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Sun Blog: Real Estate Rules & Regulations

FIRPTA Foreign Investment in Real Property Tax Act

FIRPTA Foreign Investment in Real Property Tax Act The United States Federal Tax Law requires that a foreign citizen who sells real estate owned in this country pay taxes on the profit of such sale. To insure that the tax is paid, 15% of the proceeds at closing are withheld and transferred to the United […]

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Adverse Possession

A mortgage broker in Ft. Lauderdale is using an old Florida stature from 1869 to save abandoned homes and may face consequences. Using the a statute called adverse possession, common in all 50 states, the broker is finding homes that have been designated by the county as a “public nuisance”. He then cleans up the […]

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Foreclosures in Port Charlotte, Punta Gorda, North Port, Englewood, Rotonda FL

The newspapers are still filled with articles and editorials about the so called mortgage mess. The federal reserve is looking into banking practices and there is certainly a need for legislation that encourages lenders to modify loans. Many owners would benefit from a simple adjustment in the interest rate the banks charge. With rates at […]

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Obama signs Homebuyer tax credit bill extension

President Obama signed an extension of the $8,000 tax credit for first-time buyers. The extension adds money for some move-up buyers. The maximum tax credit remains $8,000. Anyone who has not owned a home within three years is considered a first-time buyer. Your purchase must be under contract by April 30, 2010. Your purchase must […]

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Primer on residential wastewater treatment systems

By Bruce Loucks, Charlotte County administrator, Charlotte Sun-Herald Newspaper. Reprinted with permission. Questions frequently arise regarding residential sewer systems. In Charlotte County, there are several different companies which provide for central sewer treatment. Charlotte County government is one of the larger systems in the area, as are the City of Punta Gorda and the Englewood […]

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Scrub jay habitat not easy to find

OUR POSITION: We believe there is some merit to Charlotte County Commissioner Tricia Duffy’s idea to couple the acquisition of environmentally sensitive land with mitigation of habitat for scrub jays, gopher tortoises and indigo snakes. Just the mention of scrub jays elicits a sinking feeling for hundreds of land owners in Charlotte County. About 10,000 […]

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