... A very critical concept in California Real Estate Law is the disclosure of agencies. In 1987 legislation was passed to protect home owners in regards to the agency status of their real estate professionals. Agency is simply the relationship between the principle (the seller or buyer) and the real estate professional. In agency, the professional has a fiduciary duty to look out for the best interests of his/her principle. The fiduciary duty is defined as the 'duty of utmost care, integrity, honesty, and loyalty in dealings.' There is a form that is used called the Agency Disclosure form (or ... the other party without written permission. The agency laws were put into practice to protect home owners and home buyers. It establishes that an agent must put the needs of the principle above his own. The law also makes the declaration of who represents who and in what capacity widely known. There are to be no secrets in a real estate transaction. Dangers of Dual Agency In most real estate transactions there is one agent representing a seller (aka sellers agent or listing agent) and another agent representing a buyer (aka buyers agent). However, at times, one agent might end up representing both the buyer ...
Tags: real estate | dual agency | fiduciary duty | real estate transactions | agent | real estate professional |

... In the arena of real estate, you'll meet many legal terms, and "joint and several liability" is one of them. Despite the illusion of being self-explanatory, it's not quite as evident on how it connects to real estate and impacts you as a homeowner. Law dictionaries describe the terminology as an obligation entered into by no less than two individuals, making each one accountable severally and everyone liable jointly. Its definition is really quite easy. In non-legalese, joint and several liability basically explains how a creditor can sue anybody who enters jointly into a ... . This means that the creditor has the choice to sue just one individual in the group or the group as a whole for the full amount. The contract terms must state this in order for it to be applicable. Joint and several liability is often learned in Tort Law courses by a lot of law students. How it relates to the property they own is how most property owners will understand it themselves. You, as a property owner, can be held jointly and severally accountable if you invite a visitor to your property and they are hurt and decide to sue. Sometimes ...
Tags: real estate laws | real estate law | joint liability | several liability | liability | real estate |

... , to define what a real estate closing is and what a buyer and seller can expect. The real estate closing is the transfer of the real estate title from seller to buyer according to the fully executed sales contract. The buyer obtains possession of the property, receives title to the property, and the seller receives their proceeds from the sale. There are many additional costs in regards to the closing on the local, state, and federal level. As a buyer of real estate, it is imperative that the buyer review all documents making sure everything is precise and stated correctly and according to real estate law. This includes the review of ... , and federal level. As a buyer of real estate, it is imperative that the buyer review all documents making sure everything is precise and stated correctly and according to real estate law. This includes the review of evidence of title, the seller's deed, valid proof that any encumbrances have been removed from the title if any, review of the property's survey, and the outcome and result of the home inspection. Most all real estate professionals urge their buyers to conduct a final inspection or walk through of the property they are purchasing prior to closing, with the real estate agent present. Reviewing the survey of the property ...
Tags: real estate | real estate closing | hud statement | RESPA | real estate settlement |

... a home. Your real estate professional will help you with the selling of your property including providing the proper documents for closing on your transaction. Also, if you are in need of an attorney that specializes in real estate law, your agent can probably provide you with some excellent references. A professional agent can also assist you in figuring out the best listing price for your home. Having your property listed within the correct range is vital to a smooth selling process and allows you to get the most money for your property. In addition to the above mentioned benefits, having a real estate professional working for ... when you are not. A real estate professional will usually pre-screen potential buyers for you to ensure they are qualified to even purchase your home. With only pre-screened buyers viewing your property, no one will be wasting your time viewing your home. Though hiring a real estate professional is an added expense, after you consider the loss in time and money you may experience from not pricing your property appropriately or missing work to show your house, you will quickly discover that the cost of an agent may, in fact, be a good investment. Hiring a real estate agent to handle your transactions will ...
Tags: real estate | real estate professional | estate professional | real estate agent | consider hiring |

... to the agreement need to be listed. Protecting you from a contractual breach or activity that is fraudulent is the main objective of the Statute of Frauds, as can be deduced from its name alone. You should constantly validate a written contract's contents while you're participating in a real estate transaction. Is it in fulfillment of the requisites of the Statute of Frauds? A revision must be enforced if not, since a court could make a decision it's not valid at all at some later time in the event a dispute arises. You should also know without really needing ...
Tags: real estate law | statute of frauds | real estate contracts | real estate tips | real estate |

... Do you ever wonder how you know the title to your land is yours unequivocally? Real estate scams have come up in recent news stories, like the one where a homeowner sold his house to two separate people within the span of just a few days. Ultimately, only one person has the authentic, true title to the property, and it often depends on a first-in-time ...
Tags: torrens title | real estate law real estate legal terms | real estate |

... add fire extinguishers in each home or unit we own. Just be sure that you know how long the extinguishers should last and replace them as needed. There may be legal ramifications in your state when adding fire extinguishers so be sure to discuss this with an attorney that practices real estate law in the state the property is located. You should also run this buy your insurance carrier. Most tenants will forget about changing the smoke detector batteries and replacing heating and AC filters so it's a good idea for you and the property manager to keep track and have them ...
Tags: real estate | investing | property managers | real estate education | |

... that goes undisclosed, even if by accident, can cause liability for you. Even if you've protected against this, you may want to avoid bad press, so to speak, with respect to your real estate transaction. Particularly if you live in a small town, news travels quickly when someone is dissatisfied. This could be a concern both for your reputation and your ability to enter successfully into future real estate transactions. While most people are aware of and able to guard against structural defects in a property, encumbrances on the title are another area that warrants special attention. An encumbrance is consequently a technical ...
Tags: encumbrances | real estate encumbrance | real estate law | real estate tips | real estate |

... realized how many lawsuits there are with regards to real estate transactions, and how much new case law there has been since the economic implosion of the real estate market. It's quite unfortunate when you think about it. But that's the way it works, and that's the way the cookie crumbles, and there are more storm clouds on the horizon when it comes to laws, lawyers, and real property. Real Estate lawyers have been a necessity in the industry for as long as private property rights have been with us. Today, with all the new case law, backlogged court cases, and new bureaucratic legislation it has ... the sale many of these properties pending for a long time, and that means no buyer can purchase the property, no bank can foreclose on the property, and meanwhile everything is at a standstill. This isn't good for anyone, and it's one of the reasons that I believe real property law is going to have a tough time digging itself out after being buried under tons of debris, legal paperwork, and court cases in 2011. Indeed I hope you will please consider all this.
Tags: Real Estate Law | Tough Time | 2011 | real property | listing agreement | court cases |

... to real estate school. Pay that tuition again. Apply for a license again. Get your fingerprints again. Pass the real estate exam again. Last year, I was teaching a broker's class. I had a student that told the class she was taking this broker's class for the second time. Broker's class is not fun. She told us she had gone to broker's class at a school in Ft. Lauderdale two years ago. She passed her school test. She passed her Florida real estate broker's exam. She got her Florida broker's license. As I have already mentioned, Chapter 475 ( real estate license law) of ... In Florida we have a law that requires you to take a POST license class after you get your real estate license but before you re-new it for the first time. This will be less than twenty four months after you get your license. For sales associates, this is a forty five hour course. This class can be taken at any Florida approved real estate school. It can be taken on line or in a classroom. For real estate brokers, the post license requirement is two thirty hour classes. These classes must be taken before you re-new your broker's license for the first time ...
Tags: Real estate post license course | real estate school real estate license | expiration | renewal | real esta |

... meaning, but ill informed real estate agents and real estate brokers. Again - YOU CAN assign any contract (assuming you are a valid party to the contract) unless the contract says otherwise; 2 - Anyone can sell their own property without a real estate license. O.k., so what is property? Property is any tangible thing in which you have some from of ownership interest, including a fully ratified sales contract. O.k., so before I get in trouble for practicing law, understand this, what I have just said, and will continue to emphasize is that this is about BUSINESS Advice, specifically in the area of real estate investing. NOT legal ... MUST know before we go any further: 1 - It is a well established principal of contract law that EITHER party can assign a contract, unless the contract itself says otherwise. There is a lot of confusion in the marketplace about this - often times the source of the confusion are well meaning, but ill informed real estate agents and real estate brokers. Again - YOU CAN assign any contract (assuming you are a valid party to the contract) unless the contract says otherwise; 2 - Anyone can sell their own property without a real estate license. O.k., so what is property? Property is any tangible thing in which you ...
Tags: real estate | real estate investing | wholesale real estate | estate investing | wholesale real | quick cash |

... adequate or that it would be extremely difficult to establish the amount of damages. In addition a mandatory injunction is more difficult to win than a preliminary_injunction (because the court is more hesitant to force a party to affirmatively do something as opposed to simply maintaining the status quo). Case law states that a mandatory injunction is not permitted except in extreme cases and is only rarely granted. Because a preliminary_injunction will preserve the status quo and may act as powerful leverage in real estate litigation, always consider whether an application for a preliminary injunction is appropriate. ... injunction can prevent a party from managing or disposing of a property as he sees fit, an injunction can be a powerful tool for leverage in real estate litigation. What Is A Preliminary Injunction? A preliminary-injunction is a provisional (i.e., before trial) injunction that is meant to keep the status quo prior to a trial and judgment. A preliminary-injunction is intended to prevent 'irreparable injury' from occurring prior to a final court ruling. In real estate litigation, preliminary-injunctions are often brought to prevent a foreclosure, a sale or destruction of property. There are two types of injunctions: a prohibitive injunction ...
Tags: Real estate attorneys los Angeles |

... according to law must be computer assisted to avoid, if not totally depart from controversy in property delineation and court litigation in cases of interest conflict. CAMA, therefore, improved assessment problems and interpretation of real property investment taxes legal provisions. Computer aided knowledge opened up the market mechanisms for real estate investors. Knowledge of competitors' profiles and best practices in taxation enjoyed in other states or other parts of the world led to demand for special provisions of exemption allowed by law which redound to the benefit of investors, a motivation for more developments. Following general guide to real estate investment taxes are ...
Tags: General Guide to Real Estate Investment Taxes | Investment Taxes | Real estate | real estate investment |

... company rules and policies, was breached; and -whether the defendant's use of the computer exceeded normal use that was expected by the plaintiff. In recent court decisions, a real estate business was allowed to proceed with a civil action against a former employee for violations of the CFAA. In violation of his employment contract, the employee decided to ... to include files in the computer), and as intentionally accessing the computer without authorization. Although the employee had not yet left his job when he installed the program, by law any authorization he might have had evaporated as soon as he violated the duty of loyalty to his employer. In another case brought under the CFAA, a ...
Tags: business legal counseling | legal counseling | business law | scott carlyon | Texas law | real estate law |

... get confused about who it really is that a real estate agent represents in a transaction. Unless you have hired them as a buyer's agent, all real estate agents represent the sellers -- and not just on the houses that have signs with their names on them. They are bound by law to get the seller the best market price for their home and sell it. On the other hand, they are bound to represent the home fairly to buyers and try to find them the perfect home for their needs. Keep in mind that the real estate agent can't give you clues about the desperation ... the homes in the market that are comparable in size and condition. As a buyer, this is information that can be easily found on a CMA or comparative market analysis that the real estate agent can provide. You can compare homes in the same neighborhood that are for sale and form your own opinion of market price. Even if the real estate agent is a close friend, they are still bound by law to represent the seller, whether they are the listing agent on a particular home or not, unless you hire them as a buyer's agent. Through the MLS multiple listing service, agreements ...
Tags: real estate agent | real estate broker | listing agent | licensed broker | licensed agent |

... As I shared last week, real estate is one of the most complex areas when it comes to tax law and accounting which can easily lead to mistakes. A common mistake I see with rental real estate is the amount of depreciation taken. If you've ever heard me talk about depreciation, then you know I think depreciation is like magic. Rental real estate can be depreciated, and when done properly, it can take rental real estate with positive cash flow and turn it into a loss for tax purposes. That is magical! When I work with a new client who owns rental real estate, I don't immediately jump to ... depreciation, then you know I think depreciation is like magic. Rental real estate can be depreciated, and when done properly, it can take rental real estate with positive cash flow and turn it into a loss for tax purposes. That is magical! When I work with a new client who owns rental real estate, I don't immediately jump to the depreciation step. Instead, I do a few other steps first to make sure the tax benefits of depreciation are maximized, Here is my 3 Step Approach to Maximizing the Magic of Depreciation in Rental Real Estate Step #1: How much tax did they pay? I want to ...
Tags: maximizing | magic | depreciation | rental | real estate | mistakes |

... a chance...and such is the nature of real estate investing, or anything else in life that follows a proven system, when given the chance to grow. It is as though there is a "Law" that if a seed is planted in the ground, and watered and given air and light - it MUST GROW! Yes, there MUST BE a "law" for everything: "Laws of Nature", "Laws of Success". Even "Laws of Physics": An object at rest, tends to stay at rest... While an Object in Motion, tends to stay in motion... Do you have one or two real estate investment courses on your shelf that you ...
Tags: real estate investing | make money real estate | real estate investing tips | real estate investing cla |

... is down or in a slump. The same idea applies to real estate. Many people are fearful about buying in a down market for many reasons, but mostly because prices are falling. This is due to the surplus of inventory in the marketplace. When a market is saturated with countless homes or properties for sale, it means that inventories are up. The basics of free market economics apply. When there is a surplus of property on the market, sellers are forced to adjust prices lower to attract potential buyers. This is the law of supply and demand. Buyers will only buy property at ... declined, such as the current period, but over the long run real estate investing has been a very successful and lucrative endeavor for many people. Purchasing real estate is much more than just finding the right place to call home. In fact, one in four residential homes are bought as an investment property. While being a real estate investor is occasionally stressful, it can also be very financially rewarding. Investing in real estate has become increasingly profitable over the last fifty years and has become a common investment vehicle, although often misunderstood or underutilized by many. Real estate as an investment takes on many forms from single-family homes to ...
Tags: real estate | real estate investing | estate investing | real estate investor | estate investor |

... Real estate is one of the most complex areas when it comes to tax law. It is also one of the most complex when it comes to accounting. Both of these factors can make the reporting challenging - it's easy to overlook important steps, which can lead to missing out on tremendous tax savings or an error on your tax return. Here is a common mistake I see with rental real estate reporting The Repairs Account is Used for Everything When I review the accounting for a rental real estate activity, one thing that always makes me cringe is a very large amount in the "Repairs" account ...
Tags: Real Estate | tax | accounting | expense | repairs | improvements |

... like a properly oiled machine. Deals will come in, deals will go out, and you will make money in the middle; all without you involved in every aspect. Wholesaling real estate without being a principle in the transaction: Many send out the wholesale deal without realizing that what they are doing is illegal. You must be a principle in the real estate transaction before you can offer it for sale. Otherwise, you are breaking the law and committing fraud. Not finding out what your buyers want to buy: One of the most important things you can do is build a buyers list. These are the ... going for it, but after you know what you are doing. Don't start or run any business without being educated enough to run it. Once you know what you are doing, it's much easier to prepare and implement the right plan. Allowing Your Real Estate Business to Run Your Life: Many investors start their real estate business and think they have to do it all. In the beginning you do want to be part of every aspect of your business to learn it, but as soon as you can, it is very beneficial to get help. This will allow you to be ...
Tags: wholesaling | real estate | real estate mistakes | wholesaling real estate mistakes | real estate investing |