Reference Home improvements:Is there 30 and 45 degree angles for vinyl gutters and where can I get them?
Tag Archives: reference
Reference Home improvements:Is there 30 and 45 degree angles for vinyl gutters and where can I get them?
Posted in Home Improvement
Tagged Degree, degree angles, gutters, Home, home improvements, reference, vinyl
Defer capital gains on land contract sale? Please be specific?
Uderwriting for commercial lending, so need direct reference from IRS (searching myself in meantime). Is it true that one can defer capital gains on property sold on land contract? He claims that “Under Capital Gains the IRS code Sec. 1222; Reg 1.1222-1 specifies “In the case of real estate, a sale or exchange occurs on the earlier of the date of conveyance or the date when all of the burden and benefits of ownership pass to the purchaser. Obviously, the purchaser does not have all of the burdens or rights of ownership, i.e., they cannot sell the real estate, drop insurance, burn it down, not pay the taxes, not pay the monthly payments (without ownership reverting to me) and dozens of other factors. Purchaser could simply walk away and I’d have them back! Of course the conveyance of the deed won’t happen until the last payment is made in full.” He refers to “like like” exchange as other loophole and why pay cap gains if you don’t have to. Please include link or professional reference.
Posted in Land For Sale
Tagged burdens, Capital, capital gains on property, contract, conveyance, dozens, Estate, exchange, insurance, IRS, irs code, Land, land contract, loophole, ownership, professional reference, purchaser, Real Estate, reference, reg, sale
IRS code Sec. 1222; REg 1.1222-1 question for land contract sale. Can one defer capital gains on sale?
I do underwriting for commercial lending, so need direct reference from IRS (searching myself in meantime). Is it true that one can defer capital gains on property sold on land contract? He claims that “Under Capital Gains the IRS code Sec. 1222; Reg 1.1222-1 specifies “In the case of real estate, a sale or exchange occurs on the earlier of the date of conveyance or the date when all of the burden and benefits of ownership pass to the purchaser. Obviously, the purchaser does not have all of the burdens or rights of ownership, i.e., they cannot sell the real estate, drop insurance, burn it down, not pay the taxes, not pay the monthly payments (without ownership reverting to me) and dozens of other factors. Purchaser could simply walk away and I’d have them back! Of course the conveyance of the deed won’t happen until the last payment is made in full.” He refers to “like like” exchange as other loophole and why pay cap gains if you don’t have to. Please include link or pro reference.
Posted in Land For Sale
Tagged burdens, Capital, capital gains on property, code, contract, conveyance, dozens, insurance, IRS, irs code, Land, land contract, loophole, ownership, purchaser, Real Estate, reference, reg, sale, SEC
Defer Capital Gains on property sold on land contract? Need answer asap – please with references…?
I do underwriting for commercial lending, so need direct reference from IRS (searching myself in meantime). Is it true that one can defer capital gains on property sold on land contract? He claims that “Under Capital Gains the IRS code Sec. 1222; Reg 1.1222-1 specifies “In the case of real estate, a sale or exchange occurs on the earlier of the date of conveyance or the date when all of the burden and benefits of ownership pass to the purchaser. Obviously, the purchaser does not have all of the burdens or rights of ownership, i.e., they cannot sell the real estate, drop insurance, burn it down, not pay the taxes, not pay the monthly payments (without ownership reverting to me) and dozens of other factors. Purchaser could simply walk away and I’d have them back! Of course the conveyance of the deed won’t happen until the last payment is made in full.” He refers to “like like” exchange as other loophole and why pay cap gains if you don’t have to. Please include link or pro reference.
Posted in Land For Sale
Tagged burdens, Capital, capital gains on property, contract, conveyance, dozens, Estate, exchange, insurance, IRS, irs code, Land, land contract, loophole, ownership, Property, purchaser, Real Estate, reference, reg
In reference to my question about foreclosure. My name is not on the loan although it is on the Deed?
Does anyone know how this affects my credit? Also in reference to some of the answers that I recieved. Thankyou for your advice and kind words. The house is up for sale it’s just not selling..I live in Michigan and for some of you, who don’t know? the economy here is horrible. It makes me so mad because my soon to be ex makes a great living and this did not have to happen. He is such a control freak and wants to destroy everything so I have nothing !`Which is o.k. I know I’ll be fine. I’ve been looking daily for another home to live in. Thanks again for all your answers. Please if anyone has been through anything simular to my situation pleasr give me some information, advice anything that may help me with this mess
Posted in Homes For Sale
Tagged advice, anyone, anything, control freak, credit, Deed, economy, Foreclosure, information advice, loan, Michigan, name, question, reference