Common interest in parcel of real property

Assignment Help Business Management

Reference no: EM133615779

Question

In January 2019, Sally executed and delivered a grant deed to 50% tenancy in common interest in a parcel of real property she owned in San Diego to her friend Sam Schmoozer. At the time of the tranfer, the value of the 50% tenancy in common interest transferred to Sam was worth $300,000. The purpose of the transfer was to pay off a loan Sam had made to Sally in 2000 that had a balance due of $150,000 on the date of the delivery of the grant deed, as well as to give Sam something for being such a good friend. Sally tells you that the deed was never recorded because Sam has some gambling debts to Caesar's Palace Las Vegas and does not want anyone to know about his owning an interest in the property. (Interest on the note is not an issue here.).

Reference no: EM133615779

Questions Cloud

Integrated marketing communication : An integrated marketing communication approach provides various modes of communicating messages to the customer.

Identify peer-reviewed publications that promote the use : Identify peer-reviewed publications that promote the use of one of the technologies presented below that enhance quality and safety standards in nursing.

Complement her existing value chain : Dana wishes to strengthen her firm's marketing department by partnering with a large marketing firm that can complement her existing value chain.

Describe the components of the nursing theory : Describe the components of the nursing theory. Explain how you will incorporate this nursing theory into your nursing practice. Include rationales and examples.

Common interest in parcel of real property : Sally executed and delivered a grant deed to 50% tenancy in common interest in a parcel of real property she owned in San Diego to her friend Sam Schmoozer.

Calculate insurance premiums establish economic value : Calculate insurance premiums Establish economic value of property Limit coverage to the stated amount Suspend coinsurance.

List a differential diagnosis for the patient : List a differential diagnosis for the patient. Identify the one that you think is most likely and explain why.

What value does the corporation add to these businesses : What value does the corporation add to these businesses? How would you describe this corporation in terms of industry integration?

What is the material he can use to benefit himself : He is interested in claiming Section 45L of New Energy-Efficient Home Credit. What is the material he can use to benefit himself to participate in this program?

User Account

All Pages