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Can a Letter of Intent be an Enforceable Contract in California?

Can a Letter of Intent be an Enforceable Contract in California?

Legal Updates, Real Estate Updates

In commercial real estate transactions, a letter of intent (an “LOI”) establishes the framework to negotiate a formal agreement.  As the quasi-deal before the “real” deal, an LOI can be important in determining the positioning and disposition of the parties, as well...
Can I Turn a Tax Deferred 1031 Exchange Investment Property Into My Personal Residence? Recent Tax Court Cases Say “Yes”

Can I Turn a Tax Deferred 1031 Exchange Investment Property Into My Personal Residence? Recent Tax Court Cases Say “Yes”

Legal Updates, Real Estate Updates

Many residential real estate investors at some point wonder whether an investment property that was previously the investor’s residence or is later converted into the investor’s residence can qualify for a 1031 exchange. The two recent Tax Court cases of Adams v....
Security of a Deed of Trust in California Prevents the Legal Doctrine of Merger of Estates

Security of a Deed of Trust in California Prevents the Legal Doctrine of Merger of Estates

Legal Updates, Real Estate Updates

 Under the legal doctrine of merger, as codified in California Civil Code section 805 and California Civil Code section 811, the owner of an estate in land cannot also hold an easement in the same land.  The rationale behind the two statutes is that holding an...
An Overview for Foreigners Purchasing U.S. Real Estate

An Overview for Foreigners Purchasing U.S. Real Estate

Legal Updates, Real Estate Updates

According to a recent survey conducted by the National Association of Realtors, for the 12-month period ending with March 2012, international buyers (“Foreign Nationals”) invested $82.5 billion in U.S. residential real estate, which equates to about 4.8% of total U.S....
New Commercial Lease Disclosure Requirements under the California Disability Access Laws

New Commercial Lease Disclosure Requirements under the California Disability Access Laws

Real Estate Updates

Starting July 1, 2013, commercial landlords will have a new duty to disclose to their tenants.  California Senate Bill 1186, which became effective September 19, 2012, was enacted to cut down on frivolous shakedown demands in litigation, in addition to increasing...
New Energy Usage Disclosure Requirement for California Commercial Real Estate Owners

New Energy Usage Disclosure Requirement for California Commercial Real Estate Owners

Legal Updates, Real Estate Updates

Beginning  July 1, 2013, all owners of non-residential commercial buildings with a total gross floor area of over 50,000 square feet shall be required to disclose the building’s energy usage information in the following circumstances: (1) A prospective buyer of...
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