To: grundle
In this case I have to ask, what would we expect the police to do? Leave the suspect in possession of the house?
As for the family as renters, not much different than a house fire or tornado. Local relief agencies like Salvation Army or Red Cross will provide for a short stay while they seek replacement rental.
Landlord has just gotten a total loss on his rental house. What is not covered by insurance will go on tax return. Business loss can go back several years so he might recover prior year taxes. If not, the loss carries forward against future profits.
7 posted on
11/12/2021 2:33:39 AM PST by
SES1066
(Ask not what the LEFT can do for you, rather ask what the LEFT is doing to YOU!)
To: SES1066
Most policies do not cover deliberate destruction by the government.
11 posted on
11/12/2021 2:37:17 AM PST by
Spktyr
(Overwhelmingly superior firepower and the willingness to use it is the only proven peace solution.)
To: SES1066
In this case I have to ask, what would we expect the police to do? Leave the suspect in possession of the house? For starters, they should have turned off the water and electricity and then waited him out.
-PJ
28 posted on
11/12/2021 4:19:42 AM PST by
Political Junkie Too
( * LAAP = Left-wing Activist Agitprop Press (formerly known as the MSM))
To: SES1066
I have to ask, what would we expect the police to do? Leave the suspect in possession of the house?Have a heart! Could they not have tried lobbing tear gas or smoke bombs in a part of the house, instead of destroying the clothing, toys, family photographs, jewelry, documents, and furnishings of seven people? Are the adults' employers going to give them time off to deal with replacing all they have lost? Have you ever tried to clothe and shoe five children of different sizes, all at once? She probably had bags of clothes and shoes from the older kids to be worn again by the younger kids—all gone now. And winter is coming.
56 posted on
11/12/2021 8:43:20 AM PST by
Albion Wilde
(Freedom is a road seldom traveled by the multitude. --Frederick Douglass)
To: SES1066
This situation is not covered by usual homeowners insurance - there have been other stories on people in similar circumstances. It is a total loss to the property owner
63 posted on
11/12/2021 9:57:16 AM PST by
Mom MD
( )
To: SES1066
Landlord has just gotten a total loss on his rental house. What is not covered by insurance will go on tax return. Business loss can go back several years so he might recover prior year taxes. If not, the loss carries forward against future profits.
Aren't such losses a deduction to income, not a direct tax credit? So all he's recovering taxwise is, at best, the loss times his maybe 20% tax rate. He still loses ~80% of the value.
Even if he can credit the full value, and not just deduct it, I doubt he has hundreds of thousands of dollars in recoverable taxes, plus loss of income during rebuild, plus time and effort, plus etc. Many landlords only own a couple properties, so his income may only be tens of thousands a year, so maybe a thousand or two in paid taxes yearly. Which means decades to recoup even a cheap $100M house.
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