As a real estate and corporate attorney, I often work with clients who own investment or rental property. A common question often arises: Should a client hold title to real estate in the client’s individual name, or would the client be better served by holding the property in a limited liability company (i.e., an LLC) or a corporation. Of course, the answer depends on the specific circumstances of the client’s situation, but there are often advantages to holding property in an entity owned by the client. The primary advantage of holding property in an LLC or corporation is limitation of …
Facing an Excessive Property Valuation as Tax Season Approaches? Fear Not! A Tax Appeal May Lessen Your Tax Burden
As the deadline to pay real estate taxes for the first half of 2013 rapidly approaches, property owners may suddenly question the County’s valuation of their property. Why is valuation important? Because a property’s valuation is a significant factor relative to determining the real estate taxes associated with that property. Disagree with the County’s valuation? You may wish to consider whether filing a Complaint Against the Valuation of Property (also known as a real estate tax appeal or real estate tax complaint) makes sense for you and your property. There are several critical points to consider before filing a tax …
Ohio’s Most Litigated Private Pool?
An Ohio family in Mahoning County has demonstrated their commitment to property rights, swimming, or both. In 1949, Ohio Edison obtained an easement for building and maintaining an electric transmission line, and currently maintains a 69,000 high voltage line within the easement area. More than 25 years later, in 1977, the Wilkes family purchased a home on a lot partially covered by Ohio Edison’s easement. In 1993, they installed an above-ground swimming pool and storage shed within the minimum safe distances from the transmission lines pursuant to the National Electrical Safety Code. In November of 2008, Ohio Edison notified them …
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