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Re: New ownership of the Manhatten Club (by Nathan Z.):

Thanks for the tip, Lena! There have been some owners talking about a "deed in lieu" exit strategy. I'd be wary that even after you give up the deed, "forgiveness" will arrive in the mail next spring as a tax bill. Deed in lieu usually creates a tax "consequence." I won't say liability because it depends on individual situations, but for most people, it's not a desirable outcome. If you get offered this option, consult a tax professional before making any move.