The California Multi-Party Account Law governs financial accounts with multiple endorsers and beneficiaries, such as joint accounts, pay on death accounts, and Totten trust accounts. The law ensures transparency and protection for account holders by outlining how these accounts are managed, how funds are distributed on death, and the rights…
Commercial real estate is property being operated to generate business revenue through rental income or capital gains. Because it is meant to generate revenue if it is residential property, it must be used as rental housing to still be considered commercial real estate. It is not personal property. Commercial real…
Yes. Judgments should properly name the fiduciary in their representative capacity when the fiduciary is involved in legal proceedings on behalf of a trust, estate, or other entity. Fiduciaries, such as trustees or executors hold a position of legal responsibility to manage and protect the interests of the beneficiaries or…
Dividing property following divorce or dissolution proceedings can be complicated under family law principles. If the property has appreciated in value, this can make dividing it more contentious and complicated. Under family law, a married couple’s earnings received during marriage are considered community property and are divided evenly at divorce.…
In determining the value of property, a property owner can seek out a broker’s opinion of value. A broker’s opinion of value, also caller a broker’s price opinion is an assessment of a property’s value. This assessment is done by a real estate broker, often for free to get the property…
In California, the typical trust administration takes between 12 to 18 months to complete. The process can take significantly less time, ranging between 4 to 5 months, when distribution terms are straightforward. Oppositely, the distribution time frame can also take longer than 18 months depending on factors, like outstanding debts…
California businesses are required to register with the Secretary of State to legally conduct business in the state. The specific requirements a business must meet when registering with the Secretary of State vary depending on the type of business, but all businesses, regardless of type are required to file a…
Discovery is an important tool for parties in a lawsuit to get information to prepare for trial and to decide what issues to focus on in a case. In California, the rules governing discovery are laid out in the Civil Discovery Act in Title 4 of the Code of Civil…
Probate sales are a unique real estate opportunity for buyers to purchase real property from the court after its owner died. Probate sales involve court confirmation hearings, during which an auction can result in an original purchase offer to be overbid by a new, higher, one. This auction is called…
In California, title is determinative in some instances. This means that a court’s characterization of property in a marital dissolution proceeding determines the division of the property between spouses. How a property is titled may also affect the property’s protection from creditors, taxes, and the probate process. Understanding how and…