A taxpayer could claim a first-time homebuyer tax credit on his federal income tax return - even though he acquired his property under a land sale contract, the U.S. Tax Court has ruled in vacating a $7,500 deficiency assessment. Section 36(a) of the Internal Revenue Code provides a refundable tax credit to a first-time homebuyer of a "principal residence." In 2008, the amount of the credit was 10 percent of the purchase price of the residence, up to $7,500.
... acquired the property under a contract for deed (a form of land sale contract). According to the I...
In execution of a certain deed of trust dated January 27, 2005, in the original principal amount of $88,755.55 recorded in the Clerk's Office, Circuit Court for Montgomery County, Virginia, in Instrument No. 2005001126, default having occurred in the payment of the Note thereby secured and at the request of the holder, the undersigned Substitute Trustee will offer for sale at public auction at the front steps of the Circuit Court for Montgomery County, 1 East Main Street, Christiansburg, Virginia, on November 15, 2010, at 12:31 PM, the property described in said deed of trust, located at the above address, and more particularly described as follows: ALL THAT CERTAIN LOT OR PARCEL OF LAND, WITH ALL THE IMPROVEMENTS THEREON AND APPURTENANCES THEREUNTO BELONGING, SITUATE, LYING AND BEING I...
In execution of a certain deed of trust dated August 21, 2008, in the original principal amount of $146,829.00 recorded in the Clerk's Office, Circuit Court for Roanoke County, Virginia, in Instrument No. 200811763, default having occurred in the payment of the Note thereby secured and at the request of the holder, the undersigned Substitute Trustee will offer for sale at public auction on the front steps of the Circuit Court for Roanoke County, 305 E. Main Street, Salem, Virginia, on October 04, 2010, at 12:00 PM, the property described in said deed of trust, located at the above address, and more particularly described as follows: LOT 4, BLOCK 4, SECTION 2, AS SHOWN ON MAP OF BROOKSIDE, WHICH SAID MAP WAS MADE BY RAYMOND D. WEEKS, S.C.L.S., DATED FEBRUARY 1, 1969 OF RECORD IN THE CLER...
A conveyance of real estate is a transfer of real estate from one person to another. A deed is one form of conveyance, transferring a title to real estate from one person to another. Title means ownership of real estate. The person transferring title is known as the "grantor" and the person receiving the title is known as the "grantee." There are several types of deeds. One form of deed is a . A is a deed which warrants good and clear title to the real estate transferred. In many states, it often includes some or all of the following covenants: seisin, quiet enjoyment, right to convey, freedom from encumbrances and defense of title against all claims. Covenant of seisin is an agreement, contract, or promise that the grantor possesses a quantity and qu...
In execution of a certain deed of trust dated September 26, 2003, in the original principal amount of $159,200.00 recorded in the Clerk's Office, Circuit Court for Roanoke County, Virginia, in Instrument No. 200324836, default having occurred in the payment of the Note thereby secured and at the request of the holder, the undersigned Substitute Trustee will offer for sale at public auction on the front steps of the Circuit Court for Roanoke County, 305 E. Main Street, Salem, Virginia, on January 03, 2011, at 12:30 PM, the property described in said deed of trust, located at the above address, and more particularly described as follows: LOT 22, BLOCK 3, SECTION 2, EDGEMONT OF VINTON, AS SHOWN ON PLAT DATED FEBRUARY 24, 1995, REVISED MAY 20, 1996, BY LUMSDEN ASSOCIATES, P.C., RECORDED IN ...
...Subpart B: Contract Rights and Obligations. : Rights and Duties of Mor..., exercise the power of sale under a deed of trust. (3) Acquisition of title and possession.... mortgagee shall notify the Commissioner on a form prescribed by him of the filing of such conveyance...
In execution of a certain deed of trust dated January 26, 2007, in the original principal amount of $116,000.00 recorded in the Clerk's Office, Circuit Court for Salem City, Virginia, in Instrument No. 070000328, default having occurred in the payment of the Note thereby secured and at the request of the holder, the undersigned Substitute Trustee will offer for sale at public auction at the front steps of the Circuit Court for the City of Salem, Virginia, 2 East Calhoun Street, Salem, VA, on December 20, 2010, at 1:00 PM, the property described in said deed of trust, located at the above address, and more particularly described as follows: BEING ALL OF LOTS 27 AND 28, SECTION 36, AS SHOWN ON THE MAP OF SALEM IMPROVEMENT COMPANY OF RECORD IN PLAT BOOK 1, PAGE 22 1/2 OF THE RECORDED OF TH...
..., the plaintiff in error, entered into a contract with Van Buren Clark, the defendant in error, by w... of the wheat to Ankeny, Clark demanded a deed for the land. This Ankeny neglected to give, putti... with him, went to Ankeny's bank, and formally surrendered possession of the land to Ankeny. Clar...
In execution of a certain deed of trust dated September 26, 2003, in the original principal amount of $159,200.00 recorded in the Clerk's Office, Circuit Court for Roanoke County, Virginia, in Instrument No. 200324836, default having occurred in the payment of the Note thereby secured and at the request of the holder, the undersigned Substitute Trustee will offer for sale at public auction on the front steps of the Circuit Court for Roanoke County, 305 E. Main Street, Salem, Virginia, on January 03, 2011, at 12:30 PM, the property described in said deed of trust, located at the above address, and more particularly described as follows: LOT 22, BLOCK 3, SECTION 2, EDGEMONT OF VINTON, AS SHOWN ON PLAT DATED FEBRUARY 24, 1995, REVISED MAY 20, 1996, BY LUMSDEN ASSOCIATES, P.C., RECORDED IN ...
... agreements naming MERS as a mortgagee or deed of trust beneficiary actually succeed in conveying... only mortgage finance, but virtually all forms of commerce. (11) County real property records are...[T]here [must] be persons able to contract and be contracted with for the purposes intended b...
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