Income Taxes on the Abandonment, Foreclosure or Repossession of Property

Income Taxes on the Abandonment, Foreclosure or Repossession of Property Dispositions of property include sales and exchanges, but also include abandonment, foreclosures and repossessions. For U.S. federal income tax purposes, you can have a gain or loss on these types of dispositions. When you abandon property, you voluntarily and permanently give up possession with the …

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Some real estate pros take aim at anti-piracy legislation

Some real estate practitioners and technologists have taken a stance against federal anti-piracy legislation in the U.S. House of Representatives (SOPA) and the Senate (PIPA), worried that it could restrict the legitimate sharing of real estate information online. Online user-generated encyclopedia site Wikipedia blacked out its site recently to protest the anti-piracy legislation that critics …

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Real Estate Fraud

Property Documents California’s challenging real estate market has made property fraud and other related schemes more prevalent. The Clerk-Recorder Department provides for the examining and recording of all documents dealing with establishing ownership of real property or land in Orange County.  The department also records other documents, such as deeds of trust, reconveyances, liens and …

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Why you can’t get the lowest mortgage rates

Five reasons near-record low rates are out of reach for some CHICAGO (MarketWatch) — Mortgage rates are near historical lows, but the rates lenders are quoting you aren’t as eye-popping as those you see in the news. When your vacation home becomes everybody’s home Buying a retirement or second home might sound like a great …

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