| Gifts |
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| A gift is a transfer of property without any money changing hands. The person who makes the gift is called the donor. The recipient is called the donee. The requirements of a valid gift are that the donor voluntarily intends to give property, which is delivered to and accepted by the donee.
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| The Doctrine of Waste |
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| The rationale behind the doctrine of waste is that one who is entitled to receive a future interest in real property is entitled to receive the property in the same condition it was in at the time the future interest was created by the original grantor. Although the doctrine of waste may prevent changes that increase the value of the property, more often it refers to action or inaction that damages the property in some respect.More... |
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| Foreign Investment in Real Property Tax Act FIRPTA |
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| In the year 1980, Congress enacted the Foreign Investment in Real Property Tax Act (FIRPTA). The law can be found at 26 U.S.C.S. § 1445. Briefly stated, the law provides that if a seller of real property is a "foreign person," the buyer must withhold a tax equal to 10% of the gross purchase price, unless an exemption applies under the law.
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| Private Mortgage Insurance |
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| If you purchase a home and make a down payment of less than 20% of the purchase price, you may be required to purchase private mortgage insurance (PMI). In essence, PMI is a fee which provides compensation to the lender in the event the borrower defaults on the mortgage.More... |
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| Allergic Reactions to Mold in a Home |
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| Every year, numerous people suffer ill health effects as the result of the presence of mold in the home. Mold may be any color, including black or white. The presence of mold in a home is the result of excess moisture.More... |
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