Word: leaseback
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...serious impediment. But when Brown appeared before the committee last fall and no Republican Senators asked any questions, he thought it would be prudent to put his house in Berkeley, California, up for sale in January. Despite the sluggish market, a buyer miraculously appeared. Brown negotiated a four-month leaseback, but the family had to move out before confirmation. They no longer have meals together in their eat-in kitchen because there is no kitchen. School tuition is paid on a per diem basis. Every book, picture album, game and bicycle is in storage. Even if the new owners hadn...
...explaining the sale to Harvard, TACspokesman Kitty Gormley also said that the"sale-leaseback of the building to a responsiblebuyer offered substantial financial advantages toTAC...
...spokesman for TAC, a nationally-known architectural firm, said thatHarvard's leaseback agreement provides TAC optionsto extend the lease after...
...advisers. His chief consultant, Irving Spaatz (Jules Munshin), is a legal weasel of wizardry inventiveness. Munshin plays the role in droll fashion and is astonishingly agile at working his way through a verbal tax maze of inflated gibberish that includes explanations of convertible debentures, spinoffs, and sale-leaseback arrangements...
...Murray sees it, the most blatant constitutional violation is church-owned property that is not used for religious purposes. Many state laws are so broad that churches-and fraternal organizations-may buy such property with leaseback arrangements under which they rent it to the former owners; income from the rents and leases is taxfree. The Roman Catholic Knights of Columbus do not pay income taxes on their rental revenue, which comes from such sources as the land on which Yankee Stadium stands, a Detroit steel warehouse and a Connecticut steel mill. In New Orleans, Jesuit-run Loyola University pays...