How To Minimize Or Eliminate Tax Liability Regarding Mortgage Debt Forgiveness
The general rule is that the forgiveness of debt is a taxable event. 26 U.S.C. § 61(a)(12). Debt forgiveness is included within the taxpayer’s gross…
Legal Alert Regardin FTC Mars Rule and Short Sales
With no sign of short sales going away any time soon and the ongoing need of legal representation to distressed homeowners, Arizona’s legal market is…
Do I Need an Attorney to Help Negotiate My Short Sale?
First, Arizona law regarding distressed properties and anti-deficiency statutes is often misunderstood and misapplied. If not handled correctly, homeowners could face huge liability for a…
Subcontractor Mechanics’ Liens Don’t Apply to Owner-Occupied Residences
The Valley’s real estate market has officially rebounded, and construction is booming again. Because most contractors don’t get paid until the job is complete, Arizona…
How to Increase Your Odds at Mediation
Most litigators won’t tell you this time-tested statistic: each party has a 50% chance of losing at trial. And juries can be unpredictable. Maybe that’s…
Vacation Rentals and the Super Bowl
The Valley will be the entertainment hub of the world in January/February 2015. Phoenix will host not only the Super Bowl, but also the NFL…
Love Your Neighbor
Most are familiar with the Judeo-Christian principle that “thou shalt love thy neighbor as thysef.” Unfortunately, not everyone actually practices this principal. And not all…
Court Awards $140,000.00 Commission Pursuant To Liquidated Damages Clause
Every now and then REALTORS® are faced with a tough decision when their client cancels the listing or cancels the purchase contract − extend grace…
What You Need to Know about the Economic Loss Rule
The Economic Loss Rule Prevents Recovery in Tort and In Contract for Purely Economic Loss Without Showing Separate Injury or Property Damage The economic loss doctrine…
Investor Beware
The U.S. Congress enacted the Protecting Tenants at Foreclosure Act (PTFA) in 2009 which provides new and unprecedented rights to tenants in the case of…
Sellers Not Required To Disclose The Presence Of Neighboring Sex Offenders
In some cultures it’s customary to meet the neighbors before purchasing a home. In the recent case of Lerner v. DMB Realty, LLC, the plaintiffs…
New Ruling Limits Homeowner’s Options Post-Foreclosure
A new ruling by the Arizona Court of Appeals limits a homeowner’s legal rights if certain steps are not taken prior to a trustee’s sale. …