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Jarrett Nila Buchanan
Buchanan Group - Attorneys and Realtors
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Practice Areas
- Real Estate Law
- Commercial Real Estate, Condominiums, Easements, Eminent Domain, Homeowners Association, Land Use & Zoning, Mortgages, Neighbor Disputes, Residential Real Estate
- Probate
- Probate Administration
- Divorce
- Property Division
- Landlord Tenant
- Evictions, Housing Discrimination, Landlord Rights, Rent Control, Tenants' Rights
- Estate Planning
- Guardianship & Conservatorship Estate Administration, Trusts
- Foreclosure Defense
Video Conferencing
- FaceTime
- Google Meet
- Skype
- Zoom
- FreeConferenceCall
- GoToMeeting
- Microsoft Teams
Jurisdictions Admitted to Practice
- California
- State Bar of California
- ID Number: 247095
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- Federal Circuit
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Professional Associations
- Psi Chi International Honor Society in Psychology
- Current
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- American Bar Association
- Current
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- Pacific West Board of Realtors
- Current
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- California Association of Realtors
- Current
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- National Association of Realtors
- Current
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- California State Bar # 247095
- Member
- - Current
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Legal Answers
11 Questions Answered
- Q. 1031 exchange question
- A: You don't need to file the lease agreement. As long as your taxes reflect at least a tax year's worth of income from the property, you should qualify. Consult with a tax professional for confirmation. I would also recommend hiring a Realtor that is also an attorney to handle the 1031 exchange. A Realtor alone will not be able to help with legal issues.
- Q. Can 76 yr-old give a 60-day notice to terminate residence with two 12-month + tenants? Going to assisted living.
- A: The answer depends on a number of factors including how title is held and whether appropriate notices have been given. I would definitely recommend consulting with a real estate attorney before giving notice or trying to sell. Even better, hire realtors that are also attorneys to help you with the entire process.
- Q. We plan to sell our house in 2023, w/a capital tax gain of $1MM. Should I NOT work in 2022 to fall in the 0% tax rate?
- A: If this home qualifies as your primary residence, you will qualify for a capital gain exclusion of $250k, if single, or $500k, if married. If this is an investment property, you may defer taxable gain by doing a 1031 exchange. There are also ways to change the characteristics of properties in order to qualify for both exclusions. A savvy Realtor should be able to help you but you should also consult with a tax expert.
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