Home

Mother-and-son joint ownership hits real-estate snag

By Robert Bruss, Tuesday, May 4, 2004.

In 1996, Linda and her son took title to a rental condominium in their names as "joint tenants with right of survivorship." The Internal Revenue Service had recorded tax liens against the son for 1993, 1994, 1995, 1996 and 1997.

In 2000, the condominium was sold, but the IRS attached one half of the sales proceeds to partially pay the son's income taxes.

Purchase Bob Bruss reports online.

Linda sued for a refund, arguing she put her son on the title only for estate planning purposes.  more...

Elderly homeowners lose out on vacation-home tax break

By Robert Bruss, Tuesday, May 4, 2004.

DEAR BOB: Please help us. We are in declining health and are no longer able to use our vacation home, which we have enjoyed for more than 20 years. But upon consulting our tax adviser, she says we will owe capital gain tax on the approximate $200,000 profit if we sell it. How can we avoid tax? Until the last two or three years, we spent four or five months each year living in our vacation home – Burton S.

DEAR BURTON: Sorry. Your tax adviser is correct.  more...

Bathtub refinishers chip away at yesteryear elegance

By Bill and Kevin Burnett, Tuesday, May 4, 2004.

Q: Can you tell me how I can find a good bathtub refinisher who works in San Francisco? I am looking for a refinisher who will provide references from satisfied customers.

A: It's time to hit the Yellow Pages or the Web. Look under "Bathtubs and Sinks – Repairing and Refinishing." Or go to www.google.com and do a search on the words "bathtub refinishing."

Also try calling a salvage yard or two that specialize in restoration and ask for a recommendation.  more...

Americans face uphill battle for Mexican real estate

By Tom Kelly, Tuesday, May 4, 2004.

It was fishing that led me to real estate – and I don't mean dangling a bottom-feeder offer in front of a desperate seller's nose.

My genuine interest in property came from the constant wondering of "who is the lucky person to own that place," while bobbing in a boat on a wondrous mountain lake or sparkling section of ocean.

Many years ago, while searching for yellowtail tuna with a group of older fishermen off the warm waters of Ensenada, Mexico, I was drawn to the tiny cottages that dotted the dry hills above the sea. What a place, I thought then.  more...