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Mortgages Tax Liability

The term "mortgage" typically refers to a mortgage loan.  A mortgage loan is a financing instrument where an individual or business borrows money to purchase property (usually real property) and... more +
The term "mortgage" typically refers to a mortgage loan.  A mortgage loan is a financing instrument where an individual or business borrows money to purchase property (usually real property) and uses that property as collateral for the loan. less -
Cadwalader, Wickersham & Taft LLP

Exchange Trust Certificates in REMIC Transactions Qualify as Stripped Bonds or Coupons

On November 24, 2023, the IRS released PLR 202347001, ruling that certificates issued from an “exchange trust” qualify as stripped bonds or stripped coupons within the meaning of Code Section 1286. The taxpayer in the...more

Akerman LLP

New York State Legislators Reintroduce Bill Proposing Tax on Mezzanine Debt and Preferred Equity Investments

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In the January 2023 legislative session, New York State Senators Salazar, Brisport, Hoylman, Jackson, Myrie, and Rivera submitted a bill, S-318 which seeks to impose a mortgage tax on mezzanine debt on, and preferred equity...more

Cadwalader, Wickersham & Taft LLP

The Changes Continue | February 2021 | Issue No. 21: New York Assembly-Sponsored Legislation Proposes New Tax on Mezzanine Debt...

Assembly Bill A3139 was introduced by Assembly Member Harvey Epstein on January 22, 2021. The bill is currently in committee but, if enacted, it will amend New York’s Real Property Law and Tax Law to require the recording of...more

Goulston & Storrs PC

New York State is Considering a (New) Tax That Would Apply to Mezzanine Loans and Preferred Equity

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A New York State legislative proposal (currently in committee review) would impose mortgage recording tax on mezzanine debt and preferred equity investments related to real property upon which a senior loan is being...more

Robins Kaplan LLP

Your Daily Dose of Financial News

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In naming Gregory Abel and Ajit Jain vice chairs, Berkshire Hathaway took another big step this week in laying out LAWB (Life After Warren Buffet)....more

Troutman Pepper

Unique New Jersey: Legal Pitfalls in Real Estate Transactions

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Real property transactions in New Jersey can trigger several tax consequences that must be addressed at the time of closing. In New Jersey, real estate deals are subject to a variety of unique requirements that can...more

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