Articles Tagged with property owner

5242023-300x300There 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, there is a right of survivorship, meaning that when one joint tenant dies, the surviving joint tenant inherits the other joint tenant’s interest in the property. There is no right of survivorship in a tenancy in common. In certain circumstances, different rules or laws apply when a property is held in a joint tenancy versus a tenancy in common. For example, there are certain laws for property taxes that apply for a tenancy in common that is different from a joint tenancy. 

At the Underwood Law Firm, our attorneys are more than familiar with property taxes and the requirements that follow. This area of law can be complex and entangled in technicalities. Our attorneys are here to walk you through the law step-by-step so that you are not lost in the maze of rules and regulations and to get the best possible results from transferring your property ownership. 

5192023-300x300In every property co-owned by two or more persons, there are common costs. Common costs are those costs for the property that are common to all owners or for the common benefit of all owners. In California, cotenants are required to pay for their portion of the common costs. Therefore, cotenants must pay for their share of expenses to operate and maintain the property. The portion of common costs one must pay depends on the ownership interest of that cotenant. 

At the Underwood Law Firm, our attorneys are more than familiar with co-ownership and the requirements that follow. 

What are Common Expenses?

5172023-300x300Lawsuits that affect interests in real property, such as partition actions, often require courts to adjudicate competing claims regarding who should have title to or possession of real property. In general, courts adjudicating such disputes follow the principle of “first in time, first in right.” Under this principle, “a conveyance recorded first generally has priority over any later-recorded conveyance.” (First Bank v. East West Bank (2011) 199 Cal.App.4th 1309, 1313.) 

An important factor that courts consider when adjudicating cases affecting interests in property is whether each party affected by the court’s judgment had notice of the litigation or judgment. A judgment affecting title to or possession of real property that is recorded imparts “constructive” notice to a subsequent transferee or encumbrancer. When recorded, such judgment is effective against any subsequent conveyance or encumbrance, regardless of whether the parties to that judgment receive notice about the subsequent conveyance or encumbrance. (Civ. Code, § 1214.) 

In contrast, a judgment that is not recorded with the recorder’s office of the county in which a property is located does not impart constructive notice to subsequent transferees or encumbrancers of the property. Any such judgment generally is not binding on a subsequent transferee or encumbrancer who acquires and records an interest in the property without notice of the prior litigation or judgment. (Civ. Code, § 1214.) 

5122023-300x300“A trust is any arrangement which exists whereby property is transferred with an intention that it be held and administered by the transferee for the benefit of another.” (Higgins v. Higgins (2017) 11 Cal.App.5th 648, 662.) Essentially, a trust is a legal relationship that allows a person to hold property for the benefit of another person. 

In a trust relationship, there are typically three main people involved: (1) the settlor; (2) the trustee; and (3) the beneficiary. The settlor is the person that creates the trust and transfers the property he/she owns in the trust to be held by the trustee. The trustee is the person that administers the trust. The trustee holds legal title to the property transferred into the trust by the settlor and acts as a fiduciary to the beneficiary to protect the assets in the trust. The beneficiary holds equitable title to the trust property and is the person that benefits from the property in the trust. In some cases, the settlor and the trustee are the same person. 

In sum, a trust is a fiduciary relationship where property is transferred by one person to another on behalf of a third party. At the Underwood Law Firm, our attorneys are more than familiar with trusts and the requirements that follow. 

5102023-300x300Generally, a co-owner of real property may commence an action in a partition. Owners of an estate of inheritance, a life estate, or an estate for years who hold such interest concurrently or in successive estates may seek to partition the property. (CCP § 872.201(a)(2).) Those with concurrent interest in the property may partition the property as of right unless barred by a valid waiver. (CCP § 872.710(b).) As such, a co-owner of the property has an absolute right to partition, absent a valid waiver. (Orien v. Lutz (2017) 16 Cal.App.5th 957.) 

What are the Different Types of Co-Owner Relationships? 

Partition actions most often result from joint ownership problems falling into four broad categories: (1) Father/Mother-Son/Daughter tenants in common in real estate; (2) Brother-Sister shared tenants in common in real estate; (3) Investor-Investor shared tenants in common in real estate, and (4) Non-Married Partners shared tenants in common in real estate. 

552023-300x300When a person passes away and leaves behind the property, their property must first pass through the probate process before being passed down to family members and loved ones. Essentially, the probate process is a legal process that determines the execution of the estate of someone who has passed away. Moreover, during the probate process, the court appoints an executor or an administrator to administer the deceased’s estate. Therefore, probate property refers to any assets or property left behind by a deceased person that passes through the probate process.    

It is possible to sell or buy probate property while it is still in the probate process. However, the sale of probate property is different from a standard sale of real property, and there are court and statutory procedures that need to be taken into consideration.  At the Underwood Law Firm, our attorneys are more than familiar with the sale of probate property and the requirements that follow. 

The Probate Process

532023-300x300For family members of a deceased loved one, the most important part of probate proceedings is the final distribution of the estate. This occurs once the estate’s debts and obligations have been satisfied, and it serves to more or less end the probate of the estate. 

But what if someone thinks they’re entitled to a share of the estate but was left out of the proceedings from the outset? This is where the petition to determine distribution rights comes into play. It’s a legal mechanism whereby omitted heirs or interested parties ask to court to be included in the final distribution. 

What is a Distribution in Probate? 

4282023-300x300Partitions are lawsuits that split up the property between multiple co-owners so that each can take their equity out of the home. The prototypical partition is that between unmarried partners or business partners. Both own equal shares, but only one wants to end the relationship and take their money out. Partitions enable this to happen, usually ending with a court-ordered sale of the subject property.  

The presence of a trust changes this calculus. This is because a trustee typically holds the property for the benefit of another. (Estate of Yool (2007) 151 Cal.App.4th 867, 874.) As such, pursuing a partition becomes much more difficult to do, especially because partitions cannot be used to disrupt the purpose and provisions of an express irrevocable trust.

At the Underwood Law Firm, our attorneys are well-versed in these matters and familiar with the intricacies of the interactions between property law and probate procedures. The following are steps that every litigant should keep in mind before pursuing the partition of a property subject to a trust. 

4262023-300x300A deed is a legal instrument, evidenced in writing, to confirm the ownership interest or legal rights of an owner of real property. Essentially, a deed is necessary to determine the titleholder of a piece of real estate. Moreover, a deed grants an owner of real property legal rights to convey, sell, or transfer the property. Therefore, when purchasing a piece of real property, it is extremely important for a person to obtain a deed in order to evidence their ownership in writing and protect their legal rights in the property.    

However, a deed is not just a simple piece of paper establishing a person’s ownership interest in the property. There are several elements that are required in order for a deed to be valid.  At the Underwood Law Firm, our attorneys are more than familiar with the elements of a deed and its effect on real property. 

Elements of a Valid Deed

4192023-1-300x300Following 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 home. 

Unfortunately, due to Sandoval’s alleged affair in March 2023, the couple split but are still living under the same roof, with Sandoval apparently refusing to leave and stating that Madix was free to leave if she had a problem with him staying. 

What happens when one party wants to leave, and the other party wants to stay on their shared property? In these situations, an owner of commonly owned property like Madix may feel like they are being held hostage by a former partner and co-owner. Under these circumstances, a partition action may be the best option for a fresh start.   

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