Archive for the ‘Business Real Estate’ Category
Friday, May 14th, 2010
Any buyer or seller of San Diego real estate should look into what a real estate attorney can do to protect you when you decide to buy or sell your home or other property.
Unlike your real estate agent—whose goal is to complete the sale and earn a commission—your real estate lawyer doesn’t work on a commission. What’s more, sometimes a real estate agent represents both the seller and buyer. In these situations, there’s bound to be conflict in representing both sides. After all, sellers want to get the highest price possible, the buyer the lowest, and the real estate agent’s commission is usually greater if the sale price is higher. (more…)
Posted in Business Real Estate, Buying a Home, Buying a Property, Deed Problems, Real Estate, Selling a Property, Views, Zoning
Friday, April 23rd, 2010
If you’re a real estate investor here in San Diego, how much do you know about Limited Liability Companies and corporations? For those who own or will be buying investment properties (e.g. residential or commercial rental properties), you may want to create a California Liability Company (LLC) or corporation. These business structures can be used to hold ownership of your real estate, instead of having title to the property in your own name.
What happens if you keep property titled under your personal name?
If you’re sued and lose the case, then your personal bank accounts and other assets can be used to pay off a judgment. But if you create an LLC or corporation, then typically only the property in the name of the company will be subject to these debts. (more…)
Posted in Business Disputes & Lawsuits, Business Real Estate, Home Ownership, Real Estate
Thursday, January 7th, 2010
The government doesn’t always need a for-sale sign to be posted in front of your San Diego property. Not only that, you may have to give up your property despite the fact that you’ve outright rejected the government’s unsolicited offers to buy your home or other property. Why? Because our property rights are limited by the federal, state, and local government’s sovereign right to take property through “eminent domain” (also known as condemnation). The power of eminent domain comes from the government’s right under the 5th Amendment to the U.S. Constitution and under our California Constitution to take private property for a “public use” in exchange for “just compensation,” e.g. the fair market value of the property. Both willing and unwilling sellers who find themselves in this situation have to act quickly to challenge the government’s actions or unfair offers of compensation. This often starts by recognizing that there are limits to the government’s right to condemn property through eminent domain, and you have your own property rights that you must be ready to immediately act upon. (more…)
Posted in Business Real Estate, Current Events, Home Ownership, Real Estate
Wednesday, December 9th, 2009
“Let the buyer beware” – before California and other states set up certain homebuyer protections, these words haunted many purchasers who discovered major defects with their home after moving in, and were left without recourse against the seller. Under the harsh legal principle of buyer beware, a seller has no legal obligation to disclose defects to the buyer. That’s not to say that sellers are protected when they actively cover up hidden defects or make false representations, but if, for example, the seller simply failed to mention that the home is prone to flooding or landslides, then the burden is on the buyer to discover defects. While this is still the law in some jurisdictions, California and many others have abandoned this principle and now impose legal obligations on the seller in order to protect homebuyers. (more…)
Posted in Business Real Estate, Buying a Home, Buying a Property, Home Ownership, Real Estate, Selling a Property
Wednesday, November 18th, 2009
After meeting in the same location for more than two decades, a local San Diego County church was told by the county that its members could no longer meet in its usual church building, reports Anne Krueger of the San Diego Union Tribune. It’s also reported by a San Diego Union Tribune AP article that several hundred miles north of San Diego, nine Fresno area medical marijuana dispensaries have been ordered to shut down. Elsewhere, in the affluent coastal city of Palos Verdes Estates in Los Angeles County, a homeowner currently faces misdemeanor charges for allegedly running her home as a “party palace,” as detailed by Jeff Gottlieb in the Los Angeles Times. What do these stories have in common? Accusations of zoning violations. (more…)
Posted in Boundaries, Business Real Estate, Home Ownership, Real Estate, Zoning
Tuesday, September 29th, 2009
If you’re a San Diego business owner, then you know that when looking for commercial space, the last thing you want to do is blindly sign the lease being offered to you, because a commercial lease always needs to be negotiated. Looking at the Chargers’ lease of Qualcomm Stadium with the City of San Diego, the San Diego Union Tribune reports that the agreement expires in 2020. Before then, the lease provides that the Chargers have a month-long window every year to notify the city of its intent to leave, with penalties at $54.6 million if the team moves next year, but dropping to less than half that amount in 2011 (an amount which some say could be a penalty the team is willing to pay). At least according to Chargers’ special counsel Mark Fabiani, quoted in a Voiceofsandiego.org article, the city got a “bad deal” considering the limited revenue generated by Qualcomm. (more…)
Posted in Business Real Estate, Lease, Real Estate, Running a Business, San Diego
Friday, August 7th, 2009
True or false? Title insurance will protect you if you buy a home and later find out there are title problems. Answer…it depends. Of the many details involved when buying a home here in San Diego, one that’s often overlooked is the role of title insurance. (more…)
Posted in Business Real Estate, Current Events, Deed Problems, Real Estate, Title Insurance
Friday, June 12th, 2009
Co-ownership of California real estate is common, whether you purchased property with a friend or business partner, or you just happened to inherit property with someone else. While co-ownership can have its advantages, it’s not always the best investment for you. What do you do if you can’t agree with co-owners on the best use for the property, on whether to sell, or when someone isn’t living up to his or her obligations? If things can’t be settled, California law generally allows a co-owner to force a sale of the real estate through what’s known as a partition action, allowing you to receive proceeds from the sale based on your share. You and the other co-owners may even agree to a buy-out. (more…)
Posted in Business Disputes & Lawsuits, Business Real Estate
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