Articles Posted in Tag: joint venture

What are the tax implications when one co-owner sells to another (Rev. & Tax. Code § 62)?
Underwood Law Firm, P.C.

There are two common ways an individual can own property: (1) as a tenant in common or (2) as a joint tenant. In California, there is a presumption that the co-owners of a piece of property are tenants in common unless the deed expressly states that the co-owners are joint tenants. In a joint...

Continue reading ›
#SCANDOVAL: Vanderpump Rules’ Star Tom Sandoval Refusing to Leave Home the Couple Shared… What Now?
Underwood Law Firm, P.C.

Following the explosive split between the two stars in the hit reality show, “Vanderpump Rules,” many are left wondering what will become of the couple’s $2.2 million dollar home. Prior to their split, Ariana Madix and Tom Sandoval bought a farmhouse-style home in 2019 and took their time to renovate the Property into their...

Continue reading ›
What is a Marvin Agreement (Marvin v. Marvin (1976) 18 Cal.3d 660)?
Underwood Law Firm, P.C.

A Marvin agreement is an implied or express contract made between two nonmarried cohabitants/partners regarding property rights during a romantic relationship. Generally, unmarried partners living together can enter a variety of contracts, including but not limited to pooling their earnings to share property equally, holding property as joint tenants or tenants in common, or...

Continue reading ›
What happens when a co-owner refuses to pay their share of the mortgage? ((Wallace v. Daley (1990) 220 Cal.App.3d 1028.)
Underwood Law Firm, P.C.

In California, cotenants are obligated to pay for their portion of common costs. A huge part of owning property jointly is “splitting the bill,” so to speak. From Property taxes to mortgage payments to utilities, the list goes on and on in terms of what all cotenants are responsible for. But that does not...

Continue reading ›
A Guide to California Joint Tenancy (Milian v. De Leon (1986) 181 Cal.App.3d 1185)
Underwood Law Firm, P.C.

“Joint tenancy” is a phrase that most people associate with the co-ownership of a property. And indeed, this is correct. Joint tenancy is a form of co-ownership in California, second only to tenancies-in-common in terms of popularity. But just because the words “joint tenancy” are used in a deed or other property-related document does...

Continue reading ›
What is a Joint Venture? (April Enterprises, Inc. v. KTTV (1983) 147 Cal.App.3d 805)
Underwood Law Firm, P.C.

In California, business enterprises can take many forms (LLCs, corporations, partnerships, etc.). But perhaps the most unique is the “joint venture,” a special entity that, more often than not, is imposed by courts as a matter of law. This is because a joint venture is simply an “undertaking by two or more persons jointly...

Continue reading ›
What Happens when a Partition By Appraisal Fails? (CCP § 873.910)
Underwood Law Firm, P.C.

Partitions by appraisal are a unique way to resolve a partition dispute. In essence, they are buyouts that the parties contractually agree to, allowing one party to remain on the jointly-owned property in exchange for purchasing the other co-owner’s interest at an appraised value. This seemingly middle-of-the-road option, however, is one of the options...

Continue reading ›
What are the historical origins of joint-tenancies and tenancies-in-common? (Blackstone, Commentaries on the Laws of England)
Underwood Law Firm, P.C.

American law has its roots in the laws of England. As such, many of the laws still on the books in the 21st Century depend on what English judges thought prior to our War for Independence began in 1776. Because our modern laws go back centuries since before the United States was a country,...

Continue reading ›
Can you partition a life estate? (CCP § 872.710)
Underwood Law Firm, P.C.

Yes. 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 for them. The presence of a life estate, however, substantially complicates this process. Additional evidentiary showings...

Continue reading ›
What is a Claim for Waste in California? (Civ. Code § 818)
Underwood Law Firm, P.C.

A “waste” claim is a means of recovering damages when a tenant on real property does substantial damage to the property itself. Most often, a waste claim arises when a person renting property causes damage while living there. But a waste claim isn’t restricted to landlords and tenants. It applies to nearly all situations...

Continue reading ›
What is a “rightful” dissociation from a Partnership? (Corp. Code 16601)
Underwood Law Firm, P.C.

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 ›
What is an Elisor? (Corp. Code § 128(4))
Underwood Law Firm, P.C.

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 ›
Do All Owners Need to Sign a Real Estate Listing Agreement? (Corp. Code § 1624(a)(4))
Underwood Law Firm, P.C.

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 ›
How do you sever a joint tenancy in California? (Code of Civil Procedure section 683.2)
Underwood Law Firm, P.C.

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 ›
Does RUPA apply to joint ventures? (Corp. Code § 16101)
Underwood Law Firm, P.C.

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...

Continue reading ›
The Problem with Partnerships
Underwood Law Firm, P.C.

At some point or another, it becomes necessary to have “the talk” and “define the relationship” within a business. While the thought of defining business roles may make some people nervous, not having a conversation is a source of even greater anxiety when the relationship involves an investment, business venture, or development project. The...

Continue reading ›

Search

Client Reviews

  • We were in need of a real estate attorney. Eli Underwood provided excellent legal advice and services. He explained everything well and followed through with all important issues that needed attention. We found him to be reliable, courteous, patient and extremely professional. We highly recommend...

    I.S.

  • I own a real estate investment company that operates across multiple states (California, Washington, Oregon, Montana, and more), whenever I run into an issue that needs legal attention, Eli is my first call. I've been working with him for years. He is an amazing attorney and I highly recommend him."...

    T.W.

  • Mr. Underwood is a fantastic Lawyer with extraordinary ethics. He responds quickly, which is rare these days, and he is very knowledgeable in his craft. It was a pleasure working with him and we will definitely use his services in the future if needed. Thank you for your help Sir!

    M.O.

  • Eli took our case and controlled every hurdle put before us. I one time commented to him that he must love his job because it seemed that he was always available. When talking about my case to anyone I always bring up where, I believe, the other parties Lawyer tried to take advantage of my wife and...

    E.T

  • We were in need of an attorney with considerable knowledge of real estate law and the legal issues related to property ownership. Eli Underwood went above and beyond our expectations. In keeping us abreast of our suit, his communication skills were outstanding. This talent was especially...

    P.B.

  • In our need for legal services we found Eli to be well informed and on top of our case and our needs. Our's was not an ordinary case as it was a case with many facets. It was a very convoluted case. There were multiple owners involved in a property dispute where one of the owners sued the rest of...

    M.A.

View MoreSubmit a Law Firm Client Review