Family Owned Real Estate: Legal Challenges & Opportunities
Once Removed Episode 21: Passing Down the “Family Cottage” or Other Legacy Property
War of the Rosas
On August 28, 2024, the Financial Crimes Enforcement Network (“FinCEN”) issued its “Anti-Money Laundering Regulations for Residential Real Estate Transfers” (the “Final Rule”), to become effective December 1, 2025. This Final...more
The American housing market is grappling with escalating interest rates and limited inventory, pricing many Americans out of home ownership. Massachusetts’s senior Senator Elizabeth Warren seeks to address this issue in the...more
In the world of farming and ranching, ensuring your land's future is vital. That's where agricultural estate planning comes in. It's all about smoothly transitioning your farm or ranch to the next generation, maintaining its...more
In BLF LLC v. Landing at Blanco Prop. Owners Ass’n, member of a home owners association sued to prevent the association from selling certain common area property. No. 03-22-00423-CV, 2023 Tex. App. LEXIS 9300 (Tex....more
The U.S. Department of the Treasury's Financial Crimes Enforcement Network (FinCEN) on Feb. 7, 2024, issued a Notice of Proposed Rulemaking (NPRM) proposing a new nationwide reporting obligation to be imposed on settlement...more
KEY FACTS OF REAL ESTATE ACQUISITIONS UNDER BRITISH LAW - 1. Introduction - Historically, there has been significant investment by overseas individuals and corporations in real estate in England and Wales and in...more
KEY FACTS OF REAL ESTATE ACQUISITIONS UNDER CYPRIOT LAW - A. General - 1. Introduction - Cyprus is a common law jurisdiction, and its legal system is based on the UK one. It is a clear and robust system which leaves...more
In In re John O. Yates Trust, a trustee of a trust filed suit to obtain declarations on whether it could sell certain real estate held in the trust, and if so, whether the proceeds should be designated as principal. No....more
KEY FACTS OF REAL ESTATE ACQUISITIONS UNDER CYPRIOT LAW - A. General - 1. Introduction - Cyprus is a common law jurisdiction, and its legal system is based on the UK one. It is a clear and robust system which...more
KEY FACTS OF REAL ESTATE ACQUISITIONS UNDER CYPRIOT LAW - A. GENERAL - 1. Introduction - Cyprus is a common law jurisdiction, and its legal system is based on the UK one. It is a clear and robust system which...more
Below is a brief glance of what you'll find in the March/April 2021 issue of The Estate Planner. - Can beneficiaries borrow from a trust? - Taking steps to protect your will from being contested - Defined-value...more
In Pense v. Bennett, the ward in a guardianship proceeding sued to invalidate the sale of real property from a trust created for his benefit to an affiliate of the trustee. No. 06-20-00030-CV, 2020 Tex. App. LEXIS 8002 (Tex....more
Recently passed Proposition 19 will seriously limit the ability to transfer California real property to a child without causing a reassessment and higher property taxes. The new law takes effect February 16, 2021, so if you...more
Two recent High Court cases have considered the principles underpinning the Court’s power to set aside or rescind a voluntary disposition on the grounds of mistake. In the cases of Hartogs v Sequent (Schweiz) and Payne v...more
The Tel Aviv District Court handed down a decision a few days ago rejecting the Israel Tax Authority’s (ITA) position on the conveyance of real estate properties to trusts. This decision dramatically changes the taxation of...more
KEY FACTS OF REAL ESTATE ACQUISITIONS UNDER BRITISH LAW. Introduction - Historically, there has been significant investment by overseas individuals and corporations in real estate in England and Wales and in particular in...more
The Supreme Court of California is slated to review a 2014 decision by the California Court of Appeal for the Second District, which held in 926 North Ardmore Avenue, LLC v. County of Los Angeles that a change in ownership of...more
A question I am often asked is, “If I have designated my various financial accounts as transfer on death (TOD), or payable on death (POD), and I have a transfer on death deed on my house, why do I need a Living Trust?” While...more
The fiduciary field in Texas is a constantly changing area. Over time, statutes change, and Texas courts interpret those statutes, the common law, and parties’ documents differently. This paper is intended to give an update...more
In This Issue: - Alternate valuation date: Flexible postmortem planning a plus when markets are volatile - The write stuff: A letter of instructions - Making the most of your GST tax exemption - Estate...more
On 11 May 2016 in case no. 14/26247, the Paris Court of Appeal fully confirmed the judgment handed down by the Paris High Court on 2 December 2014 in case no. 10/05228, relating to the estate of Mr Maurice Jarre. By...more
Often the most difficult asset for which to plan in an estate plan is non-commercial real property such as a family farm, a hunting cabin or other recreational property. This is especially true when the property makes up a...more