Taking out a loan on property can leave you exposed to liability. However, certain laws offer protection in various circumstances. Usually taking out a loan is done for the purposes of a mortgage which is recorded in a document called a deed of trust. Like with all loans, failure to make regular payments results...
Continue reading ›When someone suffers an injury because of another person’s wrongful conduct, the law allows the injured person to seek compensation through “damages.” “Damages” are the monetary compensation awarded to the injured person to make the injured person whole again. California law recognizes various types of damages, including general damages and special damages. Understanding what...
Continue reading ›Yes, someone with a valid power of attorney can bring a lawsuit on behalf of the person who granted them authority, if the power of attorney vests them with legal authority to do so. Generally, a power of attorney can authorize actions like property management, conducting financial transactions, or pursuing litigation. However, whether an...
Continue reading ›There are many different ways you can “win” a partition action, and it all depends on what “winning” looks like to you. Because Partition is an action rooted in equity or fairness you may desire a different outcome than someone else with a similar case. As such, it is important to know what your...
Continue reading ›A referee plays an important role in the partition process when a property is being sold. As a referee, they are meant to be neutral. Usually, a referee will conduct a sale and then provide the court with a report on the sale. They can provide an accounting in their report but must exercise...
Continue reading ›When co-ownership disputes arise, parties often prefer to resolve the dispute outside of the courtroom, if possible, through buyout or other settlement agreements. In California, co-owners may modify their rights through written agreements, including their right to partition. Thus, co-ownership disputes are often resolved through buyout or settlement agreements The Right to Partition Co-owners...
Continue reading ›Yes. In certain cases, a party can end up owing money after a partition. Partition actions involve the division of property among co-owners, which can give rise to numerous financial costs of partition and may reveal a financial imbalance between co-owners. Understanding what your financial obligations are in co-ownership will help you better manage...
Continue reading ›A joint mortgage is a mortgage taken out by multiple people. Usually, a mortgage is secured on a property by the people who own it. However, with a joint mortgage that does not necessarily have to be the case. A joint mortgage may be held by someone who is not on the title for...
Continue reading ›Knowing what hidden costs might come up when selling property is important. California applies a transfer tax when property is sold for over one hundred dollars. However, this tax does not apply in all situations. Knowing when it does not apply can help you save on closing costs. What is a transfer tax? Under...
Continue reading ›Yes. Executors can withhold money from a beneficiary in certain circumstances, if withholding complies with applicable legal standards and fiduciary duties. Because executors are fiduciaries, executors must always act in the best interests of the estate and its beneficiaries and are bound by probate court orders and applicable laws governing estate administration. Failing to...
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