As we get older, some things just get harder to manage. That goes especially for the traditional family home. When you’re in your 30s, maintaining a house with two big yards is something to look forward to on the weekend. But when you’re in your 60s, you just want to enjoy your retirement. For many of my parents’ generation – the Baby Boomers – the decision to downsize is a tough … [Read more...]
Real Estate Contracts: New Rulings Spell Warnings For Those Signing Contracts
A recent Revenue Ruling by the Commissioner of State Taxation has now made clear that the use and implementation of including the phrase 'and or nominee' in a contract, most likely for the purchase of land, is no longer required. A word of warning. If you think it is now safe to begin executing contracts for the purchase of land on behalf of family and friends and so on, think again. Signing a … [Read more...]
What is stamp duty and how do I avoid paying it?
As we enter the New Year many people use the holiday break as an opportunity to discuss the potential purchase of big ticket items. When speaking about ‘big ticket’ items I am specifically referring to the purchase of a new family home, investment property, or vehicle (car, boat). Similarly, January is frequently the time of year when many people start making plans to start a new business … [Read more...]
