below: HO-1 A limited policy that offers varying degrees of coverage but only for items specifically [...]

Taxes, Exchanging, and Conservation Easements
Taxpayers who own farmland and other undeveloped land are occasionally approached by environmental organizations and governmental entities seeking to purchase a conservation easement. Can the sale of a conservation easement be structured as a tax-free ...

New Solution: Improvements to Property Owned by Taxpayer
A new technique can now be used to use improvements on property already owned by the taxpayer as replacement property in a tax-free exchange. And what is even better, it appears that this technique is without risk. In 1951, a federal court held that ...

New House Or Old House when buy?
As you embark on your venture to buy a home, one of the first decisions to make is whether to buy new or to purchase an existing home. Each choice has its advantages, and there is no single answer which works for everyone. Existing homes offer many considerations for potential homebuyers, including: Maintenance And Repair. [...]

Eight Approaches to Complete an Exchange if Individual Partners Want to Separately Exchange or Cash Out
Partnerships or limited liability companies (which are taxed as partnerships) are a very popular way to hold interests in real property. There are good reasons why this is the case. Partnerships are a very flexible way to hold and manage property and ...

New House Or Old House when buy?
As you embark on your venture to buy a home, one of the first decisions to make is whether to buy new or to purchase an existing home. Each choice has its advantages, and there is no single answer which works for everyone. Existing homes offer many considerations for potential homebuyers, including: Maintenance And Repair. [...]

National House Median Price Change
from National Association of Realtors. NAR’s third-quarter median existing single-family home price survey, covering changes in 147 metropolitan statistical areas, revealed that the average home nationwide appreciated by 14.7 percent since last year. Homes in only six metro areas lost value. See table tracking all 147 markets. Trailing just behind Phoenix were two Florida cities: Orlando, where [...]

Home Sale Tax Exclusions
As part of the Taxpayer Relief Act of 1997, Congress included a provision that will eliminate, not defer, the federal income tax liability on the gain on the sale of a principal residence, for most people. Under the new law, generally effective for property sales after May 6, 1997, up to $250,000 of the gain [...]

Can A Delaware Statuatory Trust Solve a TIC Loan Structuring Problem?
One problem faced by tenancy-in-common promoters is that many lenders have rules that prevent them from lending to, or allowing a loan to be assumed by, properties that are co-owned by more than just a few individuals. A Delaware statutory trust may ...

Types of Homeowners Insurance
There are six kinds of homeowners insurance in general and consistent use. Of these HO-3 is the most common policy followed by HO-4 and HO-6. Others that are less used, though still significant, are HO-1, HO-2 and HO-5. Each is summarized below: HO-1 A limited policy that offers varying degrees of coverage but only for items specifically [...]

The thermometer of your local Market
How to check your local real estate market is going up or down? Go to http://www.realtor.com. On the left, under HomeBuying Tools. Click Market Conditions. Select your state, then county or city. Scroll down to the bottom of the page. You will see a graphic which tells you Average Current Marketing Rating and Average Current Price [...]

THE NATURE OF PROPERTY
In medieval times kings and lords owned the land, and the common people worked the land under the feudal system of ownership. In the United States today the allodial system, which grew out of the English feudal system, allocates full property ownership rights to private individuals. Land refers not only to the surface of the earth [...]

Homestead
Homeowners (including single persons) in Florida may homestead their permanent (principal) residence. Declaring one’s residence as a homestead entitles the owners to certain protections and benefits including: Protection of the homestead. The homesteaded property is protected from forced sale for debts owing to personal loans, credit card debt, and so forth. However, the protection does not [...]

Avoiding Transfer Taxes in Reverse Exchanges
One of the problems in completing exchange-last reverse exchanges is the double set of transfer taxes imposed by such an exchange. In some states, one technique to avoid these transfer taxes is to have the accommodator expressly state that it is acting ...

Types of Homeowners Insurance
There are six kinds of homeowners insurance in general and consistent use. Of these HO-3 is the most common policy followed by HO-4 and HO-6. Others that are less used, though still significant, are HO-1, HO-2 and HO-5. Each is summarized below: HO-1 A limited policy that offers varying degrees of coverage but only for items specifically [...]

Home Sale Tax Exclusions
As part of the Taxpayer Relief Act of 1997, Congress included a provision that will eliminate, not defer, the federal income tax liability on the gain on the sale of a principal residence, for most people. Under the new law, generally effective for property sales after May 6, 1997, up to $250,000 of the gain [...]

IRS Takes Swipe Against Improvements to Property Already Owned by Taxpayer
The IRS in late July issued Revenue Procedure 2004-51, which barred one method of completing improvement exchanges to property already owned by the taxpayer. The revenue procedure did, however, leave open the door to continue to use another popular ...

Proprty Portfolios and the 45-Day Designation Rules
One of the most difficult problems that taxpayers face in structuring tax-free exchanges is finding and properly identifying replacement property. Can a portfolio of three or more properties owned by a single seller qualify as a single property for ...

The Super Rev Proc 2000-37 Reverse Exchange
When Rev Proc 2000-37, 2000-2 CB 308, was first released by the Internal Revenue Service, it was hailed as a significant breakthrough in structuring reverse tax-free exchanges. Rev Proc 2000-37 provides a safe harbor for anyone structuring a reverse ...

Second-home loans Stiffer
(Though you can home equity loan on your first home mortgage. It is a bad idea, especially when you want to sell your primary home.) Most second-home loans require a 20 percent down payment. This is true for both an existing home and for a new second home that you plan to build. And the 20 [...]

What is 1031 Exchange?
A 1031 exchange allows a taxpayer (Exchangor) to sell his or her existing property (relinquished property) and purchase more profitable and productive property (replacement property) while deferring Federal, and in most cases state, income taxes. This transaction is most commonly referred to as a 1031 exchange but is also known as a delayed [...]

THE NATURE OF PROPERTY
In medieval times kings and lords owned the land, and the common people worked the land under the feudal system of ownership. In the United States today the allodial system, which grew out of the English feudal system, allocates full property ownership rights to private individuals. Land refers not only to the surface of the earth [...]