|
PLR BREAKS THE ICE FOR HAVING DIFFERENT ENTITIES AT BOTH ENDS OF A SECTION 1031 EXCHANGE Tax advisors and intermediaries have for years advised that exchange transactions should be structured to have the same entity end up with title at both ends of a tax-deferred exchange. The I.R.S. has issued a Private Letter Ruling (PLR) which reflects common sense in this area and allows for a departure from this premise. |
|
Read more... [PLR Breaks the Ice...]
|
|
|
Disclosure: Easy on Sale, Not on Purchase |
 |
 |
 |
|
Disclosure: Easy on Sale, Not on Purchase
Author's note: This article comes from a letter to our local Realtor's association. Since it was sent, we have received some good input regarding the "Nominee" language, to-wit, the contract with "or Nominee" should ideally have an acceptance of whoever may be the nominee as a condition of acceptance from the very start. We are advised that simply putting "or Nominee" will not necessarily make any nominee acceptable and without that acceptance, may introduce some kind of potential conflict which does not need to be. We also note that the input we requested has not yet had time to form. We will post any significant responses or additions. Readers are invited to give such input through our e-mail. |
|
Read more... [Disclosure: Easy on Sale, Not on Purchase]
|
|
|
|
|
|
