The law that allows homeowners to exclude up to $500,000 of gain is not a “once-in-a-lifetime” situation. It can be used over and over again. The only conditions are that the property must be owned and lived in two out of the five years before it is sold.

Filed under: 1031 Starker Exchange, Legal Advice in Common Scenarios, Money-Saving, Renting, Tax Issues, VRN | No Comments »

Can you tell me what steps a board of directors/management company should take in the event a water-damage claim against the master policy is made by a condo owner?

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Contemplate writing a codicil that has this language:
Codicil to my Last Will & Testament
Upon my passing my estate’s executor will cause my estate to hire the services of a private investigator to investigate the events leading up to my death or incapacitation, the cause of my death or incapacitation, and to then, if [...]

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Homes quite often go to the spouse who ends up with custody of the children. Indeed, the courts almost always give special consideration to the parent who gets the kids: Keep the kids, keep the house.

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This free guide shows you where to turn and whom to contact if you have a problem with a product or service.

The statement “I’m from the government, and I’m here to help you” is considered one of the great lies of our time.

But if you’ve [...]

Filed under: Disaster Preparedness, LA Area, Legal Advice in Common Scenarios, Money-Saving, Real Estate Market, VRN | No Comments »

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DEAR BENNY: I am retired. About 18 months ago (before the economic crash), I bought a fixer-upper and renovated it, but have been unable to sell it. If I let the property go into foreclosure, can/will the bank that gave me the mortgage try to get at my other assets [...]

Filed under: Foreclosure, Legal Advice in Common Scenarios, Mortgage, Real Estate Market, Short Sale | No Comments »

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DEAR BENNY: I recently purchased a home and directly next to it is a piece of railroad property that separates it and two other properties. All properties have access to the streets. The railroad took the land by eminent domain many years ago, and the prior owners are now long gone. When I [...]

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DEAR BENNY: My husband and I own a rental property that is paid off. We have been talking about separating, and my husband has said that I can keep the house. How can I get his name off the house and put my name on, or should we just sell it? I would [...]

Filed under: Divorce, Legal Advice in Common Scenarios | No Comments »