Solutions for Real Estate Law, 12th Edition by Jennings (All Chapters included)
Course
Real Estate Law 12e Jennings
Institution
Real Estate Law 12e Jennings
Complete Solutions Manual for Real Estate Law, 12th Edition by Marianne M. Jennings ; ISBN13: 9780357518670.....(Full Chapters are included and organized in reverse order from Chapter 22 to 1)...Chapter 1. Introduction and Sources of Real Estate Law
Chapter 2. Land Interests: Present and Future
C...
Real Estate Law, 12th Edition by
Marianne M. Jennings
Complete Chapter Solutions Manual
are included (Ch 1 to 22)
** Immediate Download
** Swift Response
** All Chapters included
,Table of Contents are given below
Chapter 1. Introduction and Sources of Real Estate Law
Chapter 2. Land Interests: Present and Future
Chapter 3. Extent of Real Estate Interests
Chapter 4. Nonpossessory Interests in Real Estate
Chapter 5. Fixtures
Chapter 6. Liens
Chapter 7. Describing Land Interests
Chapter 8. Co-Ownership of Real Estate
Chapter 9. The Landlord–Tenant Relationship
Chapter 10. Commercial Leases
Chapter 11. Real Estate Communities: Multiunit Interests and
Owners’ Associations
Chapter 12. The Broker’s Role in the Transfer of Real Estate
Chapter 13. The Purchase Contract
Chapter 14. Methods of Transfer and Conveyance in Real Estate
Chapter 15. Financing in the Transfer of Real Estate
Chapter 16. Closing the Deal
Chapter 17. Transferring Real Estate after Death: Wills, Estates, and
Probate
Chapter 18. Zoning
Chapter 19. Constitutional Issues in Real Estate
Chapter 20. Environmental Regulation and Sustainability
Chapter 21. Legal Issues in Land and Economic Development
Chapter 22. Tax Aspects of Real Estate Ownership and Transfer
,Solutions Manual organized in reverse order, with the last chapter displayed first, to ensure that all
chapters are included in this document. (Complete Chapters included Ch22-1)
Instructor Manual
Marianne M. Jennings, Real Estate Law, 2022, 9780357518649;
Chapter 22: Tax Aspects of Real Estate Ownership and Transfer
Table of Contents
Chapter Objectives ......................................................................................................................................................... 2
Key Terms ........................................................................................................................................................................... 2
What's New in This Chapter ........................................................................................................................................ 3
Chapter Outline ............................................................................................................................................................... 4
Answers to Case Questions ....................................................................................................................... 4
Answer to Ethical Issue (22.1) ................................................................................................................... 5
Answer to Consider (22.1) ......................................................................................................................... 6
Answers to Case Questions ....................................................................................................................... 7
Answer to Consider (22.2) ......................................................................................................................... 8
Answers to Case Questions ....................................................................................................................... 9
Answer to Consider (22.3) ......................................................................................................................... 9
Answer to Ethical Issue (22.2) ................................................................................................................. 10
Answers to Case Questions ..................................................................................................................... 12
Answer to Consider (22.4) ....................................................................................................................... 12
Answers to Case Questions ..................................................................................................................... 15
Cautions and Conclusions........................................................................................................................ 18
Additional Activities and Assignments................................................................................................................. 18
Answers to Chapter Problems ................................................................................................................. 18
In-Class Exercise ...................................................................................................................................... 20
Resources ................................................................................................................................................ 20
Cases ....................................................................................................................................................... 22
1
, Chapter Objectives
The following learning outcomes are addressed in this chapter (see PowerPoint Slide 22-1):
22.01 Discuss the purpose of real property taxes, the methods of assessment and collection.
22.02 Describe the income tax effects of real property ownership and transfer.
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Key Terms
1031 exchange: a process where investment properties can be exchanged; named after the IRC
provision that governs it
acquisition indebtedness: for tax purposes, determination of qualified residential interest; the
amount of debt entered into for purchase of a primary or secondary residence
active income: for income tax purposes, income earned as wages or other forms of
compensation for work/services performed
ad valorem tax: tax based on value that increases as value increases; property taxes are ad
valorem taxes
assessment: process whereby a tax amount is assigned to a parcel of real estate on the basis of
the value of the parcel
assessor: public official responsible for the valuation and assessment of real property and the
subsequent collection of taxes
at-risk rules: under the Internal Revenue Code, a restriction on taking losses that requires those
taking the loss to have funds at risk in the operation of the business
capital gain: the amount of a net gain made on the sale of property; carries a special lower tax
rate
cost approach: tax appraisal method that bases value of the property on its original cost-plus
costs of improvement
depreciation: wear and tear on property; can be deducted each year and used to offset income
earned on income-producing property; greatly limited under Tax Reform Act
home equity indebtedness: consumer debt secured by residence of debtor; includes mortgage,
other loans, and lines of credit
income approach: tax appraisal method that bases value of the property on the income
generated by the property
Internal Revenue Code (IRC): federal law governing income taxation
2
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