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Actual fraud typically involves a debtor who as part of an asset protection scheme donates his assets, usually to an "insider", and leaves himself nothing to pay his creditors. Constructive fraud does not relate to fraudulent intent, but rather to the underlying economics of the transaction, if it took place for less than reasonably equivalent ...
Perhaps the ultimate restraint on alienation was the fee tail, a form of ownership which required that property be passed down in the same family from generation to generation, which has also been widely abolished. [1] However, certain reasonable restraints will be given effect in most jurisdictions. These traditionally include:
Irrevocable trusts created before September 25, 1985, are said to be "grandfathered" (no pun intended) and exempt from the GST tax. The most recent version of the generation-skipping transfer tax, applicable to estate or gift transfers through December 31, 2009, did not attempt to impose a tax equal to the estate or gift tax that was avoided.
Each U.S. state has a recording act, a statute which dictates the legal procedure by which an individual claiming an interest in real property (real estate) formally establishes their claim to that property. The recordation of property rights becomes particularly significant where an unscrupulous dealer in land purports to sell the same tract ...
Tax evasion or tax fraud is an illegal attempt to defeat the imposition of taxes by individuals, corporations, trusts, and others. Tax evasion often entails the deliberate misrepresentation of the taxpayer's affairs to the tax authorities to reduce the taxpayer's tax liability, and it includes dishonest tax reporting, declaring less income ...
If you look back at your receipts during the holiday period, which ran from July 30 to Aug. 8, and find you were charged sales tax, the Ohio Department of Taxation suggests filing for a consumer ...
Ohio Sales Tax Resale Certificate Example: If living in Ohio and selling or shipping something to someone else in Ohio, then one must collect and pay sales tax to the State of Ohio. But if selling the same item to someone outside the State of Ohio, one need not charge sales tax, but must report the exempt tax sale to the State of Ohio.
A judge's ruling that Donald Trump committed fraud as he built his real-estate empire tarnishes the former president's image as a business titan and could strip him of his authority to make major ...