1031 Like Kind Exchange

A like kind, tax deferred exchange is based in the IRS Code Section 1031. This section allows an investment property owner to exchange (sell and purchase) a business or investment property for another business or investment property and to defer the tax on the gain of the sale. There are very specific rules that must […]

Using a Power of Attorney

In the event a buyer or seller cannot attend a real estate settlement, a Power of Attorney (POA) can be used to have closing documents signed on their behalf. In the State of Maryland it is suggested that you use a statutory POA form when such a power is needed. The buyer or the seller […]

Who signs on behalf of an entity?

The issue that comes up often when an entity is involved with a sale is; who has authority to sign on behalf of the entity? If a limited liability company is involved, the Operating Agreement is needed. The LLC should have an Operating Agreement that details how the company is to operate. This is NOT […]