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Posts Tagged ‘Real Estate’

No Right to Visibility in Real Estate

March 19th, 2018

A Missouri court has ruled that a real estate owner does not have the right to have their building visible.  In the case before the court, a landowner objected to a sound barrier wall being built along a highway because it would block the view of his building.  The court ruled against the landowner.  If you have a real estate matter that needs to be addressed, contact our law office at 816-524-4949 or visit our website at Hoorfarlaw.com.

Title Insurance Claims

May 19th, 2016

title insurance (3)

If you purchased title insurance on a piece of real estate and you discover a title defect in your real estate, you may be able to sue your title insurance company and assert a title insurance claim.  When determining damages for your title insurance claim, you must consider the fair market value of the real estate at the time the title insurance was purchased and the fair market value of the real estate at the time of the title defect.  If you are facing a real estate issue or you believe you have a title insurance claim, contact our office at www.Hoorfarlaw.com or 816-524-4949.

Missouri Tax Sales

May 12th, 2016

tax sale

The Missouri Supreme Court has recently stated that anyone with a mechanic’s lien on real estate that is sold by a county at a tax sale is entitled to notice of the sale before the sale occurs.  Notice must usually be in the form of certified mail.  If you had an interest in real estate that you lost because of a county tax sale in Missouri, contact our office at 816-524-4949 or www.Hoorfarlaw.com.

Vacation Property

July 14th, 2015

vacation property

When you have real estate that generates rental income for you, you must report your rental income and rental expenses on Schedule F of your personal tax return.

However, there are certain limitations that can apply if you use the real estate for personal and rental purposes. The IRS considers real estate used personally if you use the property for yourself for the greater of 14 days or 10% of the total days you rent out the property. If you use the property for personal purposes as well, you must then divide the property’s total expenses between the rental portion and the personal use portion.

In addition to having to divide the expenses, you will not be able to deduct any rental expenses in excess of the rental income for the property.

Some examples of deductions that can be taken for rental property are mortgage interest, real estate taxes, casualty losses, utilities, maintenance, and depreciation. If you or someone you know is dealing with tax issues, we can be reached at Hoorfarlaw.com or 816-524-4949.

Title Issues with Tax Sale Properties

June 2nd, 2015

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If you or someone you know has bought real estate at a county tax sale and is having trouble selling the property because of title defects, there may be a resolution for you.  Actions to quiet title can be used to fix or remedy any title defects that are found by title companies.  If you need help with the title defects of real estate you purchased or own, contact our office at 816-524-4949 or www.Hoorfarlaw.com.

Selling Real Estate

March 18th, 2015

real estate

An Oklahoma court has stated that if a seller knows of something wrong with the property, but does not disclose the defect, then the seller could have to pay the buyer to fix the problem.  The key element in suing a seller for a defect is that the seller knew of the defect before the deal was finalized, but the defect was never disclosed to the buyer, and the buyer suffered some harm because of the defect.  If you are having real estate issues, feel free to contact our law office at 816-524-4949 or www.Hoorfarlaw.com.

Real Estate Trickery

June 6th, 2014

for sale 2

When dealing with professionals in real estate, including construction or improvement workers, a person may be able to sue for fraudulent misrepresentation if all of the requirements are met. The basics of fraudulent misrepresentation are that a person makes an unkept promise and that person had no intention of keeping that promise when they made it in the first place. In the case of Shawn Stevens vs. Markirk Construction, Inc., there may have been a fraudulent misrepresentation when a construction company says that land would not flood when they knew there was a possibility that it might.

Visit our website at www.Hoorfarlaw.com.