Attorneys often advise our clients on the various legal entities available for property ownership. One option that offers significant advantages, particularly for investors and property owners, is owning property through a Limited Liability Company (LLC). In this blog post, we'll explore the benefits of owning property in an LLC and why it may be a strategic choice for you.
Read moreUnderstanding the Benefits and Process of a 1031 Exchange in Real Estate Investing
A 1031 Exchange in real estate investing offers a strategic means for investors to defer capital gains taxes and expand their property portfolios. Under Section 1031 of the IRS tax code, investors can exchange one investment property for another, provided specific criteria are met. This process involves identifying replacement properties within 45 days of selling the original property and completing the exchange within 180 days. Collaborating with qualified intermediaries and adhering to IRS regulations are essential for successful implementation. Various 1031 Exchanges exist, including Delayed, Like-Kind, Reverse, and Built-to-Suit, each offering unique advantages for investors seeking to optimize their tax strategies and real estate ventures.
Read moreNavigating Changes in New York Property Disclosures: Understanding the Impact of the PCDS
As of March 20, 2024, significant amendments to the New York Property Condition Disclosure Statement (PCDS) have been implemented, marking a pivotal shift in how residential real estate transactions are conducted. These changes aim to provide buyers with enhanced information about various aspects of a property, empowering them to make informed decisions. In this blog post, we'll explore the implications of these modifications and what they mean for buyers and sellers alike.
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