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The rule against perpetuities serves a number of purposes. First, English courts have long recognized that allowing owners to attach long-lasting contingencies to their property harms the ability of future generations to freely buy and sell the property, since few people would be willing to buy property that had unresolved issues regarding its ownership hanging over it.
Florida realtor Jeff Chenore has been in the real estate business for 30 years and says the situation is reaching a breaking point. ... Florida's new rules have a lot of condo owners spooked ...
A short sale can help you get out of an underwater situation, but you won’t profit from the sale, and it’ll impact your credit score for some time. This can make it harder to obtain credit in ...
The Florida Constitutional homestead exemption offers virtually absolute protection from forced sale to meet the demands of creditors, except under four special circumstances, and should not be confused with the Florida Ad Valorem tax reduction savings, which is a product of the Florida legislature.
Florida is one of several states where the courts are required to be involved in every step of the foreclosure process. By 2012, it took three years to complete the process. In nonjudicial states, it takes an average of 100 days.
Non-qualifying mortgage (non-QM) – For a non-qualifying mortgage, there may be no waiting period, but keep in mind that these loans can require a larger down payment and charge higher interest ...
Taxpayers who hold real estate as inventory, or who purchase real estate for re-sale, are considered "dealers". These properties are not eligible for Section 1031 treatment. However, if a taxpayer is a dealer and also an investor, he or she can use Section 1031 on qualifying like properties.
To record sales, the perpetual system requires an extra entry to debit the Cost of goods sold and credit Merchandise Inventory. By recording the cost of goods sold for each sale, the perpetual inventory system alleviated the need for adjusting entries and calculation of the goods sold at the end of a financial period, both of which the periodic ...