Prop 19 – Property Tax Changes

Prop 19 – Property Tax Changes

On November 3, 2020, California Residents passed Proposition 19 (2020) The Home Protection for Seniors, Severely Disabled, Families, and Victims of Wildfire or Natural Disasters Act (“Prop 19”). Prop 19 drastically changes California’s property tax laws. Prop 19 makes amendments to the state’s Constitution that are important for property owners in California: Prop 19 eliminates … Continue reading Prop 19 – Property Tax Changes

Short Sales and Deficiency Judgments Under the New Rules in California

Short Sales and Deficiency Judgments Under the New Rules in California

On July 11, 2011, the governor signed a new law that prohibits second and third mortgage holders from pursuing deficiency judgments after they have agreed to a short sale.  This amends California Code of Civil Procedure Section 580e which prohibited the same practice by holders of first mortgages. Deficiency Judgments If a lender forecloses on … Continue reading Short Sales and Deficiency Judgments Under the New Rules in California

San Francisco Assessor Seeks Increased Penalties for Failure to File PCOR

San Francisco Assessor Seeks Increased Penalties for Failure to File PCOR

If you have tried to record anything in California recently (e.g. a deed on that stone house you recently purchased), you have no doubt run across the requirement that almost everything that crosses the desk at your county’s office of the Recorder must be accompanied by a Preliminary Change of Ownership Report (PCOR).  The name implies this … Continue reading San Francisco Assessor Seeks Increased Penalties for Failure to File PCOR