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

Commercial Real Estate Law & LLCs

Commercial Real Estate Law & LLCs

The world of commercial real estate transactions financing is fraught with legal pitfalls, a fact that has been duly reported time and time again since the end of the “boom” in late 2007.  Lower valuations, impinged cash flow, government action, and general economic distress have, and will continue, to affect commercial real estate in San … Continue reading Commercial Real Estate Law & LLCs