When two or more people own the same property, one of the owners CAN force a sale of the jointly owned property via a partition action or lawsuit. If you are dealing with joint ownership property, this guide explains the… Read More »Forced Sale of Jointly Owned Property (Partition Action)
8-12 weeks is a typical quiet title time frame. However, do not assume that your quiet title is a typical one! There may be other factors at play. To accurately estimate your unique quiet title time frame, you must be aware of… Read More »QUIET TITLE TIME FRAME: HOW LONG DOES IT TAKE?
The last thing you need is an overpaid and ineffective quiet title attorney. You want an attorney who specializes in solving your unique problem and does not overcharge you for doing so. This article provides the most important considerations to… Read More »Before hiring a quiet title attorney, read this.
IF YOU OWN YOUR PERSONAL RESIDENCE IN AN LLC, ARE YOU SUBJECT TO CAPITAL GAINS TAX? For privacy and liability reasons, some homeowners hold title to a personal residence in the name of a limited liability company (LLC). Generally, this… Read More »PERSONAL RESIDENCE IN AN LLC – IMPACT ON CAPITAL GAINS TAX
Yes, but only in certain circumstances. In most states, the winning party in a quiet title action can potentially recover attorney fees if the losing party wrongfully failed to correct the issue prior to the lawsuit. To determine whether you qualify, review the recovery options… Read More »Can I Recover Attorney Fees in a Quiet Title Lawsuit?
The cost of a quiet title action ranges from $1,500 to $5,000 for an uncontested lawsuit. Contested (or litigated) quiet title actions can cost much more. Cost mainly depends on the complexity of the title issue and whether the action is opposed. Complex… Read More »How Much Does a Quiet Title Action Cost?
You just learned that your rental or investment property burned down. What are your legal rights? What are your risks? Can you collect on your insurance policy? Will the tenant sue you? I cannot answer all these questions at once,… Read More »WHEN A RENTAL PROPERTY BURNS DOWN: INSURANCE, LIABILITY, AND LEGAL RIGHTS
A quiet title action is a legal proceeding used to confirm or clarify the ownership of real estate. In simpler terms, it “quiets” any challenges or claims to the title of a property, hence the name. A successful quiet title suit… Read More »Understanding Oklahoma Quiet Title Actions
There is one tax rule that applies almost universally in the real estate industry: Never put real estate into a corporation (including S-corporations). Why not? Once you put an appreciating asset into a corporation, you cannot take it out without… Read More »WHY YOU SHOULD (ALMOST) NEVER PUT REAL ESTATE INTO AN S-CORPORATION.
Like a physical renovation, a legal renovation can transform the market value of a property. A physical renovation removes surface level flaws that have scared away the ordinary consumer, thereby increasing the market value of the property. Rather than seeing flaws, investors see solutions,… Read More »HOW TO INCREASE PROPERTY VALUE WITHOUT LIFTING A HAMMER (LEGAL RENOVATION VS. PHYSICAL RENOVATION)