Real estate articles for agents, mortgage lenders, homebuyers and homeowers looking to refinance.
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TROUBLE BREWING; ESTATE TAX IN MD, DC AND VA By: Jennifer Concino of Tobin, O'Connor, Ewing & Richard With the average cost of a house rapidly rising in the DC Metropolitan area, it is especially important that homeowners recognize the need for tax and estate planning. Each and every homeowner s...
FIRPTA - How To Protect your Buyer By: Joseph Gentile What is FIRPTA? The Foreign Investment in Real Property Tax Act (FIRPTA), 26 U.S.C. § 1445, provides that a buyer must withhold 10 percent of the amount realized by the foreign seller in the sale of an interest in U.S. real property. If the s...
Maryland Nonresident Sellers Beware:Your Settlement Proceeds are Subject toIncome Tax Withholding By: Jennifer Concino A nonresident individual seller of Maryland real property may be surprised to learn that the check he walks away with from the closing table will be much less than anticipated; ...
Have You Considered IncorporatingYour Real Estate Business By Stephen J. O'Connor of Tobin O'Connor & Ewing A corporation or limited liability company (LLC) can be formed quickly and efficiently by filing standardized documents with the appropriate jurisdiction. A corporation that, after bein...