As a real estate lawyer in the Bay Area, a question I get from a lot of clients is how contingencies work in real estate contracts. These are important terms of any purchase agreement, so it’s essential that they be understood. The basic idea of a contingency is simple: it is a condition or reason […]
As an asset protection lawyer in Menlo Park, I find that it often makes sense to advise clients to create multiple LLCs when they own more than one investment property. While it might seem more convenient to simply set up one LLC for all of your properties, you can maximize your asset protection by putting […]
Do you owe far more on your Bay Area home or investment property than it is worth? Have your payments consistently gone up while the value has gone down? Are you struggling to make the payments? If the answer to any of these questions is yes, you face a huge choice: Do you keep paying and […]
If you invest in real estate, you need to know the rules regarding “dealer” status. If you are classified as a dealer, you cannot take advantage of tax deferred exchanges. Furthermore, your income from the sale of properties will be taxed at ordinary income tax rates instead of the more favorable capital gains rates. Here […]
Starting in July 1, 2011 all existing single-family homes that have fossil-fuel burning appliances, fireplaces, and/or an attached garage must install a carbon monoxide detector. As of January 1, 2013, all other types of housing, such as apartments and hotels, must have one installed. The detector must sound an audible warning once carbon monoxide is […]
Every day you read in the news about people losing their homes to foreclosure. Back in 2005 they got a loan at a ridiculously low interest rate and had no problem making the payments. And then the interest rate adjusted upward and they could no longer afford the payments. Thus, foreclosure. Before you walk away […]
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“Between government intervention, internal issues within the banks, and even simple deviations like the number of days in the month, it is easy to come to the wrong conclusions about foreclosure activity,” says Sean O’Toole, CEO and Founder of ForeclosureRadar.com. “The one thing that remains clear is that while the process has slowed, there remains […]
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