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Common Liens and Judgments in Real Estate

August 29, 2024 | By

Property liens are an essential aspect of real estate that can significantly impact the ability to sell or refinance a property. A lien is a legal claim or encumbrance placed on a property, typically as a result of a debt owed by the property owner. Understanding the different types of liens and their implications is crucial for property owners, buyers, and real estate professionals. This article provides an overview of the most common property liens and judgments, explaining their nature, how they arise, and the potential consequences for the property owner.

What is a Property Lien?

A property lien is a legal claim against a piece of real estate, also known as real property, due to an unpaid debt. When a lien is placed on a property, it creates …

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Posted In: Blog, Real Estate

Understanding Evergreen Retainers and Hourly Billing: A Guide for New Clients

August 25, 2024 | By
Hourly Billing: A Client's Guide

When engaging in legal services, especially if you’re new to the process, it’s essential to understand how billing works to ensure a smooth and transparent experience. At Vokshori Law Group, we utilize an evergreen retainer system paired with hourly billing to provide consistent, uninterrupted legal representation. This guide will help you understand these concepts and how they benefit you as a client.

1. Initial Retainer Deposit

At the beginning of our legal representation, we require an initial retainer deposit. This deposit acts as a trust fund, from which legal fees and costs associated with your case will be drawn. Think of it as a prepaid account that ensures funds are available to cover the work we do on your behalf.

2. Hourly Billing & Detailed Rates

Our attorneys bill …

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Posted In: Blog, Client Resources

Recording a Lis Pendens in California

August 22, 2024 | By
Lis Pendens in California

Introduction

In California, the filing of a civil lawsuit involving real estate often necessitates the recording of a lis pendens, also known as a Notice of Pendency of Action. This legal document serves as a critical tool in real estate litigation, notifying all interested parties and the public that the property in question is subject to ongoing legal proceedings. Recording a lis pendens can have significant implications for the property, so it’s essential to understand the proper protocol for its use.

What is a Lis Pendens?

A lis pendens is a written notice that a lawsuit has been filed concerning real property or an interest in real property. The term “lis pendens” is Latin for “suit pending.” When recorded with the county recorder’s office, the lis pendens becomes …

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Posted In: Attorney Resources, Blog, Civil Procedure

Understanding the Transfer Disclosure Statement (TDS) in California Real Estate Transactions

August 19, 2024 | By

In California real estate transactions, the Transfer Disclosure Statement (TDS) is a critical document designed to protect buyers by ensuring they receive comprehensive information about the condition of a property. Governed by the California Civil Code, Sections 1102 – 1102.14, the TDS is a mandatory disclosure that sellers must provide to prospective buyers of residential property with one to four units. Understanding the purpose, requirements, and implications of the TDS is essential for anyone involved in buying or selling property in California.

What is the Transfer Disclosure Statement (TDS)?

The TDS is a statutory form that sellers use to disclose specific information about the property’s condition. This form, required under Civil Code Section 1102.6, is not a warranty but a source of information the buyer can rely on when …

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Posted In: Blog, Failure to Disclose, Real Estate Transactions

Preventing Adverse Possession – What Every California Property Owner Needs to Know

August 16, 2024 | By

If you own property in Los Angeles or anywhere else in California, it’s crucial to be aware of adverse possession. This legal concept can potentially allow a trespasser to claim ownership of your property if specific legal requirements are met. Understanding how adverse possession works and how to prevent it is essential for safeguarding your real estate assets.

What is Adverse Possession?

Adverse possession is a legal doctrine that permits a trespasser to potentially gain legal ownership of another person’s property. Under California law, this concept is governed by a combination of statutes and case law. The primary statute governing adverse possession in California is found in the California Code of Civil Procedure Sections 318, 319, 321, and 325. These statutes outline the legal requirements that must be met for …

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Posted In: Blog, Quiet Title Actions, Real Estate Litigation

Resulting Trusts In California

August 12, 2024 | By

Trusts are created by property owners to protect certain assets, privately transfer wealth, and reduce taxes.  However, trusts can fail and not operate as intended. In these situations, a probate judge could invoke a “resulting trust” as an equitable remedy to properly transfer the property, carry out the terms of the trust agreement, and protect the positions of the beneficiaries.

When trusts fail and assets need reassignment, the Vokshori Law Group’s experienced real estate litigation attorneys step in. They handle such cases to ensure a fair resolution and the proper reassignment of assets.

The Resulting Trust Remedy

There are three common reasons for a trust to fail:

  • the property owner did not fully fund the trust,
  • the owner did not update the trust as situations changed, or
  • the beneficiaries cannot
…
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Posted In: Blog, Quiet Title Actions, Real Estate Litigation

Understanding Transfer on Death Deeds

July 18, 2024 | By

The purpose of this article is to explain what a Transfer on Death (TOD) Deed is. TOD Deeds are designed to help people, especially the elderly, transfer their residential property more easily and at a lower cost. These deeds allow property transfer without the need for a will or living trust, which would typically require going through probate.

Before January 2016, the only ways to transfer property after the owner’s death were through joint tenancy with right of survivorship, probate, or a trust transfer deed. The laws establishing TOD Deeds were initially set to expire in 2021 but have been extended to 2032.

What is a Transfer on Death Deed?

A TOD Deed allows the property owner (grantor) to transfer their property by filling out and notarizing a form. This …

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Posted In: Blog, Estate Planning, Real Estate Transactions

If Walls Could Talk: Understanding the Duty to Disclose in California Real Estate

July 15, 2024 | By

In the landmark case of Reed v. King (1983), the California Court of Appeal tackled the issue of whether a seller must disclose that a house was the site of a multiple murder. Dorris Reed purchased a house from Robert King, who, along with his real estate agents, failed to inform her that a woman and her four children had been murdered there ten years prior. Reed only learned about the murders from a neighbor after the purchase. She sued for rescission and damages, claiming the non-disclosure affected the property’s market value and desirability.

The court reversed the initial judgment, which had dismissed Reed’s complaint. It emphasized that sellers must disclose facts materially affecting the value or desirability of the property, especially if such facts are not readily observable by …

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Posted In: Blog, Failure to Disclose, Real Estate Litigation

Hidden Hazards: The Thomases’ Battle with Unpermitted Structures and Past Violations.

July 12, 2024 | By

Imagine purchasing your dream property only to be blindsided by fines and legal battles over issues you didn’t create. This is the reality for the Thomases in Humboldt County, California. After buying a property unknowingly used for illegal cannabis cultivation by previous owners, they now face at least $1 million in fines due to an unpermitted structure. This case underscores the critical importance of thorough property investigations before buying, as hidden violations can lead to significant financial and legal consequences for new homeowners.

Background

In 2019, Humboldt County’s code enforcement department raided the property in Miranda, an unincorporated community, and shut down an illegal cannabis operation. The then-owners were cited for unlicensed cultivation and having an unpermitted structure, leading to an administrative penalty of $12,000 over 90 days.

Six days …

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Posted In: Blog, Failure to Disclose, Real Estate Litigation

Court Strikes Down Excessive Default Interest Penalties: What Borrowers Need to Know

July 8, 2024 | By

In a landmark decision that has significant implications for borrowers, the California Court of Appeal in Honchariw v. FJM Private Mortgage Fund, LLC ruled that excessive default interest and late fees in non-consumer loans can be deemed unenforceable penalties. This ruling serves as a critical reminder for borrowers to be vigilant about the terms of their loan agreements and offers a pathway to challenge unfair penalty provisions.

Case Background

Nicholas and Sharon Honchariw borrowed $5.6 million from FJM Private Mortgage Fund, LLC, secured by commercial real estate. Their loan agreement included an interest rate of 8.5% per annum, a 10% late fee on missed payments, and a default interest rate that increased to 18.49% upon any default. When the Honchariws missed a payment of $39,667 on September 1, 2019, these …

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Posted In: Blog, Mortgage Litigation, Real Estate Litigation

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