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Semmelman & Semmelman, Ltd.

900 North Shore Drive, Ste. 250

Lake Bluff, IL 60044

Phone: 847-234-4438     Fax: -847-234-4674

Semmelman Law Blog

Latest news about Estate Planning, Administration, Wills & Trusts, Business Law, and Real Estate

 


Cash is King

Kimberly Wisneski - Monday, June 15, 2015


New Rules Affecting Buyers and Sellers of Real Estate

Are you currently selling your home or shopping for a new one? If so, you should be aware that the CFPB (Consumer Fraud Protection Bureau) has new rules that go into effect on August 1, 2015! These rules apply to all “closed- end consumer credit transactions secured by real property”, meaning purchase money mortgages, refinances, timeshares, construction only loans and parcels 25 acres or less. The sale and purchase of vacant land, which was previously considered a commercial transaction, is also subject to the new rules. Home Equity Lines of Credit, reverse mortgages, mobile home loans, commercial transactions and private lenders originating less than 5 loans per year (e.g., Articles of Agreement) are exempt from the new rules and forms.  Read More >









Use of a Charitable Remainder Trust to Minimize the Tax Impact of Inversion

David Semmelman - Wednesday, September 24, 2014


An inversion occurs when there is a merger between a U. S. domestic corporation and a foreign corporation and the resulting corporation is a foreign corporation. One motivation for an inversion is the opportunity for the former U. S. corporation to avoid being taxed in the United States on income that was derived from sales outside of the United States. Read More >








Business Law Update

Kimberly Wisneski - Thursday, July 31, 2014


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