Q: My parents are near the end of their working careers, and we are exploring the possibility of my purchasing their home and then leasing it back to them until they are ready to move to a retirement home in a few years. We like this idea because my parents would get a lump sum from the sale now (an agent says the property is worth $240,000) and could rent from me for as long as they want. When they eventually move, I could then either live in the home myself or sell it. What do you think of this idea?

A: The type of arrangement that you and your parents are considering is called a “sale/leaseback.” It could certainly provide benefits to all three of you, provided that the transaction is structured properly.

Let’s say you agree to buy the home for its current market value of $240,000 (although your folks might be willing to settle for less because they won’t have to pay the usual 5 percent or 6 percent sales commission to an agent). You could make a down payment of 10 percent, or any other amount, and then get a bank loan to finance the rest of the purchase.

Your parents likely would get to keep all of their profit tax-free, provided that they have made the home their primary residence for at least two of the previous five years. They also would have the comfort of knowing that they could stay in the property for as long as they want by leasing it back from you, allowing them to take all the time they need to hunt for their final retirement home or even build one from scratch.

Meantime, you would collect monthly rental payments from your parents and would simultaneously become eligible for all the special tax breaks that only rental-property investors can claim. And when your parents eventually leave, you could move into the home yourself, rent it to new tenants, or sell it for a tidy profit if prices keep rising.

While a sale/leaseback can benefit everyone who is involved, it also can raise some complicated tax and legal issues. Make sure that both you and your parents talk with a knowledgeable attorney and tax expert before moving forward with your plans.

Q: I don’t use my credit cards often because their interest rates are so high, but I always use the debit card that is linked to my checking account. The card even has a Visa logo on it. How come this card does not appear on my credit report?

A: A debit card is really nothing more than a plastic check. Credit-reporting agencies don’t track activity in checking accounts because it has nothing to do with credit – the money in the account is already yours, so there’s no borrower-creditor relationship to help build a credit history by showing how well you handle your debt obligations.

Q: Can you recommend a good Internet site that provides tax information?

A: One of the best sites, www.irs.gov, is operated by the Internal Revenue Service itself. Virtually all of the agency’s hundreds of forms and booklets can be downloaded from the site for free.

Another site, www.hrblock.com, is run by tax- and financial-services giant H&R Block. It has a free database that answers hundreds of commonly asked questions, and an easy-to-use search function that makes finding needed information a snap.

Q: I live in an apartment. Someone broke in two weeks ago and stole about $7,000 worth of stuff, including all of my jewelry and computer-editing equipment. I don’t have renter’s insurance, but can I sue the landlord for my losses?

A: You could sue, but you probably wouldn’t win. Landlords are responsible for insuring their buildings against fire and most other hazards, but tenants are expected to cover the cost of insuring their own personal possessions against theft.

Your chances of successfully suing, however, would certainly improve if you could show that the landlord knew that your unit was particularly susceptible to a burglar but failed to do anything about it.

For example, if the thief entered through a broken window that you had repeatedly asked the landlord to fix, the judge might rule that the owner’s failure to make the repairs constitutes negligence and then order him to reimburse you for the stolen items. But if you cannot prove such negligence, your chances of winning the lawsuit are slim.

– David W. Myers is a 20-year veteran of the newspaper and magazine business, having previously covered real estate for the Los Angeles Times and Investor’s Business Daily.