Law Commons^™

A Complete Property Right Amendment, John H. Ryskamp

ExpressO

The trend of the eminent domain reform and "Kelo plus" initiatives is toward a comprehensive Constitutional property right incorporating the elements of level of review, nature of government action, and extent of compensation. This article contains a draft amendment which reflects these concerns.

The Partnership: Preserving Capital Gains On Real Estate Investments, Charles E. Mcwilliams

ExpressO

This paper considers the use of partnerships as an effective tool for preserving capital gains on real estate investments. For tax purposes, the Internal Revenue Service generally treats a limited liability company as a partnership. This form of organization is widely used for real estate investments, and by taking a few simple precautions an LLC may ensure that any gain on its investments in undeveloped real property will be treated as capital gains. Such treatment may reduce the LLC’s tax costs substantially.

The Fifth Circuit developed a framework that has proven invaluable for analyzing the activity of the LLC to …

Respect For Statutory Text Versus ‘Blithe Unconcern’: A Reply To Professor Coverdale, Erik M. Jensen

Faculty Publications

In Tufts v. Commissioner, the Supreme Court in 1983 had concluded that relief from a nonrecourse liability on disposition of property should be reflected in the seller's amount realized, even if the value of the property had dropped below the principal amount of the obligation. Professor Coverdale quite reasonably complained that the statutory definition of amount realized makes no mention of liabilities and that, not quite so reasonably, commentators had shown blithe unconcern about statutory language. A great fan of adhering to statutory language, the author nevertheless argues that interpreters must take into account judicial developments, in this case beginning …