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State Real Estate Laws And Legal Information Nolo

1 days ago

Real estate practices across the United States vary widely, and are a mix of law and tradition. For example, in some states, a lawyer's help is required to close the purchase, and in others not. Learn about buying, selling, and owning residential real estate in your state and get advice concerning your real estate questions. California. Florida.

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Real Estate Terminology For Home Buyers Nolo

8 days ago

Real Estate Broker. A real estate professional licensed to negotiate the purchase and sale of real estate for a commission or fee. In most states, a broker is one step up from a real estate agent, having more training and the power to supervise agents. However, in some states, the term "broker" is …

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Common Types Of Real Property Ownership Nolo

1 days ago

Real Property Ownership Types. Here are some common ways to own real estate. Fee simple. This is the most common type of interest. It is outright ownership. Even if you still owe money on your mortgage, as long as you have the right to sell the house, leave it to your heirs, and make alterations, your ownership is fee simple.

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Taxes You Need To Pay When Selling Rental Real Estate Nolo

9 days ago

Your gain or loss for tax purposes is determined by subtracting your property's adjusted basis on the date of sale from the sales price you receive (plus sales expenses, such as real estate commissions). Your basis in property (the amount of your total investment in …

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The $250,000/$500,000 Home Sale Tax Exclusion Nolo

5 days ago

Here's the most important thing you need to know: To qualify for the $250,000/$500,000 home sale exclusion, you must own and occupy the home as your principal residence for at least two years before you sell it. Your home can be a house, apartment, condominium, stock …

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Adverse Possession: When Trespassers Become Property

5 days ago

Real Estate Buying a House or Property Neighbors Selling a House Mobile, Manufactured, and Tiny Homes Homeowners: Taxes, Improvements, and More Popular Products from Nolo Neighbor Law Nolo's Essential Guide to Buying Your First Home Selling Your House

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If You Inherit A Home Do You Qualify For The $250,000

7 days ago

For married homeowners filing jointly, up to $500,000 of gain is excluded from income. To qualify for the exclusion, the home must have been used as a main home for two years out of the prior five years before the sale. For details, see The $250,000/$500,000 Home Sale Exclusion. At the time you inherit a home, you won't qualify for this exclusion.

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Are You Getting All Your Florida Property Tax Breaks

7 days ago

Primary home (homestead): If you own a house in Florida as your permanent residence, you may be entitled to a property tax exemption, known as a "homestead exemption," of up to $50,000. The first $25,000 applies to all property taxes, including school district taxes. The additional exemption up to $25,000 applies to the assessed value.

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Deducting Expenses You Incur Before Your Real Estate

3 days ago

attending real estate seminars or conferences or other educational programs or classes insurance premiums (but not title insurance) maintenance costs for a rental property paid for before the property is offered for rent—for example, landscaping and utilities (but not the cost of connecting utilities)

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Selling Your Home In A Hot Market Nolo

8 days ago

Real estate sellers might think that a "hot" market means fast, easy money for their home. After all, a hot market means low inventory combined with lots of buyers looking for the perfect place. In many instances, a hot market does indeed mean a faster sale at or above asking price.

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Earnest Money: What Happens When Your Home Purchase Falls

9 days ago

In nearly every real estate purchase contract, the seller will require that the buyer deposit earnest money—a sum of money that the buyer puts into trust during the transaction to demonstrate good faith.The earnest money amount is often dictated by the seller, and can be a flat price or a percentage of the purchase price. The purpose of earnest money is to provide the seller with

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Selling A House Nolo

3 days ago

Potential for conflicts of interest and lack of a committed negotiator when house buyer and seller use the same real estate agent. How to Interview a Prospective Agent to Sell Your Home. Questions to ask when choosing a real estate agent to sell your house.

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How Long Do I Have To Withdraw An Offer To Buy A House

5 days ago

Simply have your real estate agent get in touch with the seller's agent, most likely orally at first, quickly followed up by a written confirmation. Getting Out of a Signed Contract to Buy a House. After you are in contract, the situation changes.

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How To Describe Property In A Will Nolo

1 days ago

Real Estate. You can simply provide the street address or, for unimproved property, the name by which it is commonly known. For example: my condominium at 123 45th Avenue; my summer home at 84 Memory Lane in Oakville; the vacant lot next to the McHenry Place on Old Farm Road

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States That Allow Transfer-On-Death Deeds For Real Estate

5 days ago

If you own real estate in any of the states listed below, you can use a TOD deed to leave that real estate to someone. Like regular deeds, TOD deeds must be signed, notarized, and filed in the county's land records office. You don't have to be a resident of the state to use a …

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Should You Hire A Real Estate Agent Or Lawyer To Buy A

3 days ago

Real estate agents normally work on commission, not salary. They receive their slice only after your home search is over, the contract negotiated, and the transaction complete. (In many cases, they end up doing a lot of work for nothing, perhaps because the buyers lost interest or can't close the deal.)

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Real Estate Trust Or LLC

7 days ago

Estate planning. For people looking to ensure that their investment property avoids death taxes, transferring it to heirs by way of a real estate trust can be a workable option. Some level of anonymity. At one time, real estate trusts were a great way for investors to remain anonymous.

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The Basics Of Rent-to-Own Agreements Nolo

5 days ago

In some states, landlords who lease a home with an option to purchase must disclose important information about the condition of the property, providing extra protection to tenants who are buying a home under a lease-option agreement. Check your state law on required real estate disclosures. Is a Rent-To-Own Agreement for You?

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Intestate Succession: How An Estate Is Settled If There's

9 days ago

real estate or vehicles held with a transfer-on-death (TOD) deed or title document. To find out who inherits these types of property, you'll need to locate the documents in which the co-ownership or beneficiary designation was established.

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Home Buying Timeline: From Offer To Purchase Contract Nolo

3 days ago

With any luck, after submitting the offer to buy a house, the first thing you'll hear back from your real estate agent is that the seller is interested in going forward. But that doesn't yet mean you're in contract; that is, mutually bound to complete the sale. It's rare for a seller to accept a buyer's offer as written.

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How Joint Owners Can Transfer Survivorship Property After

6 days ago

Real Estate. Laws affecting real estate are always set by the state in which the real estate is located. To transfer jointly owned real estate to the surviving co-owner, you'll have to find out the exact procedure for your locality. The general idea is the same everywhere, however. You need to put a document on file in the local public land

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What Form Should I Use To Make A Home Purchase Offer

7 days ago

Real Estate Buying a House or Property Neighbors Selling a House Mobile, Manufactured, and Tiny Homes Homeowners: Taxes, Improvements, and More Popular Products from Nolo Neighbor Law Nolo's Essential Guide to Buying Your First Home Selling Your House

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What Is A Lien On Your Property Nolo

3 days ago

When it comes to real estate, depending on state law, some liens, such as property tax liens, mechanic's liens, and homeowners' association and condominium association assessment liens, get priority over previously recorded liens. What Are Some Common Types of Liens for Real Property?

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Reducing Capital Gains Tax Using Expenses Of Sale Nolo

1 days ago

They pay a 6% sales commission to their real estate broker ($48,000) and another $22,000 for attorney fees, closing costs, escrow, and closing fees. They subtract these sales expenses from the sales price to determine the amount they realized from the sale. $800,000 - $80,000 = $720,000.

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Tax Benefits Of Selling Your House By Installment Plan Nolo

3 days ago

Installment sales of real estate are a form of seller financing. Instead of borrowing money from a bank or other financial institution to pay the seller, the buyer borrows from the seller. The buyer and seller enter into an installment agreement in which the buyer agrees to make a down payment and pay the remainder of the sales price over a

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Are You Getting All Your Ohio Property Tax Breaks

4 days ago

Method #2: Find All Tax Breaks to Which You're Entitled. In addition to trying to reduce the taxable value of your home, Ohio property tax law allows for reduced property taxes if you meet certain requirements. Below is a summary of the most common such programs in Ohio. Senior homestead exemption.

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What "Open And Notorious" Use Of Property Means For An

8 days ago

7031 Koll Center Pkwy, Pleasanton, CA 94566. master:2021-04-26_12-23-46. An important element of establishing a claim to another person's land using the legal doctrine of adverse possession is that trespassers must be “open and notorious” in their use the disputed land. That's on top of the other requirements that the use be hostile, actual

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Buying A Home In New York: What It Means To Be "In

8 days ago

Most residential real estate contracts in New York contain a provision entitling sellers to keep the downpayment as "liquidated damages" if the purchaser defaults. A default happens if you refuse to close for a reason not contemplated in the contract. Rest assured, however, that if your contract contains contingencies, or conditions based upon

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Tax Advantages To Landlords Married To Real Estate

3 days ago

Real estate professionals also are not subject to the Net Investment Income tax (NII tax). The NII tax is a separate flat 3.8% income tax on unearned income, including rental income and gains from selling rental property. You're only subject to the NII tax if your adjusted gross income for the year exceeds $200,000 if you're single, or $250,000

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Selling My House: Do I Have To Disclose A Previous Death

Just Now

My real estate agent seems to think I shouldn't worry about this, but I am worried. Do I legally need to tell buyers about the recent death? Will it drive away buyers? Answer. What you're talking about is the issue of "psychological damage" to a property, to be distinguished from "physical damage." In some cases, the psychological damage is so

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Hawaii Estate Tax Nolo

2 days ago

An estate is taxable in Hawaii if the amount of the taxable estate, as calculated on the federal estate tax form (IRS Form 706, line 3a) is more than $5.49 million). To determine whether or not a Hawaii estate tax return is required, your executor will start by calculating the value of your gross estate. It will include the value of: Real estate.

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Cook County Real Estate Lawyers Nolo

1 days ago

Residential real estate transactions, estate planning and real estate tax rate objections attorney Chicago, IL With more than 30 years of experience, attorney Katharine Barr Tyler is known for her integrity and dedication to effective, efficient and knowledgeable legal representation.

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Intestate Succession In Texas Nolo

1 days ago

spouse keeps 1/2 of the community property, 1/3 of your separate personal property, and the right to use your real estate for life; children inherit everything else, including your 1/2 interest in the community property; a spouse and parents

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Do I Need A Special Real Estate Agent To Buy Vacant Land

6 days ago

Typically, residential real estate brokerage agencies don't specialize in different kinds of real estate (for example, rental apartments or single-family homes). However, individual brokers who are affiliated with that agency might be specialists, or at least experienced, in specific kinds of real estate.

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Riverside County Real Estate Lawyers Nolo

8 days ago

Riverside County Real Estate Lawyers. check_circle Open for Business. check_circle Offers Video Calls. Slovak Baron Empey Murphy & Pinkney LLP. The foundation of the firm is hard work, creative and aggressive advocacy, and an unwavering focus on the needs of our clients. Our goal in every matter is to achieve the best possible result for

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Arlington County Real Estate Lawyers Nolo

6 days ago

Alexander Laufer - Medical Malpractice and Real Estate Attorney. Fairfax, VA. Eisenhower & Laufer P.C. has been actively involved in the Northern Virginia area since 1985. Alexander Laufer is an experienced attorney and has personally handled thousands of real estate transactions and hundreds of complex litigation cases over the past 25 years.

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Florida Real Estate Lawyers Nolo

8 days ago

Established firm advocates for clients in estate planning, real estate and civil litigation cases For more than 25 years, lawyers at Watson, Soileau, DeLeo, Burgett & Pickles, P.A. have been successfully serving clients in Cocoa, Florida, nearby Merritt Island and …

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What Is A Revocable Living Trust And Why Make One

8 days ago

A revocable living trust is a popular estate planning tool that you can manage during your lifetime and use to leave property when you die. Using a revocable living trust can avoid probate, which can be a complex and time consuming process, and estate taxes. Revocable living trusts are easy to set up and can be created without the help of a lawyer.

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Oregon Estate Tax Nolo

2 days ago

Information about the Oregon estate tax is available from the Oregon Department of Revenue. When an Estate Tax Return Is Required. If the gross estate of an Oregon resident has a value of more than $1 million, the executor must file a state estate tax return. Your gross estate will include everything you own at your death: Real estate

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Probate Shortcuts In Hawaii Nolo

5 days ago

The clerk distributes the estate assets to the inheritors after 60 days if the estate's value is $10,000 or less or after four months if it is greater than $10,000. The assets are distributed in the following priority: homestead allowance up to $15,000 for the surviving spouse or minor child

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Sample Gift Letter Nolo

3 days ago

Home Legal Topics Real Estate & Rental Property Buying a House Getting a Mortgage. Sample Gift Letter for Use When Taking Out a Home Loan. Find out what language to include in a letter from relatives or friends who are giving money toward your down payment for a house. By Marcia Stewart.

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Intestate Succession In Virginia Nolo

4 days ago

To inherit under Virginia’s intestate succession statutes, a person must outlive you by 120 hours. So, if you and your brother are in a car accident and he dies a few hours after you do, his estate would not receive any of your property. ( Virginia Code § 64.2-2201 .) Half-relatives.

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About nolo.com real estate

7031 Koll Center Pkwy, Pleasanton, CA 94566. master:2021-05-24_10-55-33. Whether you're a homeowner, aspiring house buyer or seller, or just live close to neighbors, you'll find a wealth of real estate information here.

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Total: 43 New Post

FAQ?

Is real estate a good investment right now?

Real estate is generally a great investment option. It can generate ongoing passive income and can be a good long-term investment if the value increases over time.

How much can you make in real estate?

Real estate is often a referral-based business. Those who are involved in the business longer typically are the most successful. Those with 16 years or more experience earned the highest real estate income: approximately $78,850 on average.

What is the best real estate market?

Dallas tops the list of real-estate markets over the period studied, exhibiting strong price appreciation, while remaining a market in which investors saw strong rents relative to property values.

What is the most expensive real estate in the US?

Manhattan real estate is the most expensive in the US per square foot with some properties topping $10,000: Study. Move over San Francisco — the Big Apple tops Silicon Valley as most expensive place to live in the United States, a new study shows.

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