Business Formation
Homestead Exemption Protects $400,000 of the Equity in a Home
Question: My parents only have their monthly Social Security payments for living expenses, and they have fallen behind on their mortgage payments for their Scottsdale condominium. Their mortgage lender has now scheduled a foreclosure sale in May. My parents’ Realtor says that their Scottsdale condominium has equity of at least $500,000, and that she is…
Read MoreDocumentation Necessary if Building Home with Next-Door Neighbor
Question: My next-door neighbor has a construction background. I can get construction financing. We want to buy an old home in downtown Glendale, and do a “scrape and build,” i.e., tear the old home down and build a new home. My next-door neighbor is fine with a “handshake” deal. In other words, everything would be…
Read MoreEmployee of LLC needs real estate license
Employee of LLC needs real estate license Question: Our family’s limited liability company (“LLC”) owns several manufacturing companies, but also owns three small office buildings in Glendale. My wife and I are the only members of this LLC. One of our employees is primarily in sales for one of our manufacturing companies, but he…
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