Real Estate and Land Use
We represent buyers and sellers of residential, commercial, recreational, and industrial real estate throughout New York and New Jersey. We have vast experience with the New York City co-op and condo process, having been involved in large numbers of such transactions and having served as an officer on a co-op board.
We can assist clients in connection with boundary disputes, title problems, residential and commercial leases, mortgages, Section 1031 tax-deferred exchanges and landlord-tenant disputes.
A 1031 tax-deferred exchange allows you to defer paying tax on proceeds received from the sale of an investment property into the purchase of like-kind investment properties. It cannot be used for the sale of your personal residence. At closing, the proceeds are transferred to a third-party who holds them until they are used to acquire the new property. Capital gains taxes are deferred if all of the exchange funds are used to purchase like-kind investment property. The deferment is like getting an interest-free loan on the tax dollars you would have owned for a taxable sale. You retain more equity, which helps you move into properties of higher value each time you perform a 1031 exchange.
We represent buyers and sellers of residential, commercial, recreational, and industrial real estate throughout New York and New Jersey. We have vast experience with the New York City co-op and condo process, having been involved in large numbers of such transactions and having served as an officer on a co-op board.
We can assist clients in connection with boundary disputes, title problems, residential and commercial leases, mortgages, Section 1031 tax-deferred exchanges and landlord-tenant disputes.
A 1031 tax-deferred exchange allows you to defer paying tax on proceeds received from the sale of an investment property into the purchase of like-kind investment properties. It cannot be used for the sale of your personal residence. At closing, the proceeds are transferred to a third-party who holds them until they are used to acquire the new property. Capital gains taxes are deferred if all of the exchange funds are used to purchase like-kind investment property. The deferment is like getting an interest-free loan on the tax dollars you would have owned for a taxable sale. You retain more equity, which helps you move into properties of higher value each time you perform a 1031 exchange.
Since the 1970's, land use has moved from exploitation to stewardship. Regulatory bodies may review your building plans for zoning and environmental concerns. Bakal Law PLLC can help you with zoning analyses and helping you obtain permits and variances. If litigation appears likely, we can represent you in disputes with adjacent property owners. We understand that you are interested in the highest and best use of your land. Todd's experience as a member of a municipal planning and zoning board can help you achieve that goal.
Contact Bakal Law PLLC today to schedule a consultation to discuss your real estate needs.
Contact Bakal Law PLLC today to schedule a consultation to discuss your real estate needs.