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.
What is an Ouster (Civ. Code § 843)?
The California Partition Law begins at Code of Civil Procedure section 872.010 and ends at Code of Civil Procedure section 874.323. Section 872.250 outlines the procedure for a plaintiff seeking a partition of real property to record a lis pendens with the county office. A lis pendens gives notice to any future persons who may acquire an interest in the property that there is a pending lawsuit on the real property which could affect the real property’s title. This statute is important because a lis pendens could have consequences in future transactions involving the affected real property.
If you’re venturing into a real estate transaction and are daunted by the contracts, you’re certainly not alone. The jargon and intricate legal parlance can often make these contracts seem more complex than they actually are. Yet, the good news is that, armed with some guidance and understanding, these contracts become much less intimidating. Our friends at 
Frequently, when homeowners are dealing with financial difficulties, equity purchasers may induce homeowners to sell their homes for a fraction of the price. An “equity purchaser” is anyone who acquires title to any residence in foreclosure, with some exceptions. (Cal. Civ. Code § 1695.1(a)). The California legislature believed that homeowners were losing their homes to foreclosure due to “fraud, deception, and unfair dealing by home equity purchasers.” (Cal. Civ. Code § 1695). To combat these instances of deceit, the Legislature implemented the Home Equity Sales Contract Act, found in Title 5 of the California Code of Civil Procedure, Chapter 2.5, sections 1695.1-1695.16.
The California Partition Law begins at Code of Civil Procedure section 872.010 and ends at Code of Civil Procedure section 874.323. Section 872.220 requires that the plaintiff state the existence and location of a title report if they have procured one. A title report includes a preliminary report, guarantee, binder, or policy of title insurance. (CCP § 872.010 subd. (e).)
Generally, the seller of a home has disclosures that they are required by law to make to any prospective buyer. This also applies to the realtor, broker, or any other agent working for the seller to sell the home. Different types of sales, however, may have varying disclosure requirements. Generally speaking, trustee’s sales, probate sales, and foreclosures sales are exempt from the California statutory disclosure requirements. All sales, however, are subject to the disclosure requirements under California common law.