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For a variety of reasons, tax partnerships (usually in the form of state law limited partnerships or limited liability companies) have long been used as the instrument to house mineral interests held by landowners.
“Foreclosure in California—A Crisis of Compliance” is a recent “audit” report commissioned by the City and County of San Francisco to determine the mortgage industry’s compliance with applicable laws, and has national significance with respect to the foreclosure crisis.
Art investors, including individuals, corporate collectors, and museums, that own appreciated works may desire either to cash out of their investment or to replace their artworks with new ones. Applying a technique that is generally used by real estate investors, an art investor may be able to sell an artwork the investor owns, purchase another artwork, and defer the tax liability on the gain.