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- What California Real Estate Investors Should Know about Buying Apartment Buildings
by Bona Law PC
Apartment buildings can be an excellent investment for California real estate investors. Factors like the size and style of the building, the type of units available, and of course, the location are all important. An apartment building owner can manage the property directly or delegate this role to a manager, but liability for breaches of a lease agreement, or for violations of California landlord-tenant law, will ultimately fall on the owner rather than the manager.
- What Are Prescriptive Easements?
When a person adversely possesses property or squats in a building, he or she may cause a prescriptive easement to occur. Knowing how this occurs and what ways to prevent it are both important for land and property owners, so they may implement the proper preventative measures and avoid a portion of land or a building to transfer ownership to someone else.
- Seller’s Obligation to Disclose Certain Material Conditions
It is important for a seller to disclose various material conditions to potential buyers to avoid litigation at a later time if the purchaser discovers defects or severe complications within the property. Many of these details depend on state laws, but it is the seller’s obligation to ensure the buyer is aware of certain material conditions and facts.
- What Are Homestead Protections?
In order to protect homeowners from losing their primary residence, most states have homestead protection laws in place for economic hardship. It is through understanding these laws that a homeowner may find his or her circumstances less difficult when he or she loses a job or is unable to make mortgage payments.
- Tips to Mediate Real Estate Disputes
Real estate disputes are often difficult to navigate without help, and knowing various tips to mediate out the issues is important for all parties involved in these types of conflicts. Engaging a lawyer versed in mediation may become the most beneficial hire the person accomplishes to resolve any dispute over the real estate property.
- Partition of an Inherited Home after Probate
Once the property from an estate transfers to the heir, it could then face partitioning from siblings or other possible dependents of the estate. The processes that happen after probate could complicate the property use and lead to disputes that end in the sale of an entire lot of land so that everyone involved has a share.
- Necessary Disclosures in Real Property Transactions
When there is a buyer interested in purchasing a real estate property, it is important that the seller disclose any defect, complications or problems with the building or land to avoid issues later. However, knowing what information the seller must disclose is important, so a lawsuit does not occur once the property is no longer his or hers.
- Loss of Property Through Adverse Possession
The legal right to acquire property through an easement, building or fence may transition the ownership of some or all the land or building from one person to another. If someone places or uses the land or house in such a manner, he or she may become the legal owner after so much time passes based on the state laws.
- Timeshare Reseller and Transfer Scams
To ensure a person does not suffer from financial difficulty when purchasing a timeshare, it is critical to understand if a reseller or transfer scam is taking place. Knowing what these scams are and how to avoid them is essential, and the potential purchaser may need to research or assess the property personally before making the purchase.
- Property Excavation Due to Neighbor’s Invasive Plants – Who Pays?
The underground spreading and invasion of plants may cause serious damage to neighboring property. Excavation may be the only remedy a neighbor has to understand and identify just how extensive the damage is to their property. Bamboo is one example of an invasive plant that may cause legal issues.