Articles Tagged with property owner

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.   

4142023-300x300A property’s legal description is an essential element of any property transfer, and it serves as the basis for most property-based lawsuits. Quiet title summons, partition complaints, and lis pendens notices must all contain legal descriptions, just to name a few. 

Funnily enough, however, despite the legal description importance, there is no standard form in use. It can be a property’s address (if it has one), a metes and bounds description, or (commonly), it can reference a county’s official map. 

But what is not sufficient, at least by itself, is a property’s assessor parcel number (APN). This is because an APN is a number assigned to a parcel map to designate property or groups of properties as being subject to certain taxes. The county assessor isn’t concerned with assigning numbers to correctly measure the physical size of the lot. Instead, an assessor may combine properties or cut them in half for taxation purposes. 

4122023-300x300An estate is categorized by the duration of time one holds an interest in the estate. For example, an estate acquired through inheritance is categorized differently from an estate for years. There are three different ways an estate can be categorized, which is codified in California Civil Code section 765. Essentially, section 765 categorizes an estate based on the character of the property. 

Under section 765, there are freehold estates, chattels real, and chattel interests. Depending on the character of the estate, a person holds different rights in the subject property. At the Underwood Law Firm, our attorneys are more than familiar with freehold estates, chattel real, and chattel interests. 

What is a Freehold Estate? 

472023-1-300x300An action to quiet title allows a litigant to clear title or have the court establish title to a piece of real property where the title to that property is in the issue. Moreover, a quiet title action is not solely for the purpose of establishing a legal interest in real property but can also be asserted to establish an equitable interest in real property. For example, when two people claim that they own an entire piece of property, one of those parties may file a quiet title action to determine which one of the two persons actually holds title to the property. 

Sometimes, however, the other party will refuse to participate in the lawsuit, which requires a party to win by “default.” In those circumstances, a question arises about what is necessary to do to succeed. The law explicitly addresses these circumstances. 

Specifically, Code of Civil Procedure section 764.010 provides: “The court shall examine into and determine the plaintiff’s title against the claims of all the defendants. The court shall not enter judgment by default but shall, in all cases, require evidence of the plaintiff’s title and hear such evidence as may be offered to respect the claims of any of the defendants, other than claims the validity of which is admitted by the plaintiff in the complaint. The court shall render judgment in accordance with the evidence and the law.” 

452023-300x300Yes, although the tenant is not allowed to exclude the non-consenting owners. The reason for this is grounded in ancient legal doctrine regarding the “right to possession” that all co-owners of property share together. Each owner may exercise this right, and each may grant it to a third party, should they so choose, even without the consent of the other owners. 

While this may be legally allowed, however, it rarely results in anything other than trouble and lawsuits. In these situations, getting the right real estate attorney by your side can make all the difference. At the Underwood Law Firm, our attorneys are well-versed in the law surrounding co-ownership and the rights and duties accompanying it. Here, we’re with you every step of the way.  

How does the law view leasing jointly-owned property? 

3292023-300x300While it may not be obvious, a sizeable portion of the work that real estate agents and realtors do is court-ordered. Real estate law is a massive field, and often, the disposition of litigation results in the court forcing the sale of a property, be it a business, home, condominium, etc. As such, many realtors find themselves acting as agents or referees for parties to a lawsuit. 

This situation finds its most common form in the partition. The partition is a special type of lawsuit wherein parties take their equity out of a property by putting it up for sale. However, should a real estate agent accept this task, there are a number of considerations they need to take in mind. The Underwood Law Firm handles partitions every day. As such, we’ve come up with 10 helpful items that every realtor should keep in mind if they’re tasked with partitioning a property. 

Number 1: What is Partition and How Does a Sale Begin? 

3242023-300x300Real estate contracts are an expansive field of both law and life. Sales, leases, options, and certainly wills can all fall under this broad category. Normally, once a contract is signed, parties can go to court to enforce them by filing a lawsuit. But if one of the parties has passed away, the transaction becomes more complicated. 

Thankfully, the California legislature created Probate Code section 850 to remedy some of the problems inherent to these situations. No longer do separate lawsuits need to be filed. Instead, interested parties can file a special petition to get the probate court to enforce a contract concerning the subject property. For instance, a son could petition to enforce a contract with his decedent’s mother where she had promised to transfer him the house upon death. 

That said, the law surrounding these petitions is still dense and unwieldy for inexperienced litigants. As such, securing the right attorney in these situations can make all the difference. At the Underwood Law Firm, our attorneys are well-versed in these matters and are ready to assist. Potential litigants should not hesitate to contact our office so that we can begin making your goals a reality. 

3222023-300x300In California, a real estate investment trust is “any unincorporated association or trust formed to engage in business and managed by, or under the direction of, one or more trustees for the benefit of the holders or owners of transferable shares of beneficial interest in the trust estate and (1) that formed for the purpose of engaging in business as a real estate investment trust under the Federal Internal Revenue Code, (2) the sale of the shares of which has been qualified at any time by the Commissioner of Business Oversight pursuant to the Corporate Securities Law of 1968, and (3) that in good faith has commenced business as a real estate investment trust.” (Cal. Corp. Code § 23000(a)-(b).) 

The Real Estate Investment Trust originated in 1960 with the Real Estate Investment Trust Act. Generally, the real estate investment trust allows individual investors to invest in large-scale commercial real estate projects. However, there are certain requirements that the law imposes for a real estate investment trust to be valid. 

There are four different categories of requirements for a real estate investment trust imposed by the law; (1) organizational requirements; (2) asset requirements; (3) income requirements; and (4) distribution requirements.  At the Underwood Law Firm, our attorneys are more than familiar with real estate investment trusts and the requirements that need to be fulfilled to have a real estate investment trust. 

3152023-300x300When a loved one passes away, probate proceedings are hopefully not the first thing on their relatives’ minds. Probate is, however, an inevitability, even when a trust is present and effective. But inheritance is not always the blessing that the public conscious imagines it to be. The simple truth is that owning property in California is an expensive endeavor that carries with it tons of monetary responsibility. Faced with the possibility of inheriting something an individual simply cannot afford, there is an option: a disclaimer of interest. 

A disclaimer of interest is, essentially, a written statement to the probate court where someone who stands to inherit property or assets states that they do not wish to exercise that inheritance. They “disclaim” any right to receive the interest that they otherwise would. 

Specifically, Probate Code section 275 provides: “A beneficiary may disclaim any interest, in whole or in part, by filing a disclaimer of as provided in this part.” 

Contact Information