Real Estate Law
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I suppose a little of both, although we know that there will be a tax imposed on the withdrawal, we are more concerned about how it is viewed (income?) as we are getting paid back. In our thinking, it would not be income since it is a repayment, but that is what we really don't know. We would sell him the house, hold the papers (seller financing) and receive only principal, no interest.
Nice! that is what we were hoping for but we just weren
I'm sure there are some forms that we can get to help with this - where would we look to find the deed of trust and promissory notes?
Yeah, we don't want to make a profit on this, just get paid back.
Ok, thank you!
REALLY!!! That is definitely something that we would like to look into!
We definitely will do more research with this new information.
I think so too.
That really sounds like a viable option and one that we had not even knew existed.
Thank you so much!
Thank you -
That's great - thank you for this information - it will get us going with our research and definitely will assist with the deicison.
Will do, we just weren
weren't sure which direction to take at this point. we will definitely find a local resource to assist.
thank you for your time and the information!
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