Rancho Opportunity for Teens in Long Beach

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The Rancho is seeking motivated students who want to improve their communication skills, enhance their knowledge of local history, and be introduced to exciting career options in museum education and public history, for a NEW Teen Docent Program.  Students will first participate in an eight-week training course Monday and Wednesday afternoons, October 16–December 6, from 4:30-6 p.m.  The course focuses on California and Rancho history, as well as museum interpretation techniques, and will prepare RLC Teen Docents to give guided tours of the historic house, implement educational programs for young visitors, and work on museum projects directly with staff. The total training/service commitment for the RLC Teen Docent Program is 100 hours, which will be completed during the 2006-7 school year.  The program more than fulfills service learning requirements for graduation, and will look terrific on a college or job application!  RLC Teen Docent Program applications must be received by October 13, 2006.   

For additional information, or to get an application for the RLC Teen Docent Program, please call (562) 570-1755 or visit the volunteer page at www.rancholoscerritos.org.

Real Estate Exchange Transaction, Long Beach

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What is it?  It delays paying real estate tax gains and depreciation taxes.  Seller feel it is a great way to get out of a property when sales are few and far between.  The 1031 Delayed Exchange is different in the sense that there is a gap between when the sellers sells and buys the other one.  A Reverse Exchange is when a property is bought before selling the original. 

The value,  equity and debt of the replacing property must equal or greater than the value of the original one. 

Proceeds generated by the sale must be held by a Qualified Intermediary as defined by the IRS.  That person is an independent entity and cannot be the taxpayer.  Obviously, it must be someone you can trust.  It important to abide to every requirements the IS establishes or else you could end up paying taxes.  For instance, the delayed exchange must happen within 45 days from the sale of the original property with 180 to close escrow.

Any professional real estate agent and escrow company will guide you through the steps.