Legal Advice Blog: Legal Advice, Case Insights, & Local Law Information

For many property owners, their homes represent many things, from reaching an important life stage to the centers of their families. Mortgage fraud, however, may jeopardize their homeownership, as well as bring other repercussions. Having an understanding of mortgage fraud may help people avoid getting taken advantage of. Watch for common schemes According to the Federal Bureau of Investigation, people may engage in mortgage fraud to obtain or retain property ownership or for profit. Some of the most common types of mortgage fraud schemes people attempt include the following: Loan modification schemes Commercial real estate loans Foreclosure rescue schemes Illegal property flipping Equity skimming Silent second Scammers also take advantage of the Federal Housing Administration’s home equity conversion mortgage program to convert the equity elderly homeowners hold in their properties into quick cash. Avoid getting scammed According to the Office of the Attorney General of California, people may avoid falling prey to scammers by taking certain precautions. For example, those needing foreclosure assistance should not pay for loan modifications upfront and never make mortgage payments to anyone other than their loan servicers or lenders. Should those providing foreclosure assistance services offer guarantees to stop the foreclosure process or forensic loan audits, it should raise red flags. People should never transfer or sell their homes to foreclosure rescuers as this may cost them ownership of their homes. Homeowners have rights against predatory lending practices; however, that does not mean that such scams do not occur. To protect themselves and their property, homeowners may benefit from working only with reputable services if they find themselves in need of mortgage assistance.

When making your first foray into commercial real estate in California, you may elect to construct a new property in order to be one of the first to enter into a lightly developed area. This requires, however, that you have a strong understanding of local zoning regulations. Many come to us here at Goodkin APC expecting to gain easy approval for their proposed property, only to later learn that their plans often come into conflict with the intended use of the land. To avoid this, you should familiarize yourself with the commercial opportunities local laws allow for. Different types of commercial zones According to the Los Angeles County Department of Regional Planning, there are several different types of commercial zones. Restricted commercial zones allow for most commercial services, while neighborhood commercial and general commercial zones extend those uses to include rental, tailor shops and outdoor advertising, and secondhand stores, respectively. Commercial highway zones permit professional office space, financial services and parks and playgrounds, while commercial manufacturing areas allow for just that. Commercial planned development allows for most other non-residential restricted commercial services, while commercial recreation zones alott land for various types of recreational services. Each respective type of zone specifies certain allowable features, such as: Parking Exterior displays Outdoor storage Building height Zoning variances and conditional use permits What happens if the area you wish to build a commercial property on is not zoned for your desired use? You can seek a zoning variance, which allows for a waiver of development standards. However, officials often do not grant variances for properties not otherwise allowed in a particular zone. An easier option may be to seek a conditional use permit, which allows for certain uses which may not precisely fit into a certain zone. You can find more information on commercial property regulations throughout our site.

When making your first foray into commercial real estate in California, you may elect to construct a new property in order to be one of the first to enter into a lightly developed area. This requires, however, that you have a strong understanding of local zoning regulations. Many come to us here at Goodkin APC expecting to gain easy approval for their proposed property, only to later learn that their plans often come into conflict with the intended use of the land. To avoid this, you should familiarize yourself with the commercial opportunities local laws allow for. Different types of commercial zones According to the Los Angeles County Department of Regional Planning, there are several different types of commercial zones. Restricted commercial zones allow for most commercial services, while neighborhood commercial and general commercial zones extend those uses to include rental, tailor shops and outdoor advertising, and secondhand stores, respectively. Commercial highway zones permit professional office space, financial services and parks and playgrounds, while commercial manufacturing areas allow for just that. Commercial planned development allows for most other non-residential restricted commercial services, while commercial recreation zones alott land for various types of recreational services. Each respective type of zone specifies certain allowable features, such as: Parking Exterior displays Outdoor storage Building height Zoning variances and conditional use permits What happens if the area you wish to build a commercial property on is not zoned for your desired use? You can seek a zoning variance, which allows for a waiver of development standards. However, officials often do not grant variances for properties not otherwise allowed in a particular zone. An easier option may be to seek a conditional use permit, which allows for certain uses which may not precisely fit into a certain zone. You can find more information on commercial property regulations throughout our site.

You know you want to develop commercial properties, but you have little experience in the field. Could a checklist help you experience peace of mind? Crexi offers tips for reducing risk when investing in business properties. Understand how to protect your time and energy when investing. Check building systems Have experienced professionals familiar with the latest building codes in California inspect all building systems, such as plumbing, structural, electrical, roofing, HVAC and windows. Beyond learning the party paying bills, understand how the local utilities department meters and delivers utilities. Research property details Learn the property type you want to develop or invest in, the lot and building size, the number of units and the number of floors the building has. Once you have that information, check it against the details received from the seller or broker for accuracy. Investigate details that do not match what the seller or broker provided. Collect tenant information If the commercial building already has tenants, ask for details such as utility payments, rent and security deposits. Double-check the information against the rent schedule, and look for the opportunity to extend a lease that the broker or seller did not mention. Perform inspections and look over reports Do you want to invest in a sizable multifamily community? If so, take time to get to know every vendor with a hand in taking care of the property. That may include electricians, property managers, pest inspectors, environmental consultants and plumbers. Further, review such documents as legal violations, legal actions involving the seller, building permits and the title report. Leave no stone unturned when taking over commercial real estate. Proper due diligence may save you considerable time and money.

You know you want to develop commercial properties, but you have little experience in the field. Could a checklist help you experience peace of mind? Crexi offers tips for reducing risk when investing in business properties. Understand how to protect your time and energy when investing. Check building systems Have experienced professionals familiar with the latest building codes in California inspect all building systems, such as plumbing, structural, electrical, roofing, HVAC and windows. Beyond learning the party paying bills, understand how the local utilities department meters and delivers utilities. Research property details Learn the property type you want to develop or invest in, the lot and building size, the number of units and the number of floors the building has. Once you have that information, check it against the details received from the seller or broker for accuracy. Investigate details that do not match what the seller or broker provided. Collect tenant information If the commercial building already has tenants, ask for details such as utility payments, rent and security deposits. Double-check the information against the rent schedule, and look for the opportunity to extend a lease that the broker or seller did not mention. Perform inspections and look over reports Do you want to invest in a sizable multifamily community? If so, take time to get to know every vendor with a hand in taking care of the property. That may include electricians, property managers, pest inspectors, environmental consultants and plumbers. Further, review such documents as legal violations, legal actions involving the seller, building permits and the title report. Leave no stone unturned when taking over commercial real estate. Proper due diligence may save you considerable time and money.

An investment partnership may take your California business to the next level. Drawing upon the competencies of other professionals, you may find opportunities to expand the scope of your organization. Understanding how an investment partnership may benefit your company can help you decide if it is the right choice to pursue. Increase your marketability One of the characteristics of an investment partnership is the combining of assets between participants. This means your company can enjoy the benefits of having access to more resources. One advantage of this is the increased marketability your company may have to lenders. When they see a larger number of assets, they may feel more confident in loaning funds for business ventures. Partaking of the adjoined assets requires you and other participants to have both integrity and transparency. According to Inc., transparency will allow you and others to maximize every opportunity. Likewise, sharing openly and honestly with each other can help everyone identify weaknesses and implement solutions to avoid costly failures along the way. Increase your competitive edge A major challenge of operating a business is the need to stay competitive in your market or industry. An investment partnership allows you to draw upon the strengths of other successful professionals while still maintaining your expertise. Your newfound relationship may give you opportunities to learn other skills and competencies that can help you improve your organization. Because an investment partnership does not cost as much as other business transactions, it may be a more affordable option to consider. Prior to agreeing to a partnership, you and any other participants should develop and sign a formal contract that discloses everyone’s responsibilities, rights and benefits.

An investment partnership may take your California business to the next level. Drawing upon the competencies of other professionals, you may find opportunities to expand the scope of your organization. Understanding how an investment partnership may benefit your company can help you decide if it is the right choice to pursue. Increase your marketability One of the characteristics of an investment partnership is the combining of assets between participants. This means your company can enjoy the benefits of having access to more resources. One advantage of this is the increased marketability your company may have to lenders. When they see a larger number of assets, they may feel more confident in loaning funds for business ventures. Partaking of the adjoined assets requires you and other participants to have both integrity and transparency. According to Inc., transparency will allow you and others to maximize every opportunity. Likewise, sharing openly and honestly with each other can help everyone identify weaknesses and implement solutions to avoid costly failures along the way. Increase your competitive edge A major challenge of operating a business is the need to stay competitive in your market or industry. An investment partnership allows you to draw upon the strengths of other successful professionals while still maintaining your expertise. Your newfound relationship may give you opportunities to learn other skills and competencies that can help you improve your organization. Because an investment partnership does not cost as much as other business transactions, it may be a more affordable option to consider. Prior to agreeing to a partnership, you and any other participants should develop and sign a formal contract that discloses everyone’s responsibilities, rights and benefits.

Investment partnerships carry high risks but may also bring high rewards. Holding stakes in such business ownership, you may have concerns about protecting yourself, your personal finances and your business earnings. The type of structure you choose for your business, such as a limited liability company, may impact operational and administrative factors, including your liabilities. While some options may suit one business, they do not always fit the needs or goals of another. Setting up your investment partnership as an LLC may offer you certain advantages as your business profits and grows. Tax benefits According to the U.S. Small Business Administration, structuring as an LLC allows you certain tax benefits. Unlike with a corporation, your business profits and losses pass on to your personal income for tax filing purposes. Therefore, you do not have to pay personal taxes on your earnings, as well as corporate taxes on your business’ earnings. You should keep in mind, however, that you classify as self-employed and must therefore pay self-employment Medicare and Social Security taxes. Personal liability protection Structuring your company as an LLC, instead of a traditional partnership or another formation type, may also provide some personal liability protection. An LLC separates your personal and business assets for the purposes of liability. Consequently, your personal assets, such as cars, homes and savings accounts, may not be on the line in the event your investment partnership gets sued or you must file for bankruptcy. Pros and cons exist for all business formation types. Therefore, you may find it beneficial to consider these various benefits and disadvantages before choosing a business structure.

Investment partnerships carry high risks but may also bring high rewards. Holding stakes in such business ownership, you may have concerns about protecting yourself, your personal finances and your business earnings. The type of structure you choose for your business, such as a limited liability company, may impact operational and administrative factors, including your liabilities. While some options may suit one business, they do not always fit the needs or goals of another. Setting up your investment partnership as an LLC may offer you certain advantages as your business profits and grows. Tax benefits According to the U.S. Small Business Administration, structuring as an LLC allows you certain tax benefits. Unlike with a corporation, your business profits and losses pass on to your personal income for tax filing purposes. Therefore, you do not have to pay personal taxes on your earnings, as well as corporate taxes on your business’ earnings. You should keep in mind, however, that you classify as self-employed and must therefore pay self-employment Medicare and Social Security taxes. Personal liability protection Structuring your company as an LLC, instead of a traditional partnership or another formation type, may also provide some personal liability protection. An LLC separates your personal and business assets for the purposes of liability. Consequently, your personal assets, such as cars, homes and savings accounts, may not be on the line in the event your investment partnership gets sued or you must file for bankruptcy. Pros and cons exist for all business formation types. Therefore, you may find it beneficial to consider these various benefits and disadvantages before choosing a business structure.

Selling a brilliant product or service to the public is a sure-fire way to achieve the American dream. You may not be able to launch, grow and operate a business by yourself, though. Collaborating with business partners may give you access to the capital, knowledge and skills you need to make your venture work. If you suspect your business partner may be a narcissist, you may expect to have some bumps along the way. After all, narcissists may be selfish, demanding and manipulative. They may also have trouble expressing empathy or considering the needs of others. Draft a comprehensive partnership agreement Because of the possibility of having a future power struggle with a narcissistic partner, you should start your venture on the right foot. Drafting a comprehensive partnership agreement may help you minimize conflict. In your agreement, outline each partner’s rights and responsibilities. Also, consider including provisions for resolving disputes, removing partners and wrapping up the partnership. Maintain focus Your business venture has pressing needs you must address, but managing a narcissistic partner may divert your energy. To maintain focus, try not to take your partner’s behaviors personally. By maintaining a healthy emotional distance, you model appropriate partnership behavior for your narcissistic partner. Negotiate effectively If your narcissistic partner shares some decision-making authority with you, you may struggle to reach a consensus. Brushing up on your negotiation skills may be beneficial. By looking for collaborative solutions that allow each partner to win, you may keep disputes to a minimum. Even if one partner is a narcissist, it is usually possible to make a partnership work. Ultimately, while you probably have little control over how your partner behaves, you can and should control your response.

Selling a brilliant product or service to the public is a sure-fire way to achieve the American dream. You may not be able to launch, grow and operate a business by yourself, though. Collaborating with business partners may give you access to the capital, knowledge and skills you need to make your venture work. If you suspect your business partner may be a narcissist, you may expect to have some bumps along the way. After all, narcissists may be selfish, demanding and manipulative. They may also have trouble expressing empathy or considering the needs of others. Draft a comprehensive partnership agreement Because of the possibility of having a future power struggle with a narcissistic partner, you should start your venture on the right foot. Drafting a comprehensive partnership agreement may help you minimize conflict. In your agreement, outline each partner’s rights and responsibilities. Also, consider including provisions for resolving disputes, removing partners and wrapping up the partnership. Maintain focus Your business venture has pressing needs you must address, but managing a narcissistic partner may divert your energy. To maintain focus, try not to take your partner’s behaviors personally. By maintaining a healthy emotional distance, you model appropriate partnership behavior for your narcissistic partner. Negotiate effectively If your narcissistic partner shares some decision-making authority with you, you may struggle to reach a consensus. Brushing up on your negotiation skills may be beneficial. By looking for collaborative solutions that allow each partner to win, you may keep disputes to a minimum. Even if one partner is a narcissist, it is usually possible to make a partnership work. Ultimately, while you probably have little control over how your partner behaves, you can and should control your response.

As the new landlord of a California residential property, you still have a lot to learn. For instance, when does a tenant bear financial responsibility for repairs? Apartments.com differentiates landlord and tenant maintenance responsibilities. Understand how to resolve this aspect of common landlord-tenant disputes. When tenants pay for repairs When a tenant bears responsibility for damaging a rental unit, she or he also bears responsibility for paying for necessary repairs. Examples include smoke stains and smells, pet damage, blown-out lightbulbs and worsening issues the tenant failed to bring to your attention within a reasonable time. Besides cultivating leases that protect you from irresponsible tenants and defining what repairs tenants pay for, you may take additional steps to safeguard your investment in your rental property. For instance, let tenants know they should come to you immediately about repairs, damage and other inconveniences. Taking swift action may keep an issue from worsening. When landlords pay for repairs You must also understand when you bear responsibility for repairs. Essentially, landlords take care of maintenance and repairs resulting from standard wear and tear, age and safety hazards. Examples include visible mold, plumbing problems, electrical issues, broken locks when the tenant does not bear fault and heating repairs. If you do not take action on the above repairs, tenants have the right to withhold rent or hit you with a lawsuit. Look into state regulations to determine how long you have to make repairs. Taking prompt action may reassure tenants and turn them into long-term residents. Proper knowledge helps avoid landlord-tenant disagreements. Bear the above information in mind during your time as a property owner.