State laws, in conjunction with federal laws and statutes, steer the manner in which we handle business matters, navigate complex tax issues, negotiate real estate transactions, deal with disputes, and plan for the future. A person’s understanding of these issues directly affects his or her success with them.
We are pleased to present a selection of attorney-authored articles focusing on laws in light of how they relate to us in very real – and sometimes sticky – situations. Many risks and pitfalls, as well as opportunities and solutions, become clear when viewed in light of these laws.
Real Estate Articles
California Assembly Bill 2093 Impact on all New California Commercial Leases
We hope you had a wonderful holiday season and a happy New Year. As we begin 2017, we wanted to bring to your attention California Assembly Bill 2093 (the “Bill”) which impacts all new California commercial leases beginning on or after January 1, 2017. Whether a lease is a commercial lease can require a detailed analysis, but if the lease relates to property used as a residential/personal dwelling unit, it is likely not a commercial lease. If you need assistance in determining whether your lease qualifies as a commercial lease, please do not hesitate to contact us.
Additional Short Sale Protection
On July 15, 2011, California Governor Jerry Brown signed into law SB 458, an amendment to California Code of Civil Procedure Section 580e. The original Section 580e provided that once the holder of a First Deed of Trust or mortgage on a dwelling of 1 to 4 units gave its approval to a short sale, receipt of the sale proceeds by that lien holder constituted payment of the debt, and no deficiency could be sought. However, the law applied to holders of First deeds of trust or mortgages only.
Breach of Contract – You Have Been Accused!
How can you protect your assets? What if you are innocent? This is a situation when the facts (and how you communicate them) make all the difference according to real estate law.
The Due Diligence Process Preparation in Commercial Real Estate Transactions
In every transference of real estate, the purchaser or renter must conduct some level of due diligence toward investigating the qualities of the property. Our practical guidelines will get you well on the way to ensuring the purchase of a sound investment.
A Due Diligence Checklist for Commercial Real Estate Transactions
When applied with the above Due Diligence Process Preparation article, this checklist provides a functional outline of the information, reports, and research one should obtain and conduct during a due diligence investigation.
The Foreclosure Process – How Does A California Foreclosure Work?
Foreclosure is the legal way a lender sells or repossesses property when a homeowner fails to make their mortgage payments. We have prepared a concise overview of the California foreclosure process, explaining the events leading up to, during and after foreclosure.
What Happens During a Foreclosure?
Once a homeowner is in default on their loan, the timeline starts ticking and the events of the foreclosure begin. There are options available to cure the default, and consequences including public auction when the default is not cured.
What Is a Tax-Deferred 1031 Exchange?
In a typical transaction, a property owner is taxed on any gain acquired from the sale of their property. However, in an IRS Section 1031 tax-deferred exchange, the tax on the gain is deferred until a future date.
The implied covenant of good faith and fair dealing is a covenant made by each party to the contract not to do anything that will deprive the other parties to the contract of the benefits of that contract.
Estate Tax, Asset Protection & Administration Articles
The Probate Process
When is probate required? With or without a will, there is a probate. The process of administering a decedent’s estate will vary depending upon the factual scenarios involved; this article covers the basics for a straightforward probate proceeding.
Hopefully this article will give you some valuable considerations in forming your entity. It is important to remember that your entity is unique and so your decisions regarding its formation and planning for operation must be very carefully considered.
Armor Plating Your Business
Is your business structured in a way as to minimize liability? If an attack comes from within or from the outside, is your business as strong as a tank or another rendition of the Titanic? Asset protection and risk management takes many forms, and a good starting place is frequently the legal structure of the business and its constituent components..