No, not unless they want to convert their own, singular interest into two or more shares. The reason for this is that grantors in a deed can only convey what they already own. If two tenant in common co-owners want to make themselves joint tenants, then they can collectively convey their interests to themselves in…
Continue reading ›In California, an unrecorded interest is valid between the parties thereto and those who have notice thereof. (Civ. Code § 1217.) Just because a deed is unrecorded doesn’t mean it isn’t valid. If executed correctly, it is a valid transfer of real estate. But that doesn’t mean an unrecorded deed is a good idea. In…
Continue reading ›A right of first refusal is, essentially, an option contract. It is a contract or a condition in a contract between the owner of an asset, and some other person with an interest in that same asset, that allows the interested person to buy the asset from the owner instead of allowing the owner to…
Continue reading ›Under California’s Civil Code, real property refers to land, and things affixed to land such as houses. (Civ. Code § 658.) When people think of “property” they may envision a large lake house or a humble home. But this is only one type of property – real property. Personal property, on the other hand, is…
Continue reading ›Proposition 19 is a new law in California that significantly affects the way property taxes are assessed on homes when deeded to heirs. While intra-family transfers were previously protected under Proposition 13, its effect has been significantly bludgeoned. On the other hand, Proposition 19 does include the added benefit of extra assessment transfers for residents…
Continue reading ›Civil Code section 2924 states that “every transfer of an interest in property, other than in trust, made only as a security for the performance of another act, is to be deemed a mortgage.” The “other than in trust” portion of the statute refers only to express trusts, however, because “under a deed of trust…
Continue reading ›An order determining succession to real property is an alternative petition to get a court order transferring the property. (Prob. Code § 13154.) If the estate is small enough, and a successor to the decedent has proof that they are entitled to a certain piece of property, then they may use this process to become…
Continue reading ›A lis pendens is a notice that a lawsuit has been filed against real property which could affect that property’s title. The lis pendens notifies any potential buyer that there is a lawsuit involving a real property claim. This is important because a potential buyer with knowledge of the lis pendens will be bound by…
Continue reading ›The Legislature has not established a specific statute of limitations for actions to quiet title. (Salazar v. Thomas (2015) 236 Cal.App.4th 467, 476.) Instead, the statute of limitations is based on the underlying theory of relief for the action. (Id.) For example, if the underlying theory is relief for trespass or injury to real property,…
Continue reading ›In recent years, the growth of vacation rentals have driven the rise of purchasing investment properties in highly desirable areas throughout the country. For years, investment rentals were so profitable that many people jumped into the market and purchased properties to get a piece of the action. Unfortunately, in recent years, the sheer number of…
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