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New Rules Impacting Investors Converting Rentals to Residences

By
Commercial Real Estate Agent with Asset Preservation, Inc.

I know most of you have been following the big race that's shaping up to make November an interesting month - presidential elections do that.  While we've had our eyes turned to that, our lawmakers passed a very important law to assist many homeowners in the foreclosure crisis.  One part of that law that was not widely publicized could affect many exchange clients who might be thinking of making that rental they acquired in their exchange into their principal residence.

Please click on the link below to read more...

http://www.apiexchange.com/articles/pdf/Reduced%20121%20Gain%20Exclusion%20Post%201-1-09%20%20(118).pdf

 

 

Robert Whitelaw
Whitelaw & Sons Real Estate Services - Morgan Hill, CA
Broker, CEO, Realtor , ePro

Always good to draw attention to the things that we might miss as the other shiney thing gets our attention!

Sep 13, 2008 02:31 PM