Lyndsey and Sharon Ballinger didn’t expect a cakewalk when a job change took them clear across the country and back, especially with two young children. What took them by surprise, however, was that moving back into their own house would cost them their savings and property rights.
When I started practicing law decades ago, the tax part of estate planning focused almost exclusively on minimizing estate, gift and generation-skipping taxes (collectively, “Transfer Taxes”). Back then, the highest Transfer Tax rate was 70%, and the exclusion was only about $120,000.
The Oregon Senate has passed SB 608, a rent-control and evictions bill, which limits landlords’ rights in Oregon. The Senate majority leader’s office released a statement after the bill passed, saying, “Rent stabilization will help prevent price gouging,” and that “healthy and thriving families need safe and stable housing.”
The following is a letter to our 15 year-old Grandson, Jack who asked how we became successful landlords. Dear Jack: We can tell you are well on your way to being a successful businessman, by asking for our advice. So here goes!!!
DetailsNo one disputes that California has a big budget surplus. According to the Office of the Legislative Analyst, California has budget reserves in excess of $18 billion. Our budget reserves exceed the entire state budget of eighteen other states. One would think that the funds available for discretionary spending would chill any appetite for higher…
DetailsFed Chair Jerome Powell recently used the “patient” word again. He also added new words that the Fed can “wait and watch” before raising rates again. And he added another new word, that whenever interest rate increases resume, they will be “gradual.” The stock markets loved it! There are growing calls for President Trump and…
DetailsAccepting Rent If you serve a Notice to Quit on your tenant, you cannot accept rent past the expiration of that notice. Acceptance of the rent would invalidate your termination notice. If the tenant tenders you the full rental amount, you cannot accept it and then tender back that portion which extends beyond the expiration…
DetailsOn February 21, 2019, Governor Gavin Newsom issued a Proclamation of a State of Emergency in California. This proclamation affects quite a few counties, including Los Angeles, Orange, Riverside, San Bernardino, San Diego, Santa Barbara, and Ventura. Upon the issuance of a Proclamation of a State of Emergency, the provisions of CA Penal Code section…
DetailsWhat a difference six months make! During the summer, California zoomed to a $600,000 median price. I had been surprised that prices moved that quickly and had passed the previous highs set in 2007. Over the past six months, prices have softened along with sales volume. What was once at $600,000 in mid-summer turned to…
DetailsHello everybody. In case you have not heard, get ready for tenants having more time to pay their rent and it taking more time for landlords to evict them when they don’t! Starting September 1, 2019, the counting of days will be lengthened for the 3 days which must elapse after the service of a…
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