The mess left behind....
This article examines taxation of post-death foreclosures.
- Personal liability of the PR
- Probate section 10361 (very important to your's truly)
- Insolvency defense
The mortgage meltdown has produced so many upside down properties, many estates now have debt forgiveness tax issues, situations where there is no money to pay the costs of administration and other unforeseen issues. This article by Jim Lamping helps clarify the issues.
Click on the link above for the full text.
A good read.
No comments:
Post a Comment