Articles Posted in joint venture

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 tenancy,…

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 dream…

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 keeping…

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 mean…

“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 not…

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 to…

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 available…

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, we…

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 are…

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 where…