Jordan Born

Selecting the Entity for a Real Estate Purchase – Limited Liability Companies

In our fourth and final installment of our continuing series on entity selection for owning real estate, we will address the business and tax law considerations concerning limited liability companies.

What is a Limited Liability Company?

Limited liability companies (LLCs) are the most popular choice of organizational form because of the inherent flexibility in most state statutes that enhances the ability of the entity to adopt features that best serve its objectives.

Selecting the Entity for a Real Estate Purchase – Corporations

In the first part of our series concerning entity selection for owning real estate, we addressed sole proprietorships and tenants in common. In part two, we addressed the business and tax law considerations of partnerships. In this installment, we consider the business and tax law aspects of corporations.

Selecting the Entity for a Real Estate Purchase – Partnerships

In the first part of our series concerning entity selection for owning real estate, we addressed sole proprietorships and tenants in common. Here we examine the business and tax law considerations concerning partnerships.

The Tax Cuts and Jobs Act of 2017 and its Effects on 1031 Exchanges

The Tax Cuts and Jobs Act of 2017 (TCJA) that took effect on January 1, 2018 was a major overhaul of the Internal Revenue Code. Late in 2017, while changes to Section 1031 were being contemplated by Congress, Accruit posted this blog article concerning some of the proposed amendments or even total repeal of Section 1031 being contemplated in Washington, D.C. and the potential adverse effects on tax deferred exchanges.

Selecting the Entity for a Real Estate Purchase – Part 1

In this series of blogs, I provide a brief overview of the most common forms and business entities available under state law for purposes of owning real estate. These summaries do not seek to account for every similarity or difference between forms and business entities, but rather focus on what will probably be the most salient factors when comparing one entity against another.

Real Estate Transaction Basics

A real estate transaction can be a perplexing process no matter if it’s large or small. The precise procedures and professionals pushing paper appear puzzling regardless of whether the transaction qualifies for a tax- deferred exchange under Section 1031. While there are many legal and financial aspects that revolve around the purchase and sale of real estate, the closing of a real estate transaction should not be an adversarial process. No useful reason exists to think of or treat a closing like litigation although it does happen. Everyone involved needs to work together in a cooperative way to consummate the deal. Real estate law is a function of locality and custom in many respects; however, we will generally review some commonalities in the closing of a real estate transaction.
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