The court therefore ruled that the judgment of foreclosure should include a provision that the condominium's lien for unpaid common charges on the unit shall be paid either out of surplus proceeds
on the foreclosure sale, or if those proceeds
are insufficient, then by the purchaser of the unit even if the purchaser is the Prudential Insurance Company itself.
if stockholder A in a three-stockholder corporation were to die, for example, the partnership would collect the life insurance proceeds
on A and credit them to the capital accounts of stockholders B and C.
In the following situations, the proceeds
will be exempt from income tax despite a transfer for value.
Kroy contended that a long line of cases showed that a court can never look at the taxpayer's use of loan proceeds
to determine whether loan fees and expenses are deductible.
Gold Hawk has agreed, conditional upon the occurrence of the Release Time, to pay the Agent a cash fee equal to 8% of the gross proceeds
raised in the Private Placement and issue to the Agent broker warrants ("Broker Warrants") to acquire that number of common shares of Gold Hawk as is equal to 8% of the number of Subscription Receipts sold under the Private Placement.
if the loan proceeds
are used to buy the machinery, Janis's adjusted gross income of $90,000 ($75,000 salary and $15,000 interest) would be reduced only by her $13,000 itemized deductions; the $22,000 passthrough from Frames ($10,000 business loss and $12,000 of business interest) would be totally disallowed.
If the auction does not occur, all remaining excess proceeds
will be used to pay down the drawn super senior swap amount and the principal of the funded notes in reverse sequential order, beginning with the class B notes, until redeemed.
If the surviving spouse has a "qualifying income interest for life" in the proceeds
, the proceeds
will be includable in her estate if the marital deduction election was made whether or not she has any power to appoint the proceeds
and the related legal fees generally fall into four categories:
Bassuk, "Wachovia and Fannie Mae were extremely responsive and provided the proceeds
requested by the Borrower on highly advantageous terms.
It was a breach of fiduciary duty, conflict of interest, unsafe and unsound practice, and violation of law, for Respondent to divert portions of customer loan proceeds
on 13 home equity loans without the customers' knowledge, consent, or approval; falsify internal loan documents in order to hide from the Bank the fact that he was charging customers broker fees that exceeded the Bank's broker fee cap; and give customers misleading HUD-1 Settlement Statements that masked the broker fees charged.
After the Small Business Job Protection Act of 1996 (SBJPA) significantly changed the taxability of settlement proceeds
in personal injury cases, many practitioners thought that the opportunities to reduce the tax burden on settlement proceeds
had been eliminated.