California Partition Law Blog
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 vacation rentals in these areas diluted the marketplace and made it increasingly more difficult to turn a profit from these investments, and in some cases, have lead to investment losses.
As many people who previously saw the advantages of these investments have recently seen problems the problems with these properties, they have been looking for legal methods to leave these relationships and receive the return of their capital. Frequently, many people find that getting out of these investments is a lot harder than getting in, if they can even find a legal way out. Many cannot. The attorneys at the Underwood Law Firm, however, are well-versed in the legal tools for helping good people get out of these bad real estate relationships.
What are the options for leaving a bad real estate relationship?
Generally, an owner can never legally “abandon” title to property. (Gerhard v. Stephens (1968) 442 P.2d 692, 713.) Instead, abandonment can only be found in situations dealing with personal property. Yet when the property interests in real property are in the nature of incorporeal hereditaments, the California Supreme Court has found that those interests can be abandoned.
Generally, when obtaining representation for yourself and your property interests, you must make sure that your interests are indeed being protected and your wishes respected as much as legally possible. The moment it becomes clear that your attorney is not acting accordingly, it may be time to change your lawyer.