property owner Archives

What is the difference between a grant deed and a gift deed? (Civ. Code § 1113)

Published on: September 7, 2022 | By Underwood Law Firm, P.C.

Underwood-Blog-Images-1-300x300 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 conveyance of property itself. But not all deeds are the same.

While grant deeds and gift deeds are incredibly similar, their differences can inevitably lead to legal disputes. The added family dynamics that typically accompany gift deeds can make things even murkier. In these situations, having an experienced real estate attorney at your side can make all the difference. The Underwood Law Firm encounters both types of deeds with frequency and has the familiarity and skill to help title holders understand their rights.

What is a deed?

Continue reading →

Title Insurance and Title Guarantees: What’s the Difference? (Ins. Code § 12340.1)

Published on: August 31, 2022 | By Underwood Law Firm, P.C.

Underwood-Blog-Images-2-2-300x300 “Title” is the single most important word when it comes to purchasing a property. If there is a problem with it, then an entire real estate transaction can be disrupted or canceled outright. Many people consider the purchasing of a home to be the single most important transaction of their lives. Therefore, it only makes sense that there would be options to assuage the worried buyer.

These options come in the form of insurance and guarantees. But while they may serve the same set of individuals, they could not be more different. The Underwood Law Firm, P.C. is familiar with how to navigate property transactions and understands the importance of knowing these differences for those looking to buy property, especially in California.

What is Title Insurance?

Continue reading →

What is a “rightful” dissociation from a Partnership? (Corp. Code 16601)

Published on: August 26, 2022 | By Underwood Law Firm, P.C.

Underwood-Blog-Images-5-300x300 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. Usually, it isn’t that easy.

The Revised Uniform Partnership Act allows partners to dissociate from their partnerships whenever they want. Yet this withdrawal can sometimes cause serious damage, especially when the partner trying to leave was a major source of capital. For that reason, the California Corporations Code provides for penalties when the dissociation is “wrongful.” In the end, getting out of a partnership isn’t so much about doing it the “right” way as it is about avoiding the “wrong” way to dissociate.

What is dissociation?

Continue reading →

What is an Elisor? (Corp. Code § 128(4))

Published on: August 24, 2022 | By Underwood Law Firm, P.C.

Underwood-Blog-Images-1-2-300x300 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 might “disappear,” ignoring all communications from the other side and the court. Other times, they might simply refuse to sign documents as ordered, convinced the court got it wrong. These actions can cost victorious parties thousands of extra dollars of their time and money. Thankfully, in these situations, litigants have a unique remedy to combat this behavior: an elisor.

An elisor is a person appointed by the court to perform functions like the execution of a deed or document. (Blueberry Properties, LLC v. Chow (2014) 230 Cal.App.4th 1017, 1020.) They are most commonly utilized in cases where a party never shows up or where a party refuses, even under court order, to sign documents as required by the court.

Continue reading →

Do All Owners Need to Sign a Real Estate Listing Agreement? (Corp. Code § 1624(a)(4))

Published on: August 19, 2022 | By Underwood Law Firm, P.C.

Underwood-Blog-Images-2-1-300x300 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 is owned by more than one person. The Underwood Law Firm is familiar with these disputes and is in the ideal position to assist your dealings with real estate brokers.

What is Needed for a Real Estate Listing Agreement to be Valid?

California law provides that an agreement authorizing an agent, broker, or any other person to purchase or sell real estate is “invalid, unless [the agreement], or some note or memorandum thereof, are in writing and subscribed by the party to be charged or the party’s agent.” (Civ. Code § 1624(a)(4).)

Continue reading →

How do you partition a condominium? (CCP § 872.820)

Published on: August 17, 2022 | By Underwood Law Firm, P.C.

Underwood-Blog-Images-4-300x300 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 them some additional complexities because condo owners generally own an interest in their individual units and the common areas of the condominium complex.

This dual ownership can pose problems because there are restrictions in place about what can and can’t be partitioned when condominiums are involved. Thankfully, the Underwood Law Firm is more than familiar with partitions of all types of property and is here to assist property owners throughout the process.

Continue reading →

Can an ousted cotenant recover possession of the property? (Civ. Code § 843)

Published on: August 12, 2022 | By Underwood Law Firm, P.C.

Underwood-Blog-Images-2-300x300 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 the rightful owner of the property being ousted by the other(s). In these situations, finding the right real estate lawyer to assist in the process of recovering possession is crucial. The Underwood Law Firm, P.C. is familiar with these sensitive matters and has the legal acumen to help you recover possession of your property.

Do cotenants each have a right to occupy their property?

Continue reading →

What is a Partition Action? (Code of Civil Procedure § 872.210)

Published on: August 8, 2022 | By Underwood Law Firm, P.C.

What is a Partition Action?

A partition action is a court-ordered process where a property owner forces a sale of jointly owned real estate. Essentially, a partition action exists to allow people who own real estate together to take their share of the equity and go their separate ways. But, as simple as this seems, partition actions can often become complex lawsuits. Disputes commonly arise as to what type of partition may be sought and the process for determining ownership interests.

For example, “Julie” bought a house with her boyfriend, “Shawn,” thinking that they would get married one day. Later, after they had bought the house, Julie realized that her boyfriend was not the right person for her. Because Julie wanted to move on in her life, she also wanted to sell the house she bought with her boyfriend. Her boyfriend, however, was mad at Julie for breaking up with him and so refused to agree to sell the house. Because they were not married, Julie could not go to a divorce lawyer, and because they both did not agree to sell, a realtor could not help Julie. Julie felt trapped. Julie then, however, found a partition lawyer and was able to get the house sold so she could move on with her life. A partition lawyer got the job done.

Continue reading →

A Guide to Tenants-in-Common in California (Civ. Code § 682)

Published on: July 29, 2022 | By Underwood Law Firm, P.C.

underwood-guide-to-tenants-in-common-300x300 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 recognized by the state. (see California Civil Code, § 682.)

Different ownership interest percentages between co-owners can affect one’s responsibilities for common expenses and levels of disbursement on a sale. A fiduciary relationship between joint owners can disrupt a co-owner’s ability to acquire an encumbrance. Payments for improvements to the property may not be recoverable in an accounting action if deemed “unnecessary.” These are just some of the issues we will attempt to address in this post about the financials of tenancies in common.

Developing Co-Owned Property

Continue reading →

Is a litigation guarantee required in a Partition Action?

Published on: July 22, 2022 | By Underwood Law Firm, P.C.

Underwood-Blog-Images-2-1-300x300 While litigation guarantees are recommended in a lot of contested real estate issues in court, it is not required in a partition action. Read on to find out more about the nuances of litigation guarantees and their relationship with partition actions.

What is a partition action?

A partition action or a partition lawsuit is when one co-owner, or when one person with interest in the property wants to sell the property, but the other co-owners or others with interest in the property do not want to sell their ownership rights.

Continue reading →