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The “gain,” the income in these situations, comes from the forgiveness of the balance of the debt after the sale. Bankruptcy “discharges” the debt, and hence does not leave it to be “forgiven.”

In most cases, when a debtor files for bankruptcy, creditors stop all contact with the debtor immediately. Most creditors know that if they attempt to collect against a debtor after the bankruptcy is filed

In Part III of this three part series, one of the more common forms of ownership will be examined, the Tenancy in Common.

How should a husband and wife own property? In Part II of this three part series, we will examine the pros and cons of owning property by a Tenancy by the Entirety.

People rarely consider how they should take title to property. When a couple contemplates the purchase of property they normally think about the renovations they want to make or the furniture they want to buy.

Wow… now that’s a mouth full. A little while back I posted about a Holographic Will–which is a handwritten Will. Too often, I see clients who wish to revise their Wills, either through amendment (a codicil) or a new Will.

It should be pretty obvious if your financial health is sick enough to warrant filing bankruptcy, but sometimes a multitude of factors just end up occurring at the same time which can easily cloud what should be a clear situation.

If you’re in the United States illegally, as a general rule you are immediately deportable. That’s common knowledge. But did you know that even if you have “lawful permanent resident” status (you have a green card)

Accuracy of the information on the listing agreement and the seller disclosure form is important. Inaccurate information on the seller disclosure is a common source of misrepresentation lawsuits filed against sellers.

An Attorney must conduct your closing. A person who is not licensed to practice law in North Carolina and is not working under the direct supervision of an active member of the State Bar may not perform functions or services that constitute the practice of law.