“Survival” Isn’t Guaranteed: Understanding Joint Tenancy and Rights of Survivorship
Many legal set-ups are available when it comes to co-owning assets, whether those assets consist of real property, bonds, bank accounts, or even stamp collections. Determining the best vehicle for ownership, especially among many people or partners, depends on the relationship between the individuals, and what happens to the property if one of those individuals should die.
Due Diligence: Avoiding Buyer's Remorse
Before buying real estate of any kind, it stands to reason that research on the asset should take place. Doing so helps ensure the minimization of post-sale shocks or surprises. This research -- known as due diligence -- provides you with an in-depth look at your potential investment.
Qualified Opportunity Zone Trends
Now that Qualified Opportunity Zone (QOZ) regulations are getting finalized, investments are beginning to pick up steam, and QOZ funds are generally mirroring non-QOZ real estate development funds. A report from Novogradec shows, as of the beginning of January, that QOZ funds have raised more than $6.7 billion, which is a 50% increase from just a month ago.
Is Probate Required For Jointly Owned Property?
Probate is the process of settling a person’s estate after they have died. During probate, a court oversees the distribution of assets left by a deceased person. Some joint ownership structures require probate, while others do not. In this article, we’ll look at each in detail.
New Bills Seek To Amend Opportunity Zone Census Tracts
The Qualified Opportunity Zone (QOZ) program has attracted a lot of congressional attention in recent months, including several legislative proposals. How should current or potential future investors in QOZs view these proposals? In this article, we will discuss some of the recent developments and the possible ramifications.
How Does Location Impact My Real Estate Investment?
Location, location, location. We’ve all heard it before and certainly the location of an investment property is a huge driver of the investment’s performance. While it may be easy to spot a “good” location, there are also some locational risks that are often overlooked. From the market the property sits in, to its location within a retail center, location is fundamental to determining why tenants, occupants, and customers are driven to a particular commercial or residential property. As you review and compare different real estate investment opportunities, here are some important factors to consider.
The Tax Implications Of Exchanging, Selling, Or Inheriting Investment Property
Owning investment property means much more than maximizing cash flow through rent growth and occupancy. Owning investment property means managing the taxes that come with it, whether that be in the form of taxable income or capital gains. In this article, we’ll discuss three key differences between exchanging, selling, or inheriting investment property, and the tax implications that come with each scenario.
Frequently Asked Questions About Capital Gains
Most Americans will admit that instant gratification is an Achilles’ heel, especially in their personal financial realm. Digital devices increase the ease in which we execute transactions to buy. The Federal Reserve offers proof: credit card debt has entered the stratosphere: it has reached $1.04 trillion and is still on an upward trajectory.
Rights and Responsibilities of Joint Ownership
Owning property with multiple people can lead to complex scenarios. Before taking part in a property with multiple owners, it’s best to know what you are getting into, what your rights are, and options that are available to you when it’s time to sell the property.
When Is The Right Time To Sell My 1031 Exchange Property?
The Internal Revenue Code Section 1031 is very clear about the process investors must undergo to defer recognition of capital gains (and, therefore, to defer paying taxes on those capital gains). Specifically, you have 45 days from the date you relinquish your asset to find a “like-kind” replacement. And, you have 180 days from the date you relinquish Real Estate A to close on that replacement Real Estate B. These timelines are chiseled in IRS stone, with no exceptions.
