RELATED-PARTY TRANSACTIONS

RELATED-PARTY TRANSACTIONS

IRC §1031(f) provides that a tax-deferred exchange will be disallowed if the exchanger trades property with a “related prop­erty”, and either party sells one of the exchange properties within two years. The purpose behind the rule is to prevent people from engaging in...
LEGAL LIABILITY FOR INDIVIDUAL LANDLORDS HAS NEVER BEEN WORSE

LEGAL LIABILITY FOR INDIVIDUAL LANDLORDS HAS NEVER BEEN WORSE

Your clients who own rental property expose themselves—and their assets—to a world of potential legal liability beyond mere home ownership. It is possible to mitigate this risk by holding title through business entities (LLCs, corporations, irrevocable trusts, etc.)...