joanmcq Posted March 20, 2019 Report Share Posted March 20, 2019 Client got involved in an REIT but the builder walked away from the project and the REIT 'dumped' the property on the client without a foreclosure. They have the deed of trust, but the property is still in the name of the REIT until they do a judicial foreclosure. My thought is that they can deduct the RE taxes paid under constructive ownership (I'm not sure that is the exact term, but my brain is spacing right now). Any thoughts? Also, if anyone knows the actual term, I'd really like to know if because my brain fart is stuck on 'constructive' ownership. Quote Link to comment Share on other sites More sharing options...
Lion EA Posted March 20, 2019 Report Share Posted March 20, 2019 Equitable ownership. Don't know if that works for your situation, but search on that. 2 Quote Link to comment Share on other sites More sharing options...
joanmcq Posted March 20, 2019 Author Report Share Posted March 20, 2019 THAT'S IT!!!! damn, it was driving me up the wall, not to mention hindering research. 2 Quote Link to comment Share on other sites More sharing options...
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