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Mitchell Reed Sussman
About | Practice Areas
Mitchell Reed Sussman & Associates
410 South Rampart Suite 390 Las Vegas, NV 89145» view map
Timeshare
45+ Years of Experience

The Law offices of Mitchell Reed Sussman & Associates has been in business for over 45+ years specializing in real estate litigation.

800-814-6930
1. Mitchell Reed Sussman Las Vegas, NV
  Attorney at Law- CA, 1977
2. AboutMitchell Reed Sussman & Associates
  45+ Years of Experience
3. Practice AreasExpertise
  Timeshare
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2. Email
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LEGAL TERMS

BASIS

For income and capital gains tax purposes, the value that is used to determine profit or loss when property is sold. Often the basis is what you paid for the pr... (more...)

For income and capital gains tax purposes, the value that is used to determine profit or loss when property is sold. Often the basis is what you paid for the property, 'adjusted' to reflect improvements made or damage incurred while you own the property. See stepped-up basis, carryover basis.

LIMITED EQUITY HOUSING

An arrangement designed to encourage low-and moderate-income families to purchase housing, in which the housing is offered at an extremely favorable price with ... (more...)

An arrangement designed to encourage low-and moderate-income families to purchase housing, in which the housing is offered at an extremely favorable price with a low down payment. The catch is that when the owner sells, she gets none of the profit if the market value of the unit has gone up. Any profit returns to the organization that built the home, which then resells the unit at an affordable price.

SHORT SALE (OF HOUSE)

A sale of a house in which the proceeds fall short of what the owner still owes on the mortgage. Many lenders will agree to accept the proceeds of a short sale ... (more...)

A sale of a house in which the proceeds fall short of what the owner still owes on the mortgage. Many lenders will agree to accept the proceeds of a short sale and forgive the rest of what is owed on the mortgage when the owner cannot make the mortgage payments. By accepting a short sale, the lender can avoid a lengthy and costly foreclosure, and the owner is able to pay off the loan for less than what he owes. See also deed in lieu (or foreclosure).

FORECLOSURE

The forced sale of real estate to pay off a loan on which the owner of the property has defaulted.

REAL ESTATE

Land and the property permanently attached to it, such as buildings, houses, stationary mobile homes, fences and trees. In legalese, real estate is also called ... (more...)

Land and the property permanently attached to it, such as buildings, houses, stationary mobile homes, fences and trees. In legalese, real estate is also called real property.

MULTIPLE LISTING SERVICE (MLS)

A computer-based service that provides real estate professionals with detailed listings of most homes currently on the market. Much of the information can now b... (more...)

A computer-based service that provides real estate professionals with detailed listings of most homes currently on the market. Much of the information can now be obtained by the public through websites like www.realtor.com.

USE TAX

A tax imposed by a state to compensate for the sales tax lost when an item is purchased outside of the state, but is used within the state. For example, you buy... (more...)

A tax imposed by a state to compensate for the sales tax lost when an item is purchased outside of the state, but is used within the state. For example, you buy your car in a state that has no sales tax, but you live across the border in a state that does have a sales tax. When you bring your car home and register it in your state, the state taxing authority will bill you for the sales tax it would have collected had you bought the car within the state.

ASSIGNMENT

A transfer of property rights from one person to another, called the assignee.

BORDER PATROL

The historical term for what is now called the Bureau of Customs and Border Protection ('BCBP'), a branch of the Department of Homeland Security. The primary fu... (more...)

The historical term for what is now called the Bureau of Customs and Border Protection ('BCBP'), a branch of the Department of Homeland Security. The primary functions of the BCBP/border patrol are to guard the borders from illegal entrants and to meet and question immigrants and visitors arriving at airports and other border stops.

Indianapolis Timeshare Lawyer, Indiana

Sponsored Law Firm

Mitchell Reed Sussman & Associates

SPONSORED LAWYERS

C. Duane O'Neal

Andi M. Metzel

Paul F. Lindemann

Paul J. Dunne

Marvin H Mitchell

Denise K. LaRue

Richard Dick

Kristen E. Edmundson

Matthew R. Breeden

Andrea L. Hermer

TIPS

LEGAL TERMS

BASIS

LIMITED EQUITY HOUSING

SHORT SALE (OF HOUSE)

FORECLOSURE

REAL ESTATE

MULTIPLE LISTING SERVICE (MLS)

USE TAX

ASSIGNMENT

BORDER PATROL

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