Back in 2013, I wrote in this blog about some surprising restrictions on the home mortgage interest deduction. In one of the instances noted, two unmarried persons, who together owned two houses that otherwise qualified for this deduction, each claimed the maximum amount of the deduction for the mortgages they had jointly taken out on those homes. The U.S. Tax Court rejected … [Read more...] about IRS backs down over home mortgage interest deduction limits
mortgages
Foreclosing lenders once again fall victim to California’s “one action” rule
The one form of action rule At some point in their careers, California real estate lawyers must inevitably face one of the more arcane and unusual, yet important, provisions of California law: the “one form of action” rule. In the wake of the Great Depression and its catastrophic impact on land values, the California legislature enacted a host of measures designed to … [Read more...] about Foreclosing lenders once again fall victim to California’s “one action” rule