Rescision

[ivanl3]

What is the name of your state (only U.S. law)? NV

If one sues a condo developer and seeks and is granted rescision as a remedy (i.e. - the developer takes the unit back and I get my money back), does the lawyers contingency % apply to sale price of the condo or is it calculated in some other way? If it is some other way, please elaborate.

I know the utlimate answer is that it depends on the contract I sign w/ the lawyer, but I am wondering how this is typically done.

 

[racer72]

You posted in the wrong forum, this is the auto accident forum. Please delete your post and place it in the Consumer Contracts, Guarantees and Warranties forum.

 

[LdiJ]

What is the name of your state (only U.S. law)? NV

If one sues a condo developer and seeks and is granted rescision as a remedy (i.e. - the developer takes the unit back and I get my money back), does the lawyers contingency % apply to sale price of the condo or is it calculated in some other way? If it is some other way, please elaborate.

I know the utlimate answer is that it depends on the contract I sign w/ the lawyer, but I am wondering how this is typically done.

Its a whole more complicated than you may believe. (for tax purposes) It depends on lots of different factors including whether or not the property was your primary residence or investment property.

Its more complicated than I have the time to devote to it at this time of the year. Therefore I suggest that you get yourself a consult with a local tax professional.

 

[LdiJ]

Something is messed up with the forums....I have been responding to tax forum posts tonite and they have been consistantly ending up here.....

I am really confused.

 

[Isis1]

Something is messed up with the forums....I have been responding to tax forum posts tonite and they have been consistantly ending up here.....

I am really confused.

okay, i've tried this 5 times. i am officially creeped out. i take it this might not get fixed until monday