Prof. Chris Odinet recently wrote a piece for the Property Law Prof Blog on the consequences for the real estate community of the current proposals being floated in Congress by the GOP to reform the U.S. tax code.
In his post he states: “So what does tax reform have to do with property law? Well, what’s being proposed in the Ryan plan actually has A LOT to do with how real estate is financed, acquired, and held in the U.S.” Odinet discusses how changes will affect the mortgage interest deduction, the provisions that exclude gain from the sale of a principal residence, and possible changes to or the elimination of the affordable housing tax credit.
“We’ll have to wait and see whether all or any of these changes come to fruition,” notes Odinet. “Powerful interests have already started to line-up behind these tax provisions—no one wants to give up their special interest break, particularly those in the real estate and homeownership community.”
His post can be viewed by clicking here.
Odinet joined the Law Center faculty in 2013 and is the Horatio C. Thompson Endowed assistant professor of law. He is a frequent speaker on issues related to mortgage finance, real estate, and consumer financial protection. He is a 2016-18 Louisiana Bar Foundation Scholar-in-Residence and recently was appointed as an inaugural real property scholar with the American College of Real Estate Lawyers and the American Bar Association Section of Real Property, Trust & Estate Law. Odinet is also one of Louisiana’s four delegates to the Uniform Law Commission, a national state law reform body. View his scholarship by clicking here.