0
What else can I help you with?
What is intangible property in terms of taxation?
properties that cannot be touched like copyright or patent. Property you cant touch. Like a court settlement not reached. defined as identifiable non-monetary assets that cannot be seen.
Will your tax refund be taken to pay back your debt if you file for bankruptcy?
Tax Refunds and ReturnsThere is no specific protection for tax refunds in bankruptcy. As such, the "wild card" exemption* is used to try to protect these funds as much as possible. Further, any portion of your tax refund that pertains to the "earned income credit" is also fully protect and yours to keep.In a Chapter 7 Bankruptcy, you may lose all or part of your tax refund due for the tax year in which you filed your bankruptcy. For example, if you file for bankruptcy in 2009, your Trustee may be entitled to all or part of your 2009 refund, which is due from the tax return that you will be file in 2010.If you file for bankruptcy today, you must provide copies of your tax returns for the years 2008, 2007, 2006, 2005, and you may have to provide a copy of your 2009 tax return when it is filed, to the Trustee. In a Chapter 13 Bankruptcy, you must also provide copies of your tax returns to your Trustee during the term of your Chapter 13 Bankruptcy. You will generally lose tax refunds during the entire term of your Chapter 13, not including any amount that can be protected by the "wild card".-------* The wildcard exemption is $1,000 per person. It allows you to retain up to $1,000 of assets (cash, accounts, property …) that is not otherwise protected when you file for bankruptcy.
When a person receives an auto insurance settlement payment is the insurance company sending any notice of that payment to the IRS?
Payments of this kind are not taxable at all. This is considered as compensation for a loss of some kind be it injury or property.
What are the types of confidentiality documents stored in real estate offices?
Real estate offices typically store various types of confidentiality documents to protect sensitive information. These may include client confidentiality agreements, non-disclosure agreements (NDAs) for potential property transactions, privacy policies outlining data handling procedures, and confidentiality clauses within contracts to safeguard client details. Additionally, documents related to property appraisals, financial statements, and negotiations may also be treated with confidentiality to ensure client privacy and compliance with legal regulations.
Cash for Settlement?
Those persons who are receiving a settlement or annuity in increments can sell the settlement agreement as if it were property. A settlement is viewed as an asset that can be sold for cash. Buyers of settlement agreements take over the future payments of the agreement. They also charge a fee for their services. Getting cash for settlement payments is a lot like getting a cash advance loan. The fee for selling the settlement is higher than what would be charged for getting a loan. The company that provides the advancement of full or partial settlement money then receives the scheduled payments until the total advanced plus any fees is recovered. There are many reasons why a person would want to sell a settlement agreement. Many people want to pay off a home or vehicle, or attend college. They may have a large medical bill that demands payment. Settlement agreements are set up to the advantage of the person or company that must pay out the long term payments. It makes paying a large court award feasible for some. As with any cash advance, the reason why a person wants to get out of a settlement agreement with long term future payments is their own business. The lender just wants to be sure that they make a profit and will be repaid. In some cases, the court must approve sale of a settlement agreement. For some people, the court has supervised a settlement and is acting on behalf of that person. A long term settlement payout benefits the person receiving the settlement money because it will provide them with long term income. This is especially useful if a person has been severely injured and cannot work or requires long term care. If that person sells off their settlement, they may find themselves without the long term income they need. Selling a settlement requires careful thought, but you can get cash for a settlement. Consult with your attorney regarding the legal questions or restrictions that may apply. If you take cash for settlement, the total amount you receive will be less than under the structured plan originally set up in court.
What services does homeselect solutions llc provide?
Homeselect Solutions LLC offers a range of services focused on property management and real estate solutions. Their offerings typically include property maintenance, tenant placement, and leasing services. Additionally, they may provide consulting for property investment and management strategies, helping clients maximize the value of their real estate assets. For specific services, it's best to check their official website or contact them directly.
Can i file Chapter 7 to get out of paying my ex for property settlement?
If that's the only reason to file for bankruptcy, probably not. ALL debts must be listed and treated equally, so if you want to get the ordered property settlement discharged, all your other debts must also be proposed for discharge. Even if you get a discharge on the property settlement, which may not be possible in certain bankruptcy court districts of states, you will be open to contempt charges in the divorce court and still be required to pay the settlement. To be sure, consult a local experienced bankruptcy lawyer.
What do you do with property that has been unclaimed in a bankruptcy?
It depends. Depending on the interest of the Trustee in Bankruptcy, and whether or not they have abandoned the property, will determine whether or not the debtor in Bankruptcy will be permitted to take the property if the creditor has abandoned the property. Bottom line is that it depends on the facts, contact your Bankruptcy attorney or a reputable Bankruptcy attorney to get more information.
How will bankruptcy affect the sale of real estate property?
No property can be sold, transferred, refinanced, etc. while in bankruptcy without the permission of the bankruptcy court.
What is the property limit you can include on a bankruptcy?
If by "property limit" it is meant what personal and real property can be exempted from bankruptcy, that is determined by the type of bankruptcy you must file, federal or state. To discover what the type and amount of property one is allowed to exempt you can search federal bankruptcy exemptions or (name of state) bankruptcy exemptions; in a few states the person can choose to use either set of exemptions or a combination thereof.
Can you do a short sale after a house was included in a bankruptcy?
No. The title to the property is encumbered by the bankruptcy. You would need the court to release the property in order for you to be able to sell it. You should discuss it with your attorney.No. The title to the property is encumbered by the bankruptcy. You would need the court to release the property in order for you to be able to sell it. You should discuss it with your attorney.No. The title to the property is encumbered by the bankruptcy. You would need the court to release the property in order for you to be able to sell it. You should discuss it with your attorney.No. The title to the property is encumbered by the bankruptcy. You would need the court to release the property in order for you to be able to sell it. You should discuss it with your attorney.
While in bankruptcy can you lease your property?
Yes
If you file a bankruptcy will your holdings in another country be protected?
In a US bankruptcy, you will have to turn over all property of the estate. Out of country assets are property of this estate.
Does bankruptcy attorney keep rental property income?
The answer to this question depends on whether you are filing Chapter 7 or Chapter 13 bankruptcy. In Chapter 7 bankruptcy, if the rental property has equity, meaning that the value of the property exceeds what is owed on the property, the trustee would almost definitely seize property and sell it to satisfy some or all of your unsecured debts.
How long do you have to wait to file bankruptcy after I have passed a property on to your son?
Thank you for passing your property to my son. Since I do not have a son, I guess it remains in limbo. If your son paid you the value (equity) of your home, you will have to disclose the transfer, but it will have no effect on your bankruptcy. If you gave the property to your son for free, and there was equity in the property, probably two years, if you gave the property knowing you were insolvent and intending to deprive your bankruptcy estate of the asset. It would have been better to discuss this with a bankruptcy lawyer before passing the property, as you might have been able to exempt the property in the filing.
Can bankruptcy be filed on partially own property?
The answer to this really depends on the nature of the property and how it is held (i.e. tenants in common, joint tenancy). You can file for bankruptcy for your personal debts. If the ownership debt is easily severable then it is likely that you would be able to file for bankruptcy and include the property as well.
Do you have to declare bankruptcy if you default on your mortgage?
No. If you default on your mortgage the lender will take possession of the property by foreclosure. Whether you file bankruptcy is an unrelated issue.No. If you default on your mortgage the lender will take possession of the property by foreclosure. Whether you file bankruptcy is an unrelated issue.No. If you default on your mortgage the lender will take possession of the property by foreclosure. Whether you file bankruptcy is an unrelated issue.No. If you default on your mortgage the lender will take possession of the property by foreclosure. Whether you file bankruptcy is an unrelated issue.
