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What is a Bankruptcy Auction?

  The primary lenders of the Toys ‘R’ Us company recently decided to cancel a bankruptcy auction of the company’s brand name as well as other associated intellectual property. Instead, the lenders intend to revive the Toys ‘R’ Us brand name as well as the Babies ‘R’ Us brand name as part of an effort to open new branding companies. The lenders also intend to develop the company’s international presence. In stating their decision to cancel the auction, the lenders stated that[...]

Recognizing Mortgage Fraud

Florida was recently ranked in a Core-Logic report as one of top three states in the country with a mortgage fraud risk. The other two states in the country with particularly high mortgage fraud rates include New Jersey and New York. Also according to the report, the risk of fraud in 2018 rose 10% as compared to 2017. In this current climate, Florida lenders must be particularly careful and proactive in preventing mortgage fraud. It helps to understand some of the important details about how mor[...]

Filing Bankruptcy Due to Medical Bills

  The constantly increasing price of medical care in the United States has created a substantial challenge for many families. As a result, statistics suggest that a large number of individual decide to file bankruptcy due to medical bills. Many families discover that bankruptcy can be a particularly helpful thing in these situations. The bankruptcy process is complicated, however, which is why many individuals decide to obtain the assistance of an experienced Florida bankruptcy attorney. Ch[...]

When is it Okay to File for Bankruptcy?

One of the most common problems faced by people who are overwhelmed with debt is determining when it is okay to file for bankruptcy. Even if people are struggling with their bills, it can be difficult to decide that bankruptcy is the best option. The following will review several of the questions that you should ask yourself to determine whether you are ready to file for bankruptcy. If you do decide that bankruptcy is a good option for you, should not hesitate to obtain the assistance of an expe[...]

What Florida’s New Private Beach Ordinance Means for You

  Earlier in 2018, Governor Scott signed a bill into law that had a substantial impact on beachfront communities in Florida as well as businesses in the surrounding area. While the exact impact that this law will have on many pieces of Florida property is uncertain, some people have responded to the law as a significant limitation on the rights of property owners. The Basis of Florida Beach Access Ordinances Beach access ordinances in Florida are based on the legal principle of “customar[...]

The 11th Circuit Clarifies “New Value” Defense

  If you are new to the bankruptcy process, you might never have heard of the “new value” defense that applies in situations in which a company is providing goods to the party that declares bankruptcy on credit at a periodic rate and paid the company in the preference period, or the 90 days leading up to filing for bankruptcy. This defense often helps companies who are owed money ultimately lower the amount to be paid during the preference period. In many situations, however, establishi[...]

Florida Voters Poised to Increase Homestead Property Tax Exemption

Florida residents are poised to vote on an amendment called ”Increased Homestead Property Tax Exemption,” which if passed will give an additional tax advantage to homestead property that has an assessed value of greater than $100,000 and less than $125,000. Meanwhile, homestead property that is valued at greater than $125,000 would receive the entire savings. It is important to note that this valuation is based on the home’s assessed value rather than its market value. For qualifying membe[...]

What You Should Know About Fractional Investment

  Unfortunately, not everyone has the resources to independently fund real estate investment. To increase the number of people who are able to become involved in real estate investments, fractional investments were created, which allow several individuals to become involved in real estate projects. One of the effects of this new law has been that more people are now allowed to become involved with real estate projects. Many people, however, still have questions about how fractional investme[...]

Rebuilding Your Credit Rating After Bankruptcy

Bankruptcy offers a second chance to rebuild your credit and continue onward with your life. Unfortunately, your credit score will temporarily fall after declaring bankruptcy. During the period immediately after bankruptcy, individuals often find it challenging to do things like rent an apartment or purchase a car or home. There are, however, some pieces of advice that you can follow after declaring bankruptcy to immediately begin improving your credit score.   Avoid Repeating Your Mistakes If[...]

What are Section 1031 Like-Kind Exchanges?

If you sell a piece of investment property, you will often be required to pay tax on it, as well. In situations in which a person then uses these gains to buy another piece of investment property, that person will likely be taxed a second time. Section 1031 of the tax code offers an investor the option to only pay taxes once on certain types of investment properties. Because Section 1031 can be particularly advantageous for investors, it is important for investors to understand how this section [...]