Recently, at the conclusion of last year, 2011, California courts issued a number of important rulings in the area of real estate litigation. Let me briefly mention the first two here and next week I will provide a synopsis of the other two worthy of your consideration. The first two I want to profile for […]
New Real Estate Laws That Protect California Homeowners, Buyers and Tenants in 2012
Condo Rentals Starting January 1, owners of units in a common-interest development, usually a condominium, must be allowed to rent or lease their units unless it was restricted before they took ownership. Senate Bill 150 was designed to counter new homeowner association (“HOA”) rules put in place to stem the tide of tenant-occupied properties. It […]
Law Against Short Sale Deficiencies Expanded
In a major victory for Homeowners facing the loss of their homes, Governor Brown signed into law today, Senate Bill 458, prohibiting a deficiency after a short sale for one-to-four residential units, regardless of whether the lender is a senior, or junior lienholder. Effective immediately for transactions closing escrow from this day forward, both senior […]
California Real Estate Law – New Homebuyer Tax Credit
In an effort to stimulate the economy, California is offering first-time homebuyers up to $10,000 in state tax credits. Two different types of homebuyer credit are available: credits for first-time homebuyers and credits for homebuyers opting for new homes. The credits are alternative credits, such that a homebuyer qualifying for both must choose one or […]
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