The New District of Columbia TOPA Law

The District’s 30-year-old Tenant Opportunity to Purchase Act, or TOPA, is designed to prevent tenants from being kicked out by landlords planning to sell their properties. It gives renters an opportunity to buy the properties, at least the right of first refusal. In July, the D.C. Council revised the law – exempting most single-family homes,…

Community Living Rules Enforcement

Question. We live in a nice community, but every so often someone breaks one of our rules. Sometimes the infraction is minor — such as washing their car on the public street. Other times, the violation is more serious, such as yelling, arguing and even threatening people. The violators may be unit owners or tenants.…

There Are Tax Benefits With Home Ownership

Homeownership has always been the “great American dream”. And Congress — with one exception — did not take it away when it passed the tax reform bill last December. To foster and encourage this dream, Congress has consistently enacted — or preserved — tax legislation which favors homeowners. Indeed, much has been written that our…

Understanding the “Tax Free” Exchange

Residential homeowners have a number of tax benefits, the most important of which is the exclusion of up to $500,000 profit made on the sale of the principal residence. Fortunately, that was not impacted when Congress enacted the latest tax reform bill. But real estate investors — large and small — still have to pay…

What Kinds Of Mortgages Are Available?

Once you have signed a contract for the purchase of your new home (or condominium or cooperative apartment), and assuming you do not have all of the cash in your bank account, you will need to obtain a mortgage loan. There are many different loans on the market – and many different loan programs from…

There are Different Kinds of Community Associations

A large number of American homeowners now live in a community association. But do you know that there are several different kinds of community organizations, and each has a different set of laws, and different legal structures. Oversimplified, the three main types of community associations are condominiums, cooperatives and homeowner associations. Although all three types…