Is a partnership-owned LLC subject to a documentary transfer tax for a change in ownership of property it holds when more than 50% of the interests in the partnership are transferred?

Facts: A partnership formed by a family trust establishes an LLC, naming the partnership as its sole member, to hold title to a property. The trust transfers all ownership interests in the partnership to various subtrusts and, from the subtrusts, conveys 90% of the partnership interests to separate trusts held by different trustees. Thereafter, the…

Is a neighbor fraudulent when they do not disclose their easement rights to a buyer purchasing an adjacent property?

Facts: A buyer enters into a purchase agreement for a commercial property for their business. Before closing escrow, the buyer discovers an existing neighbor using an easement over the property for service vehicles. The buyer demands the neighbor cease using the easement. The neighbor agrees, but does not discontinue their use of the easement. The…

May a request to transfer the base year value of a property taken by eminent domain to a replacement property be granted outside the state’s time limitation?

Facts: An owner’s property is taken by eminent domain. Three years later, the owner purchases a replacement property and pays property taxes based on the current fair market value of the property. More than four years after the first property was taken by eminent domain, the owner files a claim with the county to have…

Does a lender have authority to foreclose on a defaulting homeowner when it fails to meet the conditions precedent for foreclosure contained in the trust deed?

Facts: A homeowner obtains a mortgage secured by a trust deed on their home. The trust deed specifies conditions required by the National Housing Act (NHA) that the lender is to fulfill before foreclosing on a homeowner in default, including a meeting with the homeowner to discuss foreclosure alternatives and loan modifications. The homeowner later…

Mapping the [California] jobs recovery

Map update 10/22/14  County Dec 2007 Jobs Sep 2014 Jobs Percent change Alameda 1,071,700 1,060,100 -1.1% Alpine 860 600 -30.2% Amador 12,820 10,780 -15.9% Butte 76,800 75,600 -1.6% Calaveras 8,950 8,290 -7.4% Colusa 5,420 6,710 +23.8% Contra Costa 1,071,700 1,060,100 -1% Del Norte 7,940 7,680 -3.8% El Dorado 919,900 883,500 -4% Fresno 313,300 316,400 +1% Glenn…