Posted by Frank 41 on March 20, 2013 at 19:08:04 from (192.183.73.16):
In Reply to: Real Estate taxes posted by Fritz Maurer on March 20, 2013 at 18:28:15:
Your gain will be difference of what the ground was appraised at the time of the trust being set up and what the price is when sold. Here in central IL in the last 10 years, ground has appreciated $10k. So if this trust was set up here in 03 and sold now, you have a $10k gain. I would suggest to take the money and pay the taxes yourself. If the buyer did not pay the taxes you would be SOL big time! Best to check with an accountant or tax lawyer as the laws are always changing. Also the buyer of the taxes will have to be paid. I have seen that interest from 0 to 18%. Good luck, I am sure someone will try to pick the bones.
We sell tractor parts! We have the parts you need to repair your tractor - the right parts. Our low prices and years of research make us your best choice when you need parts. Shop Online Today. [ About Us ]
Today's Featured Article - The Ferguson System Principal An implement cutting through the soil at a certain depth say eight inches requires a certain force or draft to pull it. Obviously that draft will increase if the implement runs deeper than eight inches, and decrease if it runs shallower. Why not use that draft fact to control the depth of work automatically? The draft forces are
... [Read Article]
Latest Ad:
1964 I-H 140 tractor with cultivators and sidedresser. Starts and runs good. Asking 2650. CALL RON AT 502-319-1952
[More Ads]
All Rights Reserved. Reproduction of any part of this website, including design and content, without written permission is strictly prohibited. Trade Marks and Trade Names contained and used in this Website are those of others, and are used in this Website in a descriptive sense to refer to the products of others. Use of this Web site constitutes acceptance of our User Agreement and Privacy Policy
TRADEMARK DISCLAIMER: Tradenames and Trademarks referred to within Yesterday's Tractor Co. products and within the Yesterday's Tractor Co. websites are the property of their respective trademark holders. None of these trademark holders are affiliated with Yesterday's Tractor Co., our products, or our website nor are we sponsored by them. John Deere and its logos are the registered trademarks of the John Deere Corporation. Agco, Agco Allis, White, Massey Ferguson and their logos are the registered trademarks of AGCO Corporation. Case, Case-IH, Farmall, International Harvester, New Holland and their logos are registered trademarks of CNH Global N.V.
