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M1 M2 M3 M1 checking money
M2 saving money so with interest
M3 over $100K use for investor's parking
if M3 grow, then better stock one day or future
if M3 lower, then no hope
what is par?
BFP = bona fida purchaser
unconscionable = form of payment which is uncollectible, unredeemable and with no present value
hallmarks of exchange transaction = lack of good faith deposit + takeover existing financing by assumption
without liquidated damages provision in purchase agreement, seller is entitled to recover only 3% of his money losses caused by buyer's breach
waver of right agreement = retroactively extinguishes all all known claims on disputes the parties have between themselves.
interlineation = listing agents DELETE terms / provisions in signed purchase agreeement that have received by LINING THEM out with a pen/ covering them with white out
REVOKE (offer is revoked) = by lapse of time for acceptance stated in offer / if no time limit exists by lapse of reasonable time without communication of an acceptance
seller NET SHEET == ENCUMBRANCE of record + expenses of sale + adjustments & prorates for UNPAID / PREPAID items [please verify]
buyer COST SHEET = closing charges + acquisition costs of property [please verify]
carryback disclosure statement is to be signed by buyer & seller PRIOR TO = Signing purchase agreement
property NET OPERATING INCOME represents annual return the property delivers to owner which is accounted for as
a RETURN OF owner's original capital investment = depreciation
b RETURN ON owner's capital invesment = yield
annual increase in $ amount LEVIED by CONDO project's HOA as regular assessment = are limited to 20% [not 10%, not 5%]
HOA is obligated to provide doc requested by owner within 10 DAYS = after postmark of mailing / hand delivery to HOA of written request
seller and listing broker must each keep copy of lead based paint DISCLOSURE STATEMENT for at least = 3 years from the date of sale is completed
environmental hazards located on property which pose direct health threat to occupants = asbesto-containing building material + toxic mold + lead based paint
all records' of an agent's activitiies on behalf of buyer/ seller during the listing period must be retained by agent's broker for = 5 YEARS
TORT THEORY [not contract theory] = legal basis for broker'
agency law disclosure form is mandated to be presented to all parties, by brokers/ agents, when listing + selling + buying + leasing (FOR OVER 1 YEAR) property containing
a other than 1-4 residential property
c both a and b
B A C C D C A A C D
C A A A D C C C D A
C B B C D D C A D B
A D C A A D A A D A
D C B B C C A B D D
C C A D B C D D C D
B A D C B D C C A A
B A D A D B B A B D
C A A D B C B D D D
C B C A D D D D C B
Residue Method (Left Over)
use Direct Capitalization to determine the valueof one component of a property, the left over component, when the value of the other component is known (or is estimated by some other technique)
4-3-2-1 Rule (Depth Table)
Give a ballpark idea of value in relationship to depth. Not accurate because they do NOT consider the need for depth of particular users.
Based on this rough formula, loss of rear 25 % (1/4th) only reduce value of 10 %.
A Realized Gain will generally be recognized to the extent of Boot received. See Section 1031.
Example: Abel's land has a Tax Basis of $10,000. [low price now raised to more $$$]
It is worth $75,000. He exchanges the land under Section 1031 for Baker's warehouse worth $70,000 and $5,000 of cash.
Of Abel's $65,000 realized gain, $5,000 will be recognized.
[The amount of gain reported for income tax purposes.=== recognised gain = $5,000 == BOOT]
The $60,000 of unrecognized gain is deferred.