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Decoding MERS: What It Potentially Means for Residential Real Property By Saalfeld Griggs PC WHAT IS MERS? There are many problems created by the current financial crisis, ranging from increasing foreclosure rates to chronic unemployment. A problem that has, so far, avoided significant attention concerns a growing majority of court opinions challenging title to real …
Creditor Lessons from the Homebuilding Downturn By Erich M. Paetsch SAALFELD GRIGGS PC Recent economic headlines resemble the most thrilling roller coaster ride. One week the outlook is dire; the next, things are on the upswing. What is certain is that employment rates are slowing, fuel and resource costs are increasing, and economists are debating …
Beware of the Disappearing Agricultural Lien By Shannon Raye Martinez SAALFELD GRIGGS PC If you provide services or products in the agricultural industry and have not received payment from your customers, you may be able to obtain a lien on either the crops themselves (and proceeds thereof) or the land on which the crops are …
Bankruptcy Law and Preferential Transfers: A Hidden Liability By Erich M. Paetsch SAALFELD GRIGGS PC The economic downturn and corporate scandals are important aspects of the current business climate. Emerging from this turmoil is an increasing use of the federal bankruptcy court to obtain creditor relief. The Bankruptcy Code provides protection for a troubled business …
A Half-Baked Tort: Deepening Insolvency By Erich M. Paetsch SAALFELD GRIGGS PC Unfortunately, businesses fail despite the hard work and effort of everyone involved. A business failure can have lasting impacts upon the creditors of the business in addition to the owners. Some creditors of a failed business may experience significant losses. Other creditors, such …
What is that Ticking? Prompt Payment and Private Construction Contracts By Erich M. Paetsch SAALFELD GRIGGS PC On January 1, 2004, the Oregon Legislature changed the relationship among owners, contractors, subcontractors, and material suppliers involved in private construction projects. On that date, a new “prompt payment” law took effect. The law establishes rigorous requirements for …
Contractor Cannot Rely on Related Company’s Construction License By Shannon Raye Martinez SAALFELD GRIGGS PC In a ruling that will have effects far beyond construction liens, a June 2011 Federal District Court case in Oregon invalidated a nearly $5,000,000 construction lien because the general contractor did not have its own CCB license. In Oregon, if …
New Safe Harbor for Reverse Exchanges By SG Business & Taxation Practice Group SAALFELD GRIGGS PC On September 15, 2000, the Internal Revenue Service finally issued some specific guidance for the completion of reverse, deferred like-kind exchanges. In Revenue Procedure 2000-37, the IRS provided a new safe harbor that allows taxpayers a workable, but short …
‘Dividend’ – No Longer a Dirty Word By SG Business & Taxation Practice Group SAALFELD GRIGGS PC Previously, much of the tax planning for closely-held corporations involved efforts to avoid dividend tax treatment on amounts distributed by the corporation to its shareholders. Prior to recent legislation, individuals were taxed on ordinary income, including dividend income, …
Corporate Loans to Shareholders Taxed as Dividends This article discusses a recent Fifth Circuit decision that reclassifies a “loan” to the sole shareholder of a corporation as taxable income to the shareholder in the form of a distribution. The case highlights the need to stay current on the factors used by courts in determining whether …