Legal Update

Understanding the "Tax-Free" 1031 Exchange

By: Christopher J. Charles, Esq.

Section 1031 of the Internal Revenue Code allows you to defer paying taxes on any gain realized on the sale of investment property if you reinvest those proceeds back into a new property. There are some general rules you need to know about a 1031 exchange: (1) some personal property does qualify, (2) exchange must be “like-kind”, (3) delayed exchanges are permitted, and etc.

Introducing Blake T. Wilkie, Esq.

Provident Law® is proud to announce that Attorney Blake Wilkie has joined the firm. His practice focuses primarily on real estate litigation and preventive counsel. He represents property owners, property managers, landlords, and brokers. He also advises clients on business formation and lending issues. Prior to joining Provident Law®, Blake worked for a boutique real estate firm in Scottsdale and he served as in-house counsel for a national lender. Blake obtained his J.D. from the Sandra Day O’Connor College of Law at Arizona State University, where he was served as the Managing Editor of the Arizona State Law Journal and President of the Sports and Entertainment Law Students Association.

MORE ABOUT BLAKE

What Church Leaders Need to Know About Copyright Law When Streaming Services

By: Erik W. Stanley, Esq.

Due to the COVID-19 pandemic, most churches have been streaming services online in order to continue to minister to their congregations. Some churches live-stream their services on their Facebook pages or post their services there after the live event. Since many services use copyrighted worship music and lyrics — either through public platforms like YouTube assuming their right to use the material falls under “fair use” law, or by having a licensing agreement with entities like Christian Copyright Licensing International (CCLI), Christian Video Licensing International (CVLI), or Christian Copyright Solutions (CCS) — churches may assume they are protected. But this is not always the case.

Tips to Help Prevent REALTORS®

from Getting Sued

By: Christopher J. Charles, Esq.

Because buying or selling real property is one of the largest financial transactions most people will ever make, there is a larger potential for legal action if things go sideways. A lot of times, the real estate agent will bear the brunt of the blame and may find him or herself defending a lawsuit. Some tips are: consider incorporating, insist on full disclosure, and document everything. We advise, structure, negotiate, and document a variety of real estate and financing transactions, including leases, purchase and sale agreements, financing agreements, and development agreements for a variety of commercial and residential projects.

PROVIDENT LAW®

PRACTICE AREAS

COMMERCIAL LITIGATION

ESTATE AND TRUST PLANNING

BANKRUPTCY | CREDITOR’S RIGHTS

COLLECTIONS

GUARDIANSHIP | CONSERVATOR

ADRE AND ADMINISTRATIVE LAW

CHURCH AND NONPROFIT

PROBATE & TRUST

CHURCH MINISTRY PRACTICES

RELIGIOUS LIBERTIES

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