Sacramento Real Estate Law and Business Law Firm

Partitions

When co-owners cannot agree on what to do with a property, partition may be necessary. Co-owners of real property in California have an absolute right to partition common property. It may be necessary to bring an action for partition with the assistance of a real estate attorney in the Sacramento area. The court will determine the parties’ interests and the priority of liens. When real estate cannot be divided fairly, the court can order the property to be sold and the proceeds to be divided, according to the priority of liens and interests. A co-owner that advances funds to pay common expenses on the property, pays an obligation for the property’s benefit, or incurs necessary expenses in caring for the property is entitled to recover a proportionate share from a co-owner that got the benefit of the payment. A partition decree can provide that the co-owner that got the benefit should be charged with a lien for what was advanced to them.

Quiet Title Actions

Quiet title actions are brought by a holder of an interest in land when adverse parties claim an interest in the property or a cloud on title. They are filed in the superior court where a piece of real estate is located. Under California Code of Civil Procedure sections 760.040 and 760.050, a court is vested with full authority to determine title issues once a quiet title action is before the court. The interest of the plaintiff in a quiet title action may be title, a lease, title by adverse possession, or an easement. Quiet title actions cannot be used to determine property lines or cancel recorded instruments, and they are distinct from actions to remove a cloud on title.

Purchase and Sale Agreements

Real estate purchase and sale agreements are vital to successful transactions. An experienced Sacramento real estate attorney can negotiate terms and conditions for the sale or purchase. Among the issues that may need to be negotiated are real estate contingencies. Real estate contingencies are parts of a real estate contract that determine what happens if some aspect of the deal does not go through. They can provide a buyer with an escape hatch, for example, that allows the buyer to get out of the contract for a specific period during escrow without being penalized. Another contingency that may need to be included is a contingency that the buyer must sell his or her home first, before buying the seller’s property. Another standard clause that may be included in a real estate purchase and sale agreement would allow a buyer 17 days to do due diligence before removing buyer contingencies.

Leases

Under California law, a lease obligates both the landlord and the tenant for a set term. Often, that term is a year, and during the term, the landlord will not be able to alter the rent or change the other terms of the lease, unless the lease provides for these measures. The landlord will not be able to force a tenant to move during the term of the lease unless the tenant violates a significant term, such as failing to pay rent. In California, landlords must follow certain procedures to end a tenancy. A Sacramento real estate lawyer can help you ensure that you follow these steps. For example, under the California Code of Civil Procedure, a landlord who believes that a tenant has not paid rent needs to provide three days’ notice to pay rent or quit.

Option Agreements

In California, an offer to purchase real property can be revoked by the person making the offer at any time before the offer is accepted by the other party. An option agreement is an independent contract with its own consideration, and it allows the parties to agree that the offer will stay open and irrevocable for a particular period of time. The potential buyer pays option consideration in order to be able to use the option to buy sometime in the future. If the option holder does not exercise his or her option, the seller can keep the option consideration in exchange for having kept the offer open for a specified time period. A real estate lawyer in Sacramento can draft or review an option agreement to make sure that a client’s interests are protected.

Business Law

Business law often involves forming contracts, buying and selling businesses, and handling competition. The interests of business owners and managers or shareholders and members may need to be protected by written agreements. These agreements may be internal, as with shareholder agreements, or external with other individuals and businesses. Carefully drafting the language of an agreement is vital to avoid disputes down the road. In order to be valid, a contract needs to include an offer and acceptance by the parties, an exchange of promises, and sufficiently definite terms.

Entity Formation

Once you have decided to start a business, you must choose the type of business entity to form. Considerations can include tax and liability, as well as the concerns of directors and owners. There may be separate federal and state requirements regarding a certain type of entity. Structures include corporations, limited liability companies, general partnerships, limited partnerships, and limited liability companies. Certain entities, such as corporations, require greater planning and formalities.

Business Purchase and Sale Agreements

When a California corporation or another business is being bought, a buyer often acquires a wide range of assets, including real estate, personal property, intellectual property, goodwill, and the business itself. Buyers need to closely examine seller liabilities. One such seller liability involves real estate. Buyers may protect themselves against real estate claims by buying title insurance. The buying and selling of businesses in California can be challenging. Our firm helps business owners find creative answers quickly in connection with the purchase and sale of business assets and equipment, the purchase and sale of existing businesses, leases of equipment, and commercial real property.

Consult and Experienced Attorney in the Sacramento Area

James J. Falcone efficiently promotes and protects the interests of real estate and business clients. He has represented parties on all sides of real estate and business deals and disputes. He works with clients as they start up, form, manage, and buy or sell companies. If you need a real estate attorney in Sacramento or legal representation in a business matter, you should consult James J. Falcone. He represents clients throughout Sacramento, Placer, Merced, El Dorado, Contra Costa, Amador, and Calaveras Counties. Call us at (916) 442-4204 or contact us through our online form.