I don't recognize the mistakes you mentioned it looks legit to me I think.........

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@Joe Splitrock Votes are just a way to recognize the value of contributions.  

Rich, i would look into that more, i believe that Pennsylvania does not recognize Land trust when it comes to Real Estate and will not offer you any protection or very minimal protection.

Friends tell me that I wouldn't even recognize WP these days.

The issue is if the attorney only sues the owner of the property an additional insured endorsement alone will not cause the policy to recognize a claim.

Excess amounts paid are considered a down payment and that can always be refunded in any court.Ohio recognizes the uniform commercial code, as do all states, there is nothing unique about Ohio with respect to types of contracts and now, this year, the IRS makes the determination of an installment sale or purchase contract at which point other agencies can then follow suit with applicable laws to the type of contract you may have.Using the words "Option", "Optionee" and "Optionor" are not sufficient to define your intent to sell, that comes from the amount of money paid, the term of the agreement, the price agreed, and the likely intent of the buyer to execute the agreement.

This is designed for CA to not lose track of your deferred gain so that if you ever recognize the gain they can get the associated tax from the time you owned there.  

Regarding your question about the 5-year period, I believe you are talking about the built-in-gains (BIG) tax but you may also be talking about Section 351 transfers.The BIG tax allows you to avoid taxation at the highest corporate level on your built in gains when you convert a C Corp to an S Corp as long as you don't sell the property or otherwise recognize those gains within a five year period.

With option 2, my costs go up $350 immediately beyond the normal insuring cost and will add $350 additional for each property I add since they don't aggregate or recognize any savings by having a central umbrella policy.