Chicago Loan Co writes nonrecourse
loans from its secure upper story office in downtown's Jewelers Row.
The notes did not contain express language stating whether they were recourse or nonrecourse
to the taxpayer.
The joint venture is to concentrate on facilitating and structuring nonrecourse
financing for solar PV plants in the country.
Under permanent law, nonrecourse
loan rates for wheat, corn and other feed grains, and cotton function as farm price supports.
Income Tax Consequences of the Nonrecourse
In addition, nonrecourse
financing for a Best Buy in Metairie, Louisiana, has been arranged for $9,600,000 on a fixed-rate basis for a term of 10 years based on a 30-year amortization schedule.
vs Commissioner was one of the first cases to rule on the effect that discharging nonrecourse
debt has on cancellation of indebtedness income.
The Senate version of the IRS Restructuring and Reform Act of 1998 included proposed new section 357(c)(4), which would provide that in the case of the transfer of property subject to a nonrecourse
liability, the transferee is treated as assuming with respect to each property only a "ratable portion" of the liability.
The underlying collateral consists of one- to four-family, first lien nonrecourse
reverse mortgage loans.
465 of a member's guaranteeing the debt of an LLC classified as a partnership (or a disregarded entity), the consequences when the debt of the LLC is classified as "qualified nonrecourse
financing" under Sec.
Marcus & Millichap Capital Corporation (MMCC) has arranged a $5 million fixed-rate, nonrecourse
loan to refinance a 44-unit apartment building with four retail spaces in Union Square, Manhattan.
The 10-year, nonrecourse
loan provided for roughly 100 percent loan-to-value (LTV) with a fixed 4.