Fully explains and illustrates the most important federal tax principles applicable to real estate transactions.
Here's true one-stop shopping! Volume 1 provides you with 21 chapters examining all of the Federal tax ramifications of real estate transactions, replete with dozens of hypothetical examples, tax planning tips, caveats and more. Volume 2 contains over 100 legal forms and agreements for use in handling all types of real estate transactions, along with 13 practice checklists. Perfect not only for tax practitioners, but for everyone else involved in the real estate industry: lawyers, developers, brokers, management companies, lenders, etc.
Volume 1
Twenty-one chapters cover:
Acquisition and development of real estate
Operating and leasing property
Depreciation and tax credits
Installment sales
Dispositions by involuntary conversion, abandonment, condemnation and casualty
Like-kind exchanges
Personal residences (including home office and vacation homes)
Dealer vs. investor status
Subdivision and tract development
Financing commercial real estate transactions
P.A.L. and at-risk rules
Ownership of property through corporations, partnerships and LLCs
REITs, REMICs, condos and co-ops, FASITs
Foreign investment in U.S. real estate
Estate planning issues
Valuation of real property interests
Volume 2
Thirteen practice checklists provide step-by-step guidance on how to: draft deeds, sales contracts, leases, mortgage documents; handle a closing; represent a broker that is leasing or selling units in a development; conduct an environmental site assessment; question a seller or landlord about the environmental condition of the property, and much more!
You'll also get over 100 legal forms and agreements for use in: (a) sales and exchanges; (b) creating and operating real estate entities, like partnerships and LLCs; (c) leasing; (d) environmental concerns in real estate transactions; and (e) development and subdivision.
Also includes subject matter index, tables of cases, IRC sections, etc
First published in 1978.