THE MALDEN ADVOCATE–Friday, January 19, 2024 Page 15 For Advertising with Results, call The Advocate Newspapers at 617-387-2200 or Info@advocatenews.net ~ LEGAL NOTICE ~ MORTGAGEE’S SALE OF REAL ESTATE By virtue and in execution of the Power of Sale contained in a certain mortgage given by JIN Properties, LLC to Latitude Capital, LLC, a Delaware limited liability company, dated May 3, 2023 and registered with the Middlesex Southern District Registry of Deeds District of the Land Court as Document Number 1936478 on Certificate of Title Number 281895, as affected by an Assignment of Commercial Mortgage from Latitude Capital LLC to the Latitude Capital, LLC, Trustee of the Latitude Capital Lending Trust u/d/t dated August 1, 2018, dated May 3, 2023 and being registered with the Middlesex Southern District Registry of Deeds District of the Land Court as Document Number 1936479 on Certificate of Title Number 281895 of which mortgage the undersigned is the present holder, by assignment, for breach of the conditions of said mortgage and for the purpose of foreclosing the same will be sold at Public Auction on February 5, 2024 at 11:00 A.M. at 135 Elwell Street, Malden MA all and singular the premises described in said mortgage, To wit; A certain parcel of land situated in Malden in the County of Middlesex, Massachusetts and bounded and descried as follows: SOUTHWESTERLY NORTHWESTERLY NORTHEASTERLY feet; SOUTHEASTERLY by the Northeasterly line of Elwell Street, sixty-two and 50/100 feet; by Lot K as shown on plan hereinafter mentioned, eighty feet; by land now or formerly of Joseph O. Maloney, sixty-two and 50/100 by Lot F on said plan, eighty feet. Said parcel is shown as Lot L on said plan (Plan No. 20421E). All of said boundaries are determined by the Court to be located as shown on a subdivision plan, as approved by the Court, filed in the Land Registration Office, a copy of which is filed in the Registry of Deeds for the South Registry District of Middlesex County in Registration Book 440, Page 325 with Certificate 65971. Subject to and with the benefit of easement, reservations restrictions and takings of record if any, insofar as the same are now in force and applicable. In the event of an error in this publication, the description of the premises contained in said mortgage shall control. Premises to be sold and conveyed subject to and with the benefit of all rights, rights of way, restrictions, easements, covenants, liens or claims in the nature of liens, improvements, public assessments, any and all unpaid taxes, tax titles, tax liens, water and sewer liens and any other municipal assessments or liens or existing encumbrances of record which are in force and are applicable, having priority over said mortgage, whether or not reference to such restrictions, easements, improvements, liens or encumbrances is made in the deed. Terms of sale: A deposit of Ten Thousand Dollars ($10,000.00) by certified or bank check will be required to be paid by the purchaser at the time and place of sale. The balance is to be paid by certified or bank check at Hadlock Law Offices P.C. within thirty (30) days from the date of sale. Deed will be provided to purchaser for recording upon receipt in full of the purchase price. In the event of an error in this publication, the description of the premises contained in said mortgage shall control. Other terms to be announced at the sale. Latitude Capital, LLC, Trustee Latitude Capital Lending Trust Present holder of said mortgage. By Its Attorneys, Hadlock Law Offices P.C. 111 Speen Street, Suite 200 January 5, 12, 19, 2024 REAL ESTATE TRANSACTIONS BUYER1 CARISTINOS, STEVEN CATINO, STEVEN G MINIE, NATHAN PRATHEES, SHARANIGHA THIRU, PRATHEES BUYER2 SELLER1 CARISTINOS, DENNIS C CATINO, PATRICK H DESCHAMP GROUP LLC YU, CHAO SELLER2 CARISTINOS, STEVEN 10 YEAR PAYOUT FOR RMDs T he IRS has clarified when non-spouse beneficiaries of IRA or 401(k) accounts must withdraw monies from the account after the owner’s death. These withdrawals are known as Required Minimum Distributions (RMD’s). If the account owner dies prior to the Required Beginning Date (RBD), the date the account owner must begin withdrawing monies from the IRA account or 401(k) account, the beneficiary must empty out the account by the end of the 10th year following the account owner’s death. If the account owner dies after the RBD, the beneficiary must withdraw monies out of the inherited IRA or 401(k) account each year and must also empty the account by the end of the 10th year after the account owner’s death. The RBD is now age 73 under the SECURE ACT 2.0. Pursuant to IRS Notice 202253, the IRS intends on following this approach. As an example of how this area of the tax law operates in practice, assume a mother and father both die in a simultaneous death. The mother is age 69 and the father is age 74. They have one child who is named the 100% secondary beneficiary of each of their IRA accounts. Since the mother had not yet reached her RBD, the child simply needs to empty out this inherited IRA account by the end of the 10TH year following her death. No annual RMDs are required. Since the father died after his RBD, the child needs to withdraw annual RMDs from this inherited IRA account over a 10- year period and must also empty it out by the end of the 10th year following his death. If an IRA or 401(k) owner dies before his RBD and the beneficiary is the owner’s estate or a nonqualifying Trust, the beneficiary must empty out the account by the end of the 5th year following the account owner’s death. No RMDs are required during this fiveyear period. If, however, the account owner dies after his RBD, the estate or nonqualifying Trust can withdraw the remaining account balance over the remaining life expectancy in years of the account owner reduced by 1 each year after death. This is often referred to as the “ghost” life expectancy. If a qualifying Trust is the beneficiary of the IRA or 401(k) plan, then the five-year period is extended to 10 years. Essentially, the Trust must be a conduit or see-through Trust meaning the beneficiaries are clearly identified pursuant to the provisions of the Trust. Once the account owner starts withdrawing RMDs, they cannot subsequently be turned off after his or her death. If, however, the surviving spouse is the beneficiary of the IRA or 401(k) account, he or she can establish his or her own “spousal” IRA account and refrain from taking RMDs so long as he or she has not yet obtained the age of 73 under the SECURE ACT 2.0. Once reaching the age of 73, RMDs must be withdrawn based upon the IRS life expectancy tables. Joseph D. Cataldo is an estate planning/elder law attorney, Certified Public Accountant, Certified Financial Planner, AICPA Personal Financial Specialist and holds a master’s degree in taxation. Copyrighted material previously published in Banker & Tradesman/The Commercial Record, a weekly trade newspaper. It is reprinted with permission from the publisher, The Warren Group. For a searchable database of real estate transactions and property information visit: www.thewarrengroup.com. ADDRESS 170 BRYANT ST 37-43 MADISON ST 18-18R PLAYSTEAD RD 46 PIERCE ST CITY MALDEN MALDEN MALDEN MALDEN DATE 01.02.24 01.02.24 01.05.24 01.02.24 PRICE 395000 807500 859000 812000
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