Real Property
Tax Implications of Sale of Residence Upon Divorce
For many people, the federal home sale gain exclusion is the single most valuable tax break available. But if you’re getting divorced…
Operation of Law: Coordinate your Will and Property Ownership, etc.
You know the importance of having a will. If you die “intestate” (without a will in legal language), your state’s laws will…
Deeds – more information required in 2010
Effective January 1, 2010, all new North Carolina deeds must contain the address of both the grantor and grantee as well as…
Reverse Mortgages can be Hazardous to your Equity
The National Consumer Law Center has come out with a report detailing the risks of reverse mortgages for senior homeowners. Because of high fees,…
I Inherited Real Estate – Where’s My Deed?
I often have clients ask about “getting a deed” when they inherit real property. My response is usually “you don’t need one.”…
A Short Story on Asset Protection
I had a new client come in yesterday, and we were discussing including asset protection in his estate plan. He mentioned he…
Tax Credit Options for First-Time Homebuyers
First-Time Homebuyers Have Several Options to Maximize New Tax Credit WASHINGTON — As part of the Treasury Department’s consumer outreach effort and…
Expanded Tax Break Available for 2009 First Time Home Buyers
From today’s IRS Newswire: WASHINGTON — The Internal Revenue Service announced today that taxpayers who qualify for the first-time homebuyer credit and…
NC in Middle of Pack When it Comes to Foreclosures
In 2008, 0.84% of housing units in North Carolina went into foreclosure, placing us at number 27 among the 50 states and…
More on Insuring Homes in Living Trusts
A colleague of mine, Dennis Toman of Greensboro, contacted the North Carolina Deparment of Insurance about the issue of insuring homes owned by…
