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Rob
2014-07-31
I needed some legal forms quickly in a divorce case. The forms were exactly what I wanted and needed. PDFiller allowed me to do it quickly and easily. The option to color filled in text would be great.
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2018-10-14
Makes My Job Easy
I use PDFfiller to create contracts and purchase orders. For contracts, I typically input data into Excel, and then use PDFfiller to create the finished contract from my Excel data. For purchase orders, I use PDFfiller to edit document information, highlight items, and sign the document. This saves me the hassle of having to print out documents, edit them by hand, and then scan/fax them. Very happy with PDFfiller, as it most certainly makes my job easier.
PDFfiller has all the features that I need for my documents: adding a logo, highlighting, and drawing. I also think that it's great how you can seamlessly use Excel data to fill out forms automatically. This is especially helpful when creating contracts.
The price is a little steep for what I see as somewhat of a basic software concept; however, it's worth it in my opinion. There is also a decent learning curve, but once you get the hang of all features, you can automate things and fill out your PDFs very quickly.
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Below is a list of the most common customer questions. If you can’t find an answer to your question, please don’t hesitate to reach out to us.
Who pays property taxes on a contract for deed?
However, in a typical contract for deed, the buyer becomes responsible for the obligations of a mortgagor in possession, such as maintaining the property and paying property taxes and casualty insurance. In addition, unless prohibited by the contract, either party may sell his or her interest in the contract.
Who pays property taxes on a land contract?
On a land contract, the buyer is responsible for property taxes, insurance and mortgage interest, although these will usually be paid through the seller. However, the buyer does get to deduct them from his or her taxes. The seller cannot.
Is land contract income taxable?
The major tax benefit to a seller is that it's an installment sale for tax purposes. As an installment sale, the seller pays any capital gains taxes over the contract's length, not all at once. Also, interest income earned by sellers in land contract sales is taxed at ordinary income rates.
Who pays homeowners insurance on a land contract?
Though the buyer is responsible for insurance in most land contracts, if you are the seller, it might be worth your while to carry coverage on the property until it has been paid off and the title transferred to the new owner.
What are the disadvantages of a land contract?
Most of the disadvantages of land contracts for buyers of property stem from the fact that the Vendée (buyer) does not receive the deed to the property at closing. The Vendée obtains equitable title, but the vendor (seller) retains legal title. This situation usually exists until the land contract is paid in full.
Who pays taxes on contract for deed?
Under a contract for deed arrangement, the seller retains the title to the property until the buyer completes all payments. Nevertheless, the buyer is responsible for paying real estate taxes on the property, even though the tax is assessed against the seller.
Is contract for deed income taxable?
Seller Tax Benefits The IRS allows contract for deed home sellers to control how their capital gains is reported. Additionally, any interest income you receive from your contract for deed buyer can be declared as ordinary income. You report your contract for deed installment sale income annually to the IRS.
What are the disadvantages of a contract for deed?
One disadvantage of a contract for deed to the seller is that clearing the title may take time and money if the buyer defaults on the contract, according to Real Town. In addition, the seller can immediately foreclose on the property if the buyer defaults, and the buyer has no recourse against the seller.
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