Under a self-cancelling installment note (SCIN), the selling business owner agrees to sell property to a buyer (often, the owner’s children or other beneficiaries) in exchange for an installment note ...

In an economy still struggling on many fronts, installment sales offer a useful tool for many taxpayers to create liquidity to buy and sell property in an otherwise "credit-sparse" environment. With ...

The buyer gave the taxpayer installment notes that were supported by standby letters of credit (issued by Lender A) that were nonnegotiable and could only be drawn upon in the event of default. The ...

A self-canceling installment note (SCIN) is a debt obligation that by its terms is extinguished at the death of the seller-creditor, with the remaining note balance canceled automatically. The ...

Tax Appeals Tribunal columnist Joseph Lipari discusses '1018 Morris Park Avenue Realty', in which the New York City Tax Appeals Tribunal ruled that a corporation must recognize all gain derived from ...