., mediation or arbitration) to resolve conflicts.Life Changes: Plan for marriage, divorce, incapacity, or death.Exit Strategy: Define how a party can sell their share, including buyout terms and a method for determining the sale price.Rental and Use: Define the rules for renting out the property.

According to my research a capital asset is:The IRS indicates what constitutes a real property capital improvement as follows:Fixing a defect or design flawCreating an addition, physical enlargement or expansionCreating an increase in capacity, productivity or efficiencyRebuilding property after the end of its economic useful lifeReplacing a major component or structural part of the propertyAdapting property to a new or different useA repair is as follows:Improvements that "keep" property in efficient operating conditionRestores the property to its previous conditionProtects the underlying property through routine maintenanceIncidental Repair to propertyReference is http://www.dbbllc.com/newsletters/focus/mar2012/irs-clarifies-capital-improvement-vs-repair-expenseNext time I will rent a small excavator, dig my own hole, and put on a Fernco.

For instance:At 0°F, a 36,000 BTU heat pump might still deliver close to its full capacity, around 37,000 BTUs.At -4°F, the capacity might decrease slightly to about 35,800 BTUs.At -13°F, the capacity could further drop to around 32,000 BTUs.At -22°F, you might only get about 28,000 BTUs.This reduction in capacity occurs because, as the outdoor temperature decreases, the heat pump has to work harder to extract heat from the air, which becomes more challenging as it gets colder.

There are many other things to consider besides income taxes including but not limited to: estate taxes, probate, liability protection, incapacity issues, witholding taxes on gross rental income/witholding taxes on sale of foreign property (known as Foreign Investment in Real Property Tax Act (FIRPTA)) and the list goes on.  

Note:The Administration C.T.A. are special letters of administration you must petition for when the executor in the will refuses to act or cannot act due to death, incapacity or otherwise, or if the executor resigns or his letters testamentary are revoked by the Court.

I have seen many a Will tossed out in favor of a earlier Will, even if unsigned, because incapacity or undue influence was proved. 

But you are just using estate planning and LLC's to work in the modern era to fight modern wealth destruction (law suits/judgments, healthcare expenses leading to long term care / incapacity, remarriage after death, death or remarriage of children.) 

The tenant attorney and tenant rep broker of course will try to do the opposite of what the landlord wants in ultimate guaranty security of lease, annual rental increases, and long term primary lease term.If you left it up to a tenant they would try 3 year primary lease, blocked rent increases so not annual, sales clause if not at certain level they can terminate or reduce rent, co-tenant anchor clauses, crazy broad restrictive uses for other units in the center, no personal guarantee, no disclosure of personal or business financials per the lease, set up a single entity remote LLC so they can bankrupt it for one location if things go bad, put a ROFR clause in the lease, incapacity clause where if tenant gets sick or hurt they can cancel lease, construction road widening clause where tenant can pay reduced rent while access is reduced to the center, unreasonable CAM cap clauses, etc.I can go on and on with the crap I have seen in leases for my clients buying retail centers where I am the broker.

Death, incapacity, and divorce of one of the owners will not necessarily affect the ability to sell, mortgage, or otherwise deal with the real estate.

After a few days of the letter being sent out, my attorney received a letter back from the sellers attorney stating that I should back off and that the contract was not enforceable because supposedly the seller was not in "capacity" to enter into a contract at the time of signing.