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Community Property Law |
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| Publisher: |
Bob Miles |
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2007-05-19 |
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368 |
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Community property law is normally applicable only to two people who are legally married, although it is sometimes applied to couples who have lived together for a long time. Some states have not yet enacted community property laws, and the law varies considerably among the states that have enacted them. Nevertheless, the community property laws of various states share certain features in common. Contrary to popular opinion, you can’t marry a millionaire in a Las Vegas Chapel ‘o Love drive-thru window, pull around and get a drive-thru divorce, and pull out of the parking lot a millionaire yourself. Community property applies to all the property gained during the marriage – so the longer the marriage lasts, the better chance the richer spouse has of getting fleeced. For most couples, wages and salaries are the biggest component of community property. Pensions are also included, as are assets (such as houses and cars) bought with these funds. So if one spouse is worth ten million and the other is worth fifty cents before walking into the church for the wedding, their respective wealth is probably going to be about the same when they walk out a few hours later. In addition to “community property”, each spouse will normally have some “separate property”. Separate property includes each spouse’s property obtained before the marriage, along with income derived from this property, even if the income is earned after the marriage (in most cases). Gifts received by one spouse only are also considered separate property. In a few states, though, family residences are considered community property even if it was a gift to one spouse and the title is in that spouse’s name only. In addition, separate property can be converted into community property by having one spouse donate his or her separate property to the couple’s community property.. The foregoing is a very simplified explanation of community property law. Keep in mind that significant differences exist among states, and that there are a lot of rules involved. This article was written to give you a rough idea of what does and does not belong to you. DISCLAIMER: The following in intended for reference only and not as legal advice.
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community property spouse Community Property Law Legal Reference & Education |
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Related Article:Community Property Law |
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Darren Kavinoky |
2006-06-21 |
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Title: Intro to Property Destruction
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Intro
Property damage is punishable under the law by fines, imprisonment, and community service. Property damage means many things, from scrawling graffiti on a park bench, hitting something with your car, to causing a fire which damages property. Property damage can be minor to very great. The level of damage will increase the fines and the amount of imprisonment. Convictions for property damage may be misdemeanors, felonies, or “wobblers.”
A misdemeanor is a crime punishable by imprisonment in the county jail for up to one year. Felonies are crimes punishable by imprisonment in the state prison. Wobblers are those crimes which may be punishable as either a misdemeanor or a felony. It is up to the prosecution to charge it by either classification, and up to the judge to sentence the crime either way as well. A defendant’s criminal history, including similar prior crimes, has an impact in the classification of a wobbler one way or the other.
The following four classifications of crimes are classified as “property destruction” crimes:
Arson: Arson is the crime of causing a fire which damages property not your own. It may be minor damage, or great damage, in which case it is called aggravated arson. When someone is convicted of arson, they must register with the State of California, and notify their local law enforcement agency of their prior conviction.
Recklessly Causing Fire: The crime of recklessly causing a fire which damages the property of another occurs when a person knows that one's actions have an unjustifiable risk of leading to a certain result, but did not care about that risk and acted anyway. This is termed “reckless disregard.”
Vandalism: Vandalism is the crime of defacement, damage, or destruction to another person’s property by way of felt-tip pens, spray cans, paint, caustic substance, etc. Vandalism may also be termed a “hate crime” if the target is a religious group or other group targeted due to race or affiliation.
Hit and Run: Hit and run is the crime of hitting the property of another with a vehicle and not stopping to find the owner or leave contact information.
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Timothy Park |
2008-01-23 |
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Title: Marital Property in Divorces
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o Community Property o Separate Property o Commingled Property o Tracing o Property Acquired Outside of Texas o Marital Property Management o Specific Examples o Marital Debt o Claims of the Federal Government Community Property: ``Community property' is all property, other than separate property, acquired during marriage. Separate Property: ``Separate property' is property owned before marriage, acquired during marriage by gift, devise, descent, or received as recovery for personal injuries sustained during marriage, except for any recovery for loss of earning capacity during marriage. Commingled Property: “Commingled Property” is marital Property that is a mixture of both separate property and community property. Example A. Farmer Husband owns a farm prior to his marriage – separate property. After marriage, he raises crops – community property. He takes the proceeds from the sale of the crops and buys more land. This land is community property. His father dies while he is married, and leaves his farm to his son – separate property. Thus, Farmer’s land is both separate and community property. In this case, the farmland is “commingled” but it is easily identifiable because we have county records, which are easily located and specifically identify the property. Example B. Husband opens a bank account with funds which are clearly separate – inherited monies. He then deposits his paychecks into the account – community monies. The account is commingled. Wife withdraws funds to pay expenses. What money did she withdraw – community or separate? Under the community out first presumption, she has withdrawn community funds. If she withdraws all of the money out of the account, she has withdrawn both community and separate property. The separate property is gone. Example C. Husband takes both separate and community funds to buy Microsoft stock. He then sells Microsoft in order to buy AT&T. He holds AT&T for two years and then decides to invest in local real property. Where is the separate property? If we are unable to trace the separate funds, then no one knows. We know it is there, but we do not know where it is. It may have been hopelessly commingled. Therefore, the community property presumption prevails and husband looses. If husband can “trace” the separate property funds, then husband may be able to recover. Tracing: “Tracing” is about finding the separate property. It is about proof. Property purchased or exchanged for separate property is and remains separate property. Mutations and changes in the form of the property do not affect its character as separate or community. However, the spouse must clearly trace and identify the property. Example: If husband owns separate property land which he then sells in order to buy AT&T stock, then that stock is separate property. The difficulty arises, however, because the burden of proof is placed upon that person claiming the separate property. This person must build a chain by documents and/or other extrinsic evidence establishing the separate property characteristic. He or she must clearly identify the separate property. Otherwise, the community property presumption will prevail. Property Acquired Outside of Texas: Property which is acquired outside of Texas is characterized as either separate or community under the same conditions as if it were in Texas. This property is also known as “Quasi-Community Property.” Property which would be classified as community property if the spouses had resided in Texas at the time of its acquisition is classified as community property. If property acquired while the spouses were domiciled in another state would be classified as separate property if they had resided in Texas then that property is classified as separate property. Marital Property Management: Each spouse has the sole management, control, and disposition of his or her separate property. Each spouse also has the sole management, control, and disposition of the community property he/she would have owned if single. Sole management community property includes personal earnings, revenue from separate property, and the increase, mutation of, and revenues all property subject to his/her sole management, control, and disposition. Property in which both spouses have joint control is called joint management community property. Specific Examples Community/Separate Property Caveat: The following examples are subject to the characterization rules outlined above and the particular facts of your case. Each rule of law is subject to either exception or argument to either maximize or minimize its effect. Real Property: Appreciation in value is separate property. Rents, revenues, and income derived from separate real property is community property. Stocks: Appreciation in the value of stock and/or stock splits is separate property. Dividends are community property. The exception to this rule is when corporation is closely held and corporation is really an alter-ego of the stock holder. In this case, the stock may be impressed with the community characteristic. Partnership Interests: Generally, profits earned by the operation of a business during marriage are community property even if the business is separate property. Even though partnership property is owned by the partnership, and not by the individual partners, each partner’s partnership interest, that is, his/her right to receive a share of the profits and surpluses of the partnership is subject to characterization rules. If the right to partnership profits accrues prior to marriage, the profits are the separate property of the partner. If the right to partnership profits accrues during marriage, but the profits are not distributed until after the marriage, the profits are nevertheless community profits. If profits have been retained in the business to meet the needs of the business, then the profits remain partnership property whether in the form of cash in the bank, increased inventory, or otherwise. Trusts: A beneficiary’s equitable interest in a trust is characterized according to the rules of separate and community property. If the beneficial interest is acquired before marriage or through gift devise or descent, it will be separate property. If the beneficial interest in a trust was funded by the Trustor out of separate property funds then the beneficial interest is separate property. Oil & Gas Mineral Interests: Oil and gas mineral interests are separate property. Think about it, you are removing a piece of the land every time you sell a barrel of oil. Employee Benefits: It is well settled that a spouse has a community property interest to that portion of retirement benefits of the other spouse earned during marriage regardless of when the retirement account was opened. Generally, the community interest may be mathematically ascertained by apportioning the benefit between the months in the plan during the marriage and the total number of months necessary for accrual and maturity. Livestock: The growth of livestock is separate property. Offspring is community property. This rule is derived from a classic case entitled Stringfellow v. Sorrells. Stringfellow was about mules. The mules grew. The mules became more valuable. Creditor tried to execute upon the increase in value. Creditor lost. Stringfellow is one of the foundation cases for the law of separate and community property. Crops: Whether mature or growing, crops are impressed with the community presumption. Does not matter whether the crops are growing on separate property land. For example, the proceeds derived from the sale of timber growing on separate property were community property. It is only in the instance where crops are sold with separate property land without reservation that crops take on the characteristic of the property. Marital Debt The liabilities of different types of marital property are governed by Texas Family Code Section 3.202. Separate Property Liability: A married person’s separate property is not subject to the liabilities of his or her spouse unless both spouses are liable by other rules of law. However, a spouse’s separate property is liable if the spouse incurs a debt for necessaries or if the spouse acts as an agent for the married person. Agency is not created simply because the parties are married. Sole Management Community Property Liability: Each spouse's share of joint management community property is subject to liabilities incurred by him or her before and during marriage. A spouse's separate and sole management community property cannot be reached to satisfy the obligation incurred by the other spouse unless that obligation was incurred for necessaries or by the torturous conduct of the other spouse. Joint Management Community Property: Each spouse’s share of joint management community property is subject to liabilities incurred by him/her before and during the marriage. Character of Contractual Obligation: The character of debt is fixed by the character of the contractual obligation with the creditor. When either spouse incurs an indebtedness during marriage and the person extending credit does not specifically agree to look solely to the separate estate of one of the spouses for satisfaction, the borrowing spouse pledges community credit and whatever is acquired as a result is community property. Claims of the Federal Government Tax Liens: The federal government's claims for taxes is a lien in favor of the United States on all property and rights to property, whether real or personal, belonging to the person who is liable to pay the tax and who neglects or refuses to pay the tax after demand. Taxable Estate: Under federal law, one half of all community income is taxable to each spouse, regardless of which spouse exercises control over the income at issue. Homestead: A homestead right, though securely established and existing, is subject to a lien for federal taxes. When a homestead is subject to a federal tax lien, the federal government must compensate the nondelinquent spouse for his or her homestead interest, regardless of whether the property is community or separate. Sole Management Community Property: The federal government's claim for taxes may subject even a spouse’s sole management community property to the other spouse's premarital income tax liability. Be that as that may, the Internal Revenue Service has ruled that a spouse's community one-half interest in a joint income tax refund may not be used to offset the separate premarital tax liability of the other spouse, unless state law permits that interest to be reached to satisfy premarital debts. Texas law does not permit that interest to be reached to satisfy premarital debts. Under Texas law, each spouse has sole management and control over his or her personal earnings. In addition, unless both spouses are liable by other rules of law, community property subject to a spouse's sole management and control is not subject to premarital liabilities of the other spouse.
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Mckinley Irvin |
2007-06-24 |
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Title: Hire a Bellevue Family Law Lawyer to Help You Determine Community Property
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If you are getting divorced in Washington State, you should know that Washington is a community property state. What this means is that assets acquired during the marriage are community property and shall be divided between the parties after divorce. The criteria for what constitutes community property can be explained better by a Bellevue family law lawyer and each case is different. It takes an experienced legal eye to know how a court might rule in a given case, and a Bellevue family law lawyer would only speculate when she knows the facts. However, a community property standard also means that the court has discretion to divide property. The court does so using a “fair and equitable” standard. Your Bellevue family law lawyer will be the first to describe this standard as confusing. What the law intends is that after a divorce the parties leave one another with a fair chance at developing their new independent life. This does not always mean that property is divided equally. Depending on the circumstances, one party may receive more community property than the other or may receive spousal support from the other. Just what arrangement the court opts for somewhat depends upon how your Bellevue family law lawyer frames your case and which facts are highlighted. At McKinley Irvin, our Bellevue family law lawyers are experienced in cases requiring creative and workable property solutions. Community property law is not simple, and McKinley Irvin Bellevue family law lawyers offer their clients proven strategies and flexible solutions. Not all divorces need be hard battles. At McKinley Irvin, we encourage our clients to seek resolution to their divorce issues by thinking about a new beginning and not merely a bitter end.
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John Everitt |
2007-06-18 |
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Title: Advice on buying Belgium Property
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Location and Climate of Belgian property
Belgium, a member of the European Union is situated at the western edge of Europe, bordered to the north by the Netherlands, to the east by Germany and the Grand Duchy of Luxembourg and to the south and the west by France.
Belgiums' location has made it the economic and urban nerve centre of Europe. The climate is generally mild. Languages in Belgium
Linguistic and culturally, Belgium has three Communities today, based on language: the Flemish Community, the French Community and the German-speaking Community. Belgium has recently increased in popularity for foreign property ownership due to the head quarters of the European Union being based at Brussels. This has resulted in rising Belgium properties values, especially close to Brussels, although less expensive property can be found in the countryside. There are no restrictions on Foreign Ownership of Belgium property. Real Estate Prices in Belgium
Range varies, for example:
From around £170,000 for a villa / house
From around £60,000 for a flat / apartment
From around £130,000 for a Maison de Maitre / Townhouse
Locations for buying real estate in Belgium
Antwerp is the largest Belgium city with a population of 500,000.
Brussels is popular with government workers, to the East, being popular for young commuters and residents. East and West Brussels tend to have larger English speaking areas. Living Costs in Belgium
Freehold property near to Brussels is generally more in demand. Buying real estate in Belgium
A sales agreement is binding from day one - the notary will issue a deed which completes the sale. Put your signature under a sales agreement and you have to come up with the Euros - it is often misunderstood that if you sign a sales agreement with a 10 if you don't go ahead with the deed after all. Make no mistakes - you are owner the moment you sign the sales agreement! If you sent a proposal, the moment it has been counter signed by the seller for the agreed purchase price, you are officially the owner of the property. All particularities, including loan approval, building or renovation permits, etc, have to be mentioned as a suspensive condition in the sales agreement. In such case it is also advisable to hand over the advance payment to the notary, another common practice, who will keep the money until the signature of the deed (which doesn't allow any suspensive conditions). The property transaction should always be officially registered with the governmental authority within four months of conclusion. Solicitor / Lawyer
A Belgian solicitor/lawyer or notary should be used to draw written contracts for submission to the public notary. Fees
Property registration should incur duty of 12.5 on buildings less than two years old with the same rate applicable for the renovation of old buildings.
Notary fees will cost between 0.1-0.5 and municipal and provincial surcharges also apply. Mortgages
Mortgages are available from various banking and mortgage providers. Repayment terms and the rights of the mortgager will be agreed within a written contract before a sale is agreed. Capital Gains tax is chargeable on all income from the sale of Real Estate which includes non-resident companies and is liable at the basic rate, which would be 40%.
Visit Globespan Property portal for more information These guidelines are meant for guidance only and describe a straightforward purchase scenarios. However this information is not meant to replace proper legal advice, which we always insist you take. |
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Susant Sahoo |
2007-05-20 |
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Title: Contact a Bellevue Divorce Attorney for Divorce with Substantial Assets
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Divorce is a major change for both spouses. The property acquired both before and during a marriage will be divided by a court, absent an agreement between the parties. Especially when a couple has substantial assets, consulting with a Bellevue divorce attorney prior to filing your case may be a good idea. Since Washington is a community property state, generally courts will find property acquired during the marriage as community property and divide it fairly and equitably between the parties. Immediately some questions arise. What does “acquired during the marriage” mean, and what does “fair and equitable” mean? In fact, these standards are quite complicated and should be explained by a competent Bellevue Divorce Attorney. Whatever a court construes them to mean in your case, if you have substantial assets, an experienced Bellevue divorce attorney can help you understand the possibilities of your case. Most divorce cases settle their terms by agreement of the parties after a period of negotiation. However, if you are unsure about what a court might order if your case goes to trial, you are at a disadvantage during these negotiations. A Bellevue Divorce Attorney can assess your case and advise you of your legal standing prior to entering into negotiations, so that you don’t make mistakes with your valuable property. Finally, not all Bellevue family law attorneys have the experience with large marital estates that others do. Since the law of community property is detailed and complex, you should contact a Bellevue Divorce Attorney with the right experience in cases involving substantial assets. Whether you are in the middle of a divorce, or if you are thinking about divorce, contact a Bellevue divorce attorney at McKinley Irvin today. Our family law attorneys have handled hundreds of cases involving substantial assets, and we know how to fight for your best interests
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2007-12-11 |
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Title: Cyprus Property In Polis : Next To Heaven
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Property in Cyprus offers a great investment opportunity as the market is booming. Whether you want to invest in property, rent a holiday home, or buy a house and settle permanently, you can find what you want in Cyprus. The property market has grown significantly over the past 10 years and since Cyprus recently became part of the EU; it is even more accessible now. A growing expatriate community is pushing up property values and the earlier people make their decision to buy Cyprus property, the better for them.
The main feature of Polis has to be the village square boasting cobbled streets, souvenir shops, banks, jewelers, chemists and bars where thirsty travelers can sample locally made wines. These include Commandaria, a sweet dessert wine favored by "Richard the Lionheart" and used as a holy communion wine. Traditional restaurants surrounding the square offer tantalizing home baked cuisine and ice cream parlors and tiny coffee shops are a few of the delights on offer.
For those looking to buy property in Cyprus, Polis may well be the answer as it is becoming a popular investment area. Future developments will include an 18 hole international golf course and a new marina. Improvements are underway to make buying property in Polis even more desirable - including a new highway to improve access across the island and to the International Airport. The trip from the airport to Polis will take only about 20 minutes when the highway is complete. There is a harmonized blend of peace and relaxation which promotes the laid back, relaxed lifestyle enjoyed by people here..
People looking to buy or sell Cyprus property are now gravitating towards Polis, as it looks like it will be a great place to maximize returns in the future. Any type and style of property can be yours as both traditional and modern styles are available, you can purchase trendy little apartments or look to larger houses. Plots are for sale in the most picturesque areas you can imagine, affording the owner the chance to develop exactly what they want (within Planning regulations) surrounded by stunning scenery. Cyprus homes in Latchi just a few miles away are also available at very affordable prices.
Paphos is currently a 30 minutes drive away, yet Cyprus property in Polis and Latchi have all the essentials needed locally, like schools, post offices, many mini-markets, fashionable clothing stores and much more. Dotted with citrus groves and overlooking turquoise seas, you can find all types of property from townhouses to luxury villas to old stone houses, and many are only a short distance from the beach.
Cyprus property is a hot item and analysts predict that this trend will continue for some time to come. Even with the growing number of homes in Cyprus under construction, it does not appear that supply will outstrip demand any time soon. If you've been thinking to buy a Cyprus property now is a great time to do it - before prices become too prohibitive. A lot of real estate investors hesitated about getting in on the ground floor of the real estate boom in Spain and have regretted it ever since.
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Bob Miles |
2007-05-19 |
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Title: Don''t Get Fleeced: Characteristics Of A Martial Community Property Relationship
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If you are married and you live in a community property state, then you should know something about the law of community property. It can get pretty complex, and the law varies somewhat from state to state. Nevertheless, following are some characteristics that may help you understand community property law a little better. 1.Joint Management and Control of Property Neither spouse may unilaterally control or dispose of the marital property – the consent of both spouses is required. For example, if your house is community property (generally speaking, if it was not a gift and if it was acquired with money that was earned by either spouse during the marriage), then your spouse will have to execute the deed in order for you to sell it – you cannot transfer the deed by yourself. 2. Severance It is commonly thought that “community property” means that each spouse owns 50% of the marital property. Of course that is an oversimplification, but in any case even when there is a 50/50 split, it applies only after divorce. While you’re still married, it all belongs to both of you. What this means in practice is that, for example, you cannot force your wife to sell your house and split the proceeds 50/50 so you can get your “cut” - you have to either divorce her or get her to consent to the sale. 3. What happens if one spouse dies? If one spouse dies without a will, the dead spouse’s 50% interest in the community property will go to the surviving spouse, meaning that the marital property will now be 100% owned by the surviving spouse. But while alive, either spouse may will his/her half interest in the community property to another to take effect at death. Some states have laws limiting this right. 4. Can creditors seize the marital property to satisfy the debts of one spouse? It depends on the nature of the debt. If the debt belongs to Husband Hal (if, for example, it was taken out before the marriage, or in some cases if assets acquired by Hal before the marriage are used as collateral to secure a debt), then Hal’s creditors can seize that property to satisfy the debt. If, on the other hand, the debt belongs to the marital community (for example, a family home acquired after the marriage), then Hal’s creditors cannot seize the marital property to satisfy a debt that belongs to Hal alone. That also means that they cannot sell the marital property, take 50% of it, and return 50% to Hal’s wife. DISCLAIMER: The following is intended for reference only and not as legal advice.
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K Damian Qualter BA MBA |
2006-11-15 |
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Title: Liverpool Property Investment
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Property In Liverpool Property investment in Liverpool, brings you onto the doorstep and into the vibrant community and vast landscape of property offerings in the big metropolitan city of Liverpool. Here, there are real cultural and estate movements underfoot. A whole range of physical, economical, social and environmental changes are happening, to revitalize this historic city . It is breathing life into what the European commission has toted typically, as a socially deprived neighborhood and community. The time is now for prospective homeowners, investors, developers and even non-resident investors to get involved to optimize this growth and initiative, by investing in property in Liverpool. True examples of this are The Liverpool Neighbourhood Regeneration Programme (LNRP) and affiliated initiatives that are transforming the inner city core, from heart to outskirt. The Liverpool City Council describes it as an innovative approach to tackling the problems faced by the most deprived communities in the City. Drawing also on the European funding or approximately £34million from the Merseyside Objective 1 Programme, this area will see a definite upswing, as different players start to address key regeneration priorities. This will certainly drive property values up and owning property in Liverpool becomes a smart investment decision, almost overnight! This has huge application and implication for property development and property investment in the city of Liverpool, off-pan purchases, buy to let and other iterations to balance your investment portfolio. The implied growth and new development projects infuse into this local economy, will translate in higher property values and potential for profit, especially if you get in early. There are many government-assisted housing projects, choice based let, housing allocations, rent, resale and new developments in town and outskirts, as well as surrounding areas alike. Liverpool is known for its shopping, waterfront and impressive architecture, and yes of course, do not forget the sports! From Albert Dock, Church Street and Bold Street to Paddy's Market, known as the birthplace of The Beatles and the home of Liverpool Football Club, you have lots of neighborhoods and property in Liverpool, to choose from. It is known throughout the world as one of the most popular places in England to visit and they have a plan in place to become the first city of offer totally free internet access ‘on every street corner’ – being totally connected and free of charge – a modern icon. Chosen as the 2008 European City of Culture Liverpool also offers lots of short and medium term property investments options, within easy reach of even the non-resident property investor. It is hard to imagine anyone not wanting to be part of the pulsing UK city and choosing more often to own property in Liverpool, even if not for their own residential purposes, but as income properties. Property management and residential let in Liverpool, is very popular. This great UK city sports and specializes in affordable housing, making it a priority and a buy to let paradise. Its slightly bigger neighbouring city, Manchester, is also attracting lots of attention, but at the same time also local opportunity and employment, away from Liverpool. This is happening in particularly the banking and service industries, but tides are also constantly changing, opening the doors that much wider for property investment in Liverpool and upgrade or even new construction projects, which all bring life back to old run-down areas. With it increased property values and the potential for profit taking and appreciation, growth and investment dollars. In the past, the docks closed and diminished some of the mainstream income for many, causing unemployment and layoffs. Today the landscape is shifting. Warehouse apartments in Liverpool’s China town, offers great opportunity for creative and savvy investors, as would the north docks lofts. All these factors will drive property values up in the next five years, making it even more attractive for potential investors.
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K Damian Qualter BA MBA |
2006-11-15 |
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Title: Liverpool Property Investment
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Property In Liverpool
Property investment in Liverpool, brings you onto the doorstep and into the vibrant community and vast landscape of property offerings in the big metropolitan city of Liverpool. Here, there are real cultural and estate movements underfoot. A whole range of physical, economical, social and environmental changes are happening, to revitalize this historic city . It is breathing life into what the European commission has toted typically, as a socially deprived neighborhood and community. The time is now for prospective homeowners, investors, developers and even non-resident investors to get involved to optimize this growth and initiative, by investing in property in Liverpool.
True examples of this are The Liverpool Neighbourhood Regeneration Programme (LNRP) and affiliated initiatives that are transforming the inner city core, from heart to outskirt. The Liverpool City Council describes it as an innovative approach to tackling the problems faced by the most deprived communities in the City. Drawing also on the European funding or approximately £34million from the Merseyside Objective 1 Programme, this area will see a definite upswing, as different players start to address key regeneration priorities. This will certainly drive property values up and owning property in Liverpool becomes a smart investment decision, almost overnight!
This has huge application and implication for property development and property investment in the city of Liverpool, off-pan purchases, buy to let and other iterations to balance your investment portfolio. The implied growth and new development projects infuse into this local economy, will translate in higher property values and potential for profit, especially if you get in early.
There are many government-assisted housing projects, choice based let, housing allocations, rent, resale and new developments in town and outskirts, as well as surrounding areas alike. Liverpool is known for its shopping, waterfront and impressive architecture, and yes of course, do not forget the sports! From Albert Dock, Church Street and Bold Street to Paddy's Market, known as the birthplace of The Beatles and the home of Liverpool Football Club, you have lots of neighborhoods and property in Liverpool, to choose from.
It is known throughout the world as one of the most popular places in England to visit and they have a plan in place to become the first city of offer totally free internet access ‘on every street corner' - being totally connected and free of charge - a modern icon. Chosen as the 2008 European City of Culture Liverpool also offers lots of short and medium term property investments options, within easy reach of even the non-resident property investor. It is hard to imagine anyone not wanting to be part of the pulsing UK city and choosing more often to own property in Liverpool, even if not for their own residential purposes, but as income properties.
Property management and residential let in Liverpool, is very popular. This great UK city sports and specializes in affordable housing, making it a priority and a buy to let paradise. Its slightly bigger neighbouring city, Manchester, is also attracting lots of attention, but at the same time also local opportunity and employment, away from Liverpool. This is happening in particularly the banking and service industries, but tides are also constantly changing, opening the doors that much wider for property investment in Liverpool and upgrade or even new construction projects, which all bring life back to old run-down areas. With it increased property values and the potential for profit taking and appreciation, growth and investment dollars.
In the past, the docks closed and diminished some of the mainstream income for many, causing unemployment and layoffs. Today the landscape is shifting. Warehouse apartments in Liverpool's China town, offers great opportunity for creative and savvy investors, as would the north docks lofts. All these factors will drive property values up in the next five years, making it even more attractive for potential investors.
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Jonathon Hardcastle |
2006-11-12 |
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Title: The Local Community
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Whether you're buying a residential house for investment purposes or as your home, the local neighborhood and community where it is located will make a big difference in your enjoyment of that property and in your prospects for the future. Here are some of the basic things to look for:
1. Essential Shops and Services
Are all the essential shops and services in the area and are they you're your house? Drive around and look for the local grocery, convenience stores, church, gas stations, dry cleaners and the like. While you're at it, take a good look at the community's leading shopping center. Oftentimes, if the local shopping center is in decline, chances are that the neighborhood is in decline as well. In addition, if there are a lot of vacant storefronts along that neighborhood, it might be a good idea to explore other options, perhaps go down a street or two for your house hunting.
2. Proximity to neighborhood center
You want your home to be neatly tucked away at the center of the residential neighborhood or as close to it as possible. You do not want to purchase a house on the edge of town or close to its outskirts. And neither do you want a house that is at the back or side of a busy thoroughfare either. If it's a single family residence you are eyeing, try to avoid purchasing property that borders a bustling business enterprise, condominium, apartment complex or school because these places are naturally bustling with activity which can be a distraction.
3. Access to major thoroughfares
The ideal property provides easy access to local highways, major traffic routes and major thoroughfares as well as to mass transit. Try to avoid purchasing a house located on a street that is a favorite shortcut of motorists between two busier streets. If it's a residential home you're thinking of buying, also avoid a house located at a corner lot since these tend to attract more street traffic and may not be that safe for children. Instead, try to find a house that is in the middle of the block or on a cul de sac. Now if it's a business or commercial property you are eyeing, a corner lot would be more desirable.
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