Evening star., 1926-06-19
REALTORS REQUEST
TREASURY'S HELP
Want Liberal Regulations on
Deferred Payment Plan in
Sale of Property.
Request that the Treasury Depart

Request that the Treasury Depart
ment Incorporate in the regulations
to he promulgated for the -administra-
ton of the Federal income tax law
the fullest possible provision Icr tle
sale of real estate on a deferred pa'
ment basis and necessary specific pro
visions TO cover syndicate agreements
in real estate Development was ma.ie,
by the National Assoc iation o. Esa}
Estate Boards IN resolutions passed
ct it's annual C"nHenlon JUS con-
cluded at Tulsa, Okla.
The association ;tsh& mat, Il neCeS-
Sary. The Federal inlome tax law be
so amended by Congress as TO permit
a regulation in regard To syndicate
agreements for real esta.e develop
ment and pledges itself to Use every
effort to cooperate Wlh the treasury
Department and with Congress TO Sc
cure additional legislation which shall
properly safeguard and protect TIE
important part oi the real estate hus!-
ness of the country whi4h is carried
on through a deferred payment plan.
Sale Pan Defended.
1.-The sale OF real estate on a de-
ferred payment basis is q well recog-
nized and sound p,an. and the only
pie may purchase homes" the reso-
luton points ou,.
The Federal income tax law and the
regulations under l. have noc ade-
quately provided for the return for
taxation of deferred payment sales o.
real property when 81 ii sales are not
on an inStallment basis, the assoCia-
ton holds.
In regard to The syndicate form of
enlisting capital for real estate invest
ment the association asis that the
provisions be SO fixed as 10 meet the
actualities OF business pra tue In
the nature of the organization o. SYM
dicate undertakings it is impossible
to determine neither or not there is
TO be any profit accruing until such
time as the original capital paid in
shall have been returned to the par
ticipants in the enterprise. The as
sociation asks that the taxpayer he
permitted 10 make return in such
cases on the basis that no taxable
gain shall have accrued until the ini-
tial outlay has been recaptured.
Uniform Mortgage Act.
The association heartily indorsed
the uniform mortgage act III its tenta-
tive form as drafted by a committee
of the national conference of COM
nllSSlOnerS on UNIFORM StdtS laws ana
urged its official Endorsement in it's
present form by the national confer
ence and by the American Bar AS
sociatiOn.
Expressing it's sympathy with the
movement to give the farmer, on a
sound economic basis, a reward for
his energy comparable 20 his effort
and on a parity with the price he has
to pay for the products which he
consumes and expressing the opinion
of the members OF tho associat Jon that
the agricultural possibilities of the
United States have been only par
TALLY developed, the assoc.a ion called
for support for any effort to make a
more extensive and intensive Use of
our land resources and TO promote
desire on the part of American citi-
zens to follow Agricultural pursuits
Calling attention 20 the lemarnabla
work of the United States Department
Of Commerce toward the elim!na ion
of waste in all forms Of industry. par
ucularly the successful efforts OF the
department in the field OF building
construction. the association pledged
Its cooperation in future work toward
similar obiectiVes.