LexisNexis® Legal Newsroom
Tax Strategies for Transferring Family Homes

Outright Gifting of Property Interests From the donor's perspective, the simplest alternative for transferring a family home to children and grandchildren is to make outright gifts of real property interests. In this Analysis, Nancy G. Henderson discusses gifting with the annual exclusion...

Mills on Foreclosure Tax Issues for Homeowners

In this Analysis, Patricia Hughes Mills discusses the tax consequences when homeowners either lose their homes due to foreclosure or are able to avoid foreclosure by loan modification. Professor Mills includes a checklist of related questions for attorneys to ask distressed homeowner clients. She...

Mills on Foreclosure Tax Issues for Homeowners

In this Analysis, Patricia Hughes Mills discusses the tax consequences when homeowners either lose their homes due to foreclosure or are able to avoid foreclosure by loan modification. Professor Mills includes a checklist of related questions for attorneys to ask distressed homeowner clients. She...

Real Cases in Real Estate By Andrea Lee Negroni, Esq. – July 2nd, 2012 Update

Real Cases in Real Estate is a weekly update on real estate law, with legal principles illustrated and explained by lawsuits from around the country. The topics are wide-ranging for appeal to a broad spectrum of readers including lawyers, homeowners, investors and the general public. Andrea Lee...

Real Property Long-Term Contract Accounting Requirements and Dynamics

By Patricia Hughes Mills J.D. LL.M Subject to Internal Revenue Code and regulatory requirements, the method of accounting adopted by a taxpayer determines when items of income and expense are reportable for federal income tax purposes. Different accounting methods may apply for different businesses...

Owners of Tax-Exempt Property in Philadelphia Must Prove the Property Is Still Exempt

By Philip B. Korb, Wendi L. Kotzen, Christopher Jones, and Richard J. Slavin, Ballard Spahr LLP Owners of tax-exempt properties in Philadelphia have begun receiving requests from the Office of Property Assessment (the OPA), required by City Council Ordinance 130123, to submit information to allow...