June 2012

Divorce is hardest on children. Regardless of how young kids are, they know when something is wrong between their parents. However, when a couple uses traditional divorce methods, the process of separating can be even harder on children. In addition to being more cost-effective, mediation enables a family to sustain a divorce in a gentler manner. Mediation is a positive process that focuses on moving forward instead of arguing over mistakes from the past. The process takes place in a comfortable environment agreed upon by each spouse. While this may not seem like a big change, a venue other than a courtroom can significantly reduce hostility between spouses.Continue Reading Mediation: A Better Choice than Divorce if You Have Children

The Virgin Islands Housing Management, Inc. (VIHM), together with Reliance Housing Foundation recently announced the long awaited onset of the demolition and new construction redevelopment phase of the Emergency Housing Hospital Ground Apartments on St. Thomas, U.S. Virgin Islands.  Ronald R. Pennington, Chair of the BoltNagi PC’s Real Estate & Financial Services Practice Group served as counsel to Reliance Housing Foundation in the transaction.Continue Reading BoltNagi Facilitates $20M Transaction to Revitalize Hospital Ground Housing

If you are currently considering selling and acquiring property of similar value, perhaps a 1031 exchange is right for you. A 1031 exchange differs a typical real estate sale because the property is considered to be exchanged instead of sold. Partial exchanges also qualify and receive partial tax-deferred treatment. One of the main advantages of a 1031 exchange is that the taxes are deferred, unlike those of a sale. As no economic gain has been realized, the government allows you to bypass the payment of taxes.Continue Reading 1031 Exchange: Is It Right For You?