Otherwise, you'll save more tax dollars by foregoing the home mortgage interest deduction and claiming the standard deduction instead. Complete Schedule A and compare the total of your itemized deductions to your standard deduction to find out which method is most advantageous for you.
How long a patent lasts depends on the type of patent being issued and the country issuing the patent. For example, under recent changes in the laws, in the United States, patents are now granted for a term of 20 years from the date of application (14 years for design patents).
Each state has different rules that apply to a mortgage that has sat dormant on a property without any legal activity, or notification by its holder that a secured interest still exists. For example, in Ohio the statute of limitations is 21 years. This means that if a mortgage were recorded on a property, and then left alone, unless there was some action to contest it, or have it removed, it would automatically expire after 21 years.