A Florida law no longer permits the common practice of transferring real estate property to a wholly owned company to avoid payment of documentary stamp tax on real estate sales in the state. "Just before the real estate bubble escalated, buyers could often be found structuring transactions in such a way that one could pay more tax conveying an $80,000 condo than a $50 million office building," said Mario A. Iglesias, a shareholder and real estate attorney with Roetzel & Andress of Fort Lauderdale, Fla. "The approach, which started in 2005 with the Florida Supreme Court decision in Crescent Miami Center v. Florida Department of Revneue (903 So.2d 913), essentially held that transfers of real property as a capital contribution to a wholly owned business entity were exempt from the imposition of documentary stamp taxes. The idea here was to convey title to real estate to a newly … [Read more...]
Movers & Shakers in Florida Law
David A. Yarema has joined Burman, Critton, Luttier & Coleman in West Palm Beach as an associate. Yarema will focus his practice on personal injury and products liability. Douglas Swalina has joined Adorno & Yoss in Miami as an associate. His practice focuses on business litigation and general litigation. Todd Norman has joined the Commercial Litigation Practice Group in the Orlando office of Broad and Cassel. Bernard Barney Harold Gentry, Jr. also joins the firm as Of Counsel. Norman is an experienced commercial litigator with an emphasis on real estate, creditors rights, construction and business disputes. His clients range from multinational financial institutions to contractors, developers and banking institutions. Carol Peake Passman has formed the office of Carol Peake Passman, Attorney at Law, where she will continue to practice in the areas of family law, criminal law, … [Read more...]
Mateer's Frank Pierce Named President of FDLA
Orlando, Fla. Francis Pierce, a partner at the Mateer Harbert law firm, has been named president of the Florida Defense Lawyers Association (FDLA). Pierce has been involved with FDLA for more than 30 years. Founded in 1967, the FDLA was formed to bring together civil defense attorneys and to provide a forum for its members to exchange information and elevate the level of trial practice thereby promoting the improvement of justice in Florida . During my term, I want to see members get the most bang for their buck the best return on their investment, said Pierce. As president, he will uphold the Associations founding principles as both a professional and family-friendly organization, but will also strive to cultivate a high level of practical educational and networking opportunities. Pierces involvement in FDLA began in 1979, shortly after he began practicing law. He has previously … [Read more...]
