General partnerships, and their “joint venture” cousins, are composed of partners seeking to make a profit in a business venture. But things don’t always work out. Often, a once promising endeavor breaks down due to mismanagement and miscommunication. In these situations, partners may feel the urge to get out with whatever equity they can....
Continue reading ›Just because a party prevails in a lawsuit does not mean the matter is over. Rarely discussed but crucially important is the fact that a judgment must be enforced once it is entered. This isn’t always easy. Losing parties don’t always want to cooperate, especially when they’re operating without an attorney. Sometimes, a party...
Continue reading ›A realtor should take the necessary legal steps to ensure that all real estate owners do so. When most people buy or sell property, they hire a real estate agent to assist with the process. While the concept of these agreements seems simple enough, these agreements can get complicated when the property in question...
Continue reading ›When co-owners of property decide they want to go their separate ways but cannot come to an agreement on a buyout or reimbursements, they can institute a partition action and have the court system solve the problem. While partition actions usually involve homes or commercial properties, they can also involve condominiums. Condos bring with...
Continue reading ›Yes. Co-owners of property are entitled to certain rights, namely, the right to possess and use the property as they see fit. But sometimes, things do not work out with the other owners. Heirs to an estate can bicker, business relationships can fall through, and family dynamics can fall apart. This may result in...
Continue reading ›Joint tenancy is a special type of co-ownership recognized in California. It is commonly associated with married couples, ensuring that when one of them dies, their entire interest in the property passes to the other spouse. This is called the right of survivorship, and it is the defining trait of a joint tenancy. The...
Continue reading ›If you co-own real estate with someone who won't agree to sell, a partition action may be your only path forward. California law gives every co-owner an absolute right to force a sale of jointly held property, and this guide walks through exactly how that process works. Quick Answer: What Is a Partition Action?...
Continue reading ›The deed to a property is the most important document a property owner has. It describes the title and its associated rights while operating as the grant of the property itself. But not all deeds are created equal. While grant deeds and quitclaim deeds are the most common tools for transferring title, they carry...
Continue reading ›Co-owning property as tenants in common is the favored form of joint ownership in California. (Wilson v. S.L. Rey, Inc. (1993) 17 Cal.App.4th 234, 242 (S.L. Rey).) Yet, property held in tenancy in common brings with it a unique set of potential issues that are not present in the other forms of joint ownership...
Continue reading ›Yes. While joint ventures are a distinct type of business entity, they share many similarities with general partnerships in California. In fact, “the resemblance between a partnership and joint venture is so close that the rights as between adventurers are governed by practically the same rules that govern partners.” (Milton Kauffman, Inc. v. Superior...
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