The lien applies to all of the property owned by the PRP and not just the portion of the site affected by the cleanup. However, the lien is subject to the rights of bona fide purchasers and previously perfected interests in the property so it does not act as a “superlien”. The lien becomes effective when EPA incurs response costs or notifies the property owner of its potential liability whichever is later, whichever date is later. Although the lien was enacted as part of the 1986 Superfund Amendments and Reauthorization Act (SARA) to CERCLA, it applies to costs incurred prior to the passage of SARA. The lien continues until the PRP resolves its liability or it becomes unenforceable though operation of the CERCLA statute of
Portofino Estates POA REQUEST FOR APPROVAL - LEASE PLEASE READ CAREFULLY AS MISSING INFORMATION WILL DELAY PROCESSING ALL of the following information must be submitted to the Board of Directors for consideration BEFORE APPROVAL IS GRANTED for the leasing of your property. □ □ □ □ □ □ □ □ □ □ A $100.00 non-refundable screening fee PER APPLICANT (husband and wife shall be considered to be one applicant) from the prospective Tenant or Owner in the form of a Money Order or Cashier’s Check only. Please make payable to “Portofino Estates POA”. Personal checks or cash will not be accepted. Request for Approval Cover Page (included in this packet) A copy of the fully executed “Application for Lease / Residency” (included in this packet).
An owner of a condominium has the right to: (Points : 2) Landscape common grounds Remodel the condominium Paint the common hallways Refuse to pay for condominium maintenance 5. Legal actions in which a mortgagee terminates a mortgagor's interest in mortgaged premises is: (Points : 2) Right of survivorship Foreclosure Eminent domain Licensing agreement 6. The Fair Housing Act is a U.S. law that regulates: (Points : 2) Grantors Mortgage companies kucourses.com/re/DotNextLaunch.asp?courseid=7026057&userid=12544991&sessionid=a44b980478… 1/2 9/25/12 PA106: Legal Terminology and Transcription Condominiums All of the above 7. The most complete estate in land is called: (Points : 2) Life estate Joint tenancy with right of survivorship Quitclaim deed Fee simple 8. A landlord of leased property may be sued by the tenants under the principles of: (Points : 2) Reversion Warranty deed Warranty of habitability Possibility of remainder 9.
A county or municipal authority usually grants a certificate of occupancy for new construction only after what happens? c) The construction complies with building codes. Correct 3. “Let’s not do business with AVC Real Estate Company; they discount their commissions” is an example of what? a) Price fixing.
[LO 1] Under what circumstances, if any, can a taxpayer fail to meet the ownership and use requirements but still be able to exclude all of the gain on the sale of a principal residence? The taxpayer may be able to exclude the gain on the sale of a principal residence when she sells the home due to unusual
First the classification of the arrangement is an operating lease. A lease is an operating lease if it does not meet any of the four criteria in 840-10-25-1. This includes a lease that involves real estate and gives rise to manufacturer’s or dealer’s profit (or loss) to the lessor but that does not meet certain criteria in 840-10-25-1 (a). The first provision has to deal with the Lessee’s responsibility to perform general repairs and maintenance under (ASC 840-10). The second provision is telling NeedsSpace that they will have to retire their assets that they make on the premise under (ASC 410-20).
Since NeedsSpace neither has the option to renew the lease nor the ability to negotiate for renewal, it is probable that WeHaveIt will want the premise restored back to its original condition. Hence, there will be a loss from the removal of the leasehold improvements when the lease expires in ten years. Leasehold improvements in operating leases are amortized over the shorter of (1) the useful life of the assets, or (2) the lease term that is deemed reasonably assured at the date the leasehold improvements are purchased (ASC 840-10-35-6). In this lease, the useful life of the assets is the same as the length of the lease term. Therefore, NeedsSpace should amortize the leasehold improvements over ten years.
Applied Business Law Individual Work Week 10 Linda Baker Everest University Online June 22, 2012 Instructor Antonia Asterino Insurable Interest The insurable interest must exist when the policy was purchased and at the time of the loss. (1) If you would sustain a loss financially from the property’s destruction, then you have insurable interest. (2) Interstate Distribution Corporation bought Eagle Sales Company and put insurance on the property. Interstate had possession of the property when the policy was taken out. Eagle Sales Company did not have any insurable interest in the property.
Specifically he would like to deduct it other than as a miscellaneous itemized deduction, which would give him no tax benefit due to the Alternative Minimum Tax. Discussion and conclusion: Since Joshua’s damage award is considered part of his gross income, the concern is whether he can deduct the contingency- based attorneys fees. If the damage incurred in connection with a trade or business, than he would be able to deduct this expense on schedule C, assuming he is self-employed. Or he can deduct it as a miscellaneous itemized deduction; due to the fact that he is subject to the
Petitioner has paid the mortgage since the date of separation by agreement. Respondent is requesting that the community property be listed with a realtor and sold at fair market value. Any proceeds from the sale would go to the mortgage then be equally split between the parties. Respondent has asked to stay on the property until sold as she does not have the resources to get another place to live while the sale is pending. Petitioner’s Proposed Resolution of Issues was amended to change a typographical error in paragraph two.