A right of first refusal is, essentially, an option contract. It is a contract or a condition in a contract between the owner of an asset, and some other person with an interest in that same asset, that allows the interested person to buy the asset from the owner instead of allowing the owner to
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What is “Real Property”? (Civ. Code § 658)
Under California’s Civil Code, real property refers to land, and things affixed to land such as houses. (Civ. Code § 658.) When people think of “property” they may envision a large lake house or a humble home. But this is only one type of property – real property. Personal property, on the other hand, is…
Does a Partition Count as a Bankruptcy Claim?
Yes, it can. Partitions and bankruptcy can interact in unusual ways despite the fact that they can often seek the same thing: the sale of a piece of property.
Nonetheless, a co-owner of property filing for bankruptcy either before or during a partition lawsuit immediately raises several issues for the other innocent co-owners. For example,…
What is Proposition 19?
Proposition 19 is a new law in California that significantly affects the way property taxes are assessed on homes when deeded to heirs. While intra-family transfers were previously protected under Proposition 13, its effect has been significantly bludgeoned. On the other hand, Proposition 19 does include the added benefit of extra assessment transfers for residents…
Who is a “responsible bidder” under the Partition Law (CCP § 873.740)?
Under the Partition Law, “[a] bidder is responsible if it can perform the contract as promised.” (PCC § 20162; Valley Crest Landscape, Inc. v. City Council (1996) 41 Cal.App.4th 1432, 1438.) That means, in essence, that it can be determined from the face of the bid itself that it will be viable, without outside investigation…
What is the difference between a deed of trust and a mortgage?
Civil Code section 2924 states that “every transfer of an interest in property, other than in trust, made only as a security for the performance of another act, is to be deemed a mortgage.” The “other than in trust” portion of the statute refers only to express trusts, however, because “under a deed of trust…
A Guide to Appealing an Interlocutory Judgement
Does the appeal of an interlocutory judgment automatically stay the partition case?
No. An appeal of an interlocutory judgment in a partition case is not stayed unless the appellant files an undertaking. (CCP §§ 917.4, 917.5.) Normally, appeals of court judgments result in an “automatic” stay that restrains the lower trial court from issuing any…
How do you dissolve a Limited Liability Company in California?
LLC’s are perhaps the most common form of business entity in the country on account of their approachability. But their large number means that plenty will and do fail. When this occurs, members of the LLC can file a lawsuit for “involuntary dissolution.”
That said, the non-dissolving members have a way of fighting back: the…
What is the Difference Between a Tenant, a Co-owner, and a Squatter?
There are many relationships a person can have with real property. The main relationships where a person has some sort of claim to real property are those of a tenant, a co-owner, and a squatter.
Each of these terms mean something different under California law. As a result, one’s relationship to the real property will…