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Due Diligence-Residential Property

Knowing the home-buying basics (see is one of the many steps you can take towards purchasing a property. Prior to purchase, it is the responsibility of the buyer to perform a thorough inspection of the property, often referred to as “due diligence.” The whole process of buying a house […]

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PA Income Taxes and Discharge of Debt

In a recent Pennsylvania Supreme Court case, the court upheld the Commonwealth court’s decision that nonresident limited partners, in a partnership with the sole purpose of investing in property located in Pennsylvania, are responsible for Pennsylvania income taxes on their share of income from a discharge of debt as a […]

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Due Diligence-Commercial Property

Generally, a buyer will purchase commercial property in its “as-is”, “where-is” and “with all faults” condition. The two biggest protections the buyer has when purchasing a property is the representations and warranties of the seller set forth within the agreement of sale, and the ability of the buyer to perform […]

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