The Ritz Carlton Half Moon Bay contends the county tax assessor inflated the value of the hotel by including $16,850,000 in nontaxable intangible assets when assessing its fair market value. The appellate court agreed with the hotel, concluding “the income method at issue here violated [Revenue & Taxation Code] section 110, subdivision (d), by failing […]
Destroy Or Remove Fixtures From Foreclosed Property And Go To Jail.
Under Penal Code section 502.5, a borrower under a loan secured by real estate may not intentionally harm the lender by removing statutorily specified improvements from the encumbered premises. Defendants, a husband and wife, were convicted of violating section 502.5 by taking fixtures from their foreclosed home. A jury found an enhancement of “great taking” […]
Forbearance Fees Do Not Violate Usury Law.
A debtor entered into a series of agreements in which he sought to delay enforcement of judgments. The creditor agreed not to enforce the judgments prior to a certain date in exchange for certain promises as well as the payment of a surcharge of $500 per day for each day the judgments were not paid […]
Seller’s Salesperson Has A Fiduciary Duty To Buyer In Real Estate Transaction.
A broker represented both the buyer and the seller in a real property transaction through two different salespersons. A building permit lists the total square footage of a residence as 11,050 square feet, but the real estate listing stated the home “offers approximately 15,000 square feet of living areas.” Buyers made an offer and asked […]
It Would Be Wise To Perform Under A Transfer Disclosure Statement [TDS] Yourself If You Want To Sue Under A Contract.
This case involves “mixed use” property, or property improved for both residential and commercial buildings. Plaintiff is the seller, who sued the buyer for breach of a real estate purchase agreement. The trial court granted summary judgment in favor of the buyer because the seller, as a matter of law, was required to deliver a […]
Although Outdated, Information Provided By Seller’s Broker Was Not Inaccurate.
The seller’s broker posted the following about a commercial parcel: “This parcel is in an earthquake study zone but has had a Fault Hazard Investigation completed and has been declared buildable by the investigating licensed geologist. Report available for serious buyers.” The report, however, was prepared in 1982, and it was posted in 2006 when […]
Permit Condition Removed Because No Subdivision Of Land Involved.
A city’s municipal code states no grading permit shall be issued for a hillside site larger than 60,000 square feet unless a “tentative tract map” has been approved by a city planner. Here, a property owner sought a permit for construction of a three-residence family compound over hillside lots totaling 85,000 square feet. The trial […]
Right To Repair Act Is Not The Exclusive Remedy In Construction Defect Cases.
A construction company built a home, which was purchased from the developer by plaintiff. In her action against the builder and developer, plaintiff alleged the home suffered from numerous construction defects. The trial court granted defendants’ summary adjudication of issues after defendants argued the Right to Repair Act [Civil Code section 895, et seq.] provides the […]
Foreclosure In The United States Marine Corps.
Plaintiff, in the United States Marine Corps, took out a mortgage in 2007. Between 2008 and 2011, he was called up to active duty overseas three times, and failed to make all of his mortgage payments. The loan servicer began foreclosure proceedings in 2009; it rescinded the notice of default in 2010, but not the associated […]
Lease Survives Foreclosure.
Plaintiffs had rented space in a converted garage unit for several years when the residential property was foreclosed upon by a bank. The trial court granted the bank’s motion for summary judgment based on its determination the foreclosure sale extinguished plaintiff’s lease. Citing the Protecting Tenants Against Foreclosure Act of 2009 [PTFA; Pub.L. 111-22, Div. A, […]
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