Though LandAmerica clients lost millions, no bailout granted
By Chris Adams | McClatchy Newspapers
Posted on Saturday, March 20, 2010
He'd entered into a 1031 exchange agreement with LandAmerica. By selling a property in Virginia and buying a new one in Illinois, he could avoid capital gains taxes on the Virginia sale by using a "qualified intermediary," and LandAmerica was one of the best known. The contract said that LandAmerica "unconditionally guarantees the return" of his money.
Tuesday, March 23, 2010
I DON'T HAVE ANY SYMPATHY FOR THESE PEOPLE
They tried to use a legal tax dodge and got burnt. Cry me a river...
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