Section 1031 of the Internal Revenue Code allows an investor to sell a property, to reinvest the proceeds in a new property, and to defer all capital gain taxes if the proceeds are reinvested in a similar property as part of a qualifying like-kind exchange.
The sale of real property can be a complicated process. There are many variables in both the sale and purchase process that require important decisions to be made. Having competent legal representation can ensure that all transactions proceed without complications.
Whether you are a renting a property and want to protect your rights as a tenant or are considering renting a property and becoming a landlord, it’s a good idea to to have legal representation for the structuring of lease agreements.
In California Proposition 13, passed in 1978, determines property taxes by multiplying a tax rate by an assessed property value. The property tax is composed of three types of levies — general tax levy, voter approved bond indebtedness repayment, and special district assessments.
Those with investment real estate can benefit from holding it in appropriate entities. We provide guidance and form real estate entities to provide liability protection and better asset management.