What is Tenancy in Common?
Talkov Law
by Scott Talkov
5d ago
California recognizes different forms of property co-ownership, the most common and default of which is tenants in common. California Civil Code 682 recognizes “ownership of property by several persons” in these forms: (a) Of joint interest. (b) Of partnership interests. (c) Of interests in common. (d) Of community interest of spouses. This article specifically focuses on tenants in common as the default form of co-ownership interest that is “owned by several persons, not in joint ownership or partnership.”[1]California Civil Code 685 Types of Co-Ownership in ..read more
Visit website
My Co-owner is Not Paying the Property Taxes
Talkov Law
by Scott Talkov
2w ago
It’s not uncommon for one co-owner to bear the brunt of property taxes, especially in scenarios where one co-owner resides on the property while others do not. An issue arises when this arrangement leads to a disparity in financial contributions for maintenance and obligations tied to the property. Implications of Financial Distress The failure of a co-owner to contribute their share towards property taxes is often an indicator of financial distress, which can set off a chain of consequences detrimental to the property itself and the relationship between the co-owners. The consequence, as exp ..read more
Visit website
What Does a Notice of Private Sale Mean in a Partition Action?
Talkov Law
by Partition TalkovLaw
2w ago
A notice of private sale in a partition action is a required notice that the partition referee is likely to be marketing the property to the public to ensure it sells for fair market value. Since the word “private” seems to suggest something other than the public marketing as though a backroom deal is occurring, this article explains this confusing confusing term in the partition statutes. Notice of Sale is Required The California partition statutes provide that: “Notice of the sale of real or personal property shall… be given to every party who has appeared in the action and to such other in ..read more
Visit website
How to Get a Default Judgment in Partition Action
Talkov Law
by Partition TalkovLaw
2w ago
When defendants in a partition action ignore the summons and complaint, the plaintiff is entitled to obtain a default judgment ordering that the property be partitioned, usually by a forced sale. Indeed, some co-owners fail to respond to attempts to discuss the use, management, or sale of the property. When this occurs out of court, it can lead to a frustrating deadlock. However, when this occurs after a partition is filed, it can lead to a swift resolution when handled by an experienced partition attorney. What is a Default Judgment? Pursuant to California law, a “default judgment is entered ..read more
Visit website
Partition Lawyer: What do they do?
Talkov Law
by Scott Talkov
2w ago
A partition attorney plays a pivotal role in navigating the intricacies of ending real property co-ownership relationships, offering legal representation and strategic advice to secure a fair and equitable outcome for their clients. If discussions about managing the jointly owned property are not being taken seriously by your co-owner, retaining a partition attorney equips you with the necessary legal expertise and strategy to effectively manage the partition process. This article outlines what a partition attorney does to complete a partition action. Writing a Demand Letter An attorney may s ..read more
Visit website
Scott Talkov Quoted in the Daily Journal on Real Estate Law
Talkov Law
by Partition TalkovLaw
3w ago
Talkov Law President Scott Talkov was quoted by California’s leading daily legal publication, the Daily Journal, on the recent national settlement that changes the way that Realtors are paid. Specifically, the National Association of Realtors (NAR) agreed to pay $418 million to settle a nearly $5b judgment awarded by a jury in an anti-trust case alleging that sellers were required to pay artificially inflated broker commissions by compensating the buyer’s agent. The Daily Journal sought the perspective of Scott Talkov for his insights on how the NAR settlement will impact the real estate indu ..read more
Visit website
Can We Use a Realtor as the Partition Referee?
Talkov Law
by Scott Talkov
3w ago
While the simple answer is “yes,” the reality of a Realtor serving as a partition referee for a partition action is nuanced and warrants a deeper understanding of the pros and cons of using a Realtor for this function. In turn, this requires an understanding of the responsibilities that partition referees execute. A Realtor, with their expertise in the real estate market, might seem like a suitable candidate for this role, however, there are several factors to consider before proceeding down this path. What is a partition referee? Pursuant to Code of Civil Procedure § 873.010(a), the court ap ..read more
Visit website
Affidavit of Death of a Joint Tenant (Probate Code § 210)
Talkov Law
by Scott Talkov
3w ago
The fundamental rule of joint tenancy is the right of survivorship, by which the public learns about the current ownership through a recorded affidavit of death of joint tenant. This article explains joint tenancy and what to do when a joint tenant dies. What is Joint Tenancy? Joint tenancy, also known as joint tenancy with right of survivorship or JTWROS, “requires unity of interest, unity of title, unity of time, and unity of possession.”[1]California Tr. Co. v. Anderson (1949) 91 Cal. App. 2d 832, 836. “The distinguishing characteristic of a joint tenancy is that each tenant has a right of ..read more
Visit website
Rising Interest Rates on Co-Owner Buyouts in a Partitions
Talkov Law
by Scott Talkov
1M ago
The rise of interest rates that started in mid-2022 is a common concern tor co-owners considering a partition action to end their co-ownership of real property. This is because co-owner buyouts, as are common outcome of a partition action, can be harder to accomplish when the buying co-owner must borrow money at a higher interest rate. When this hurdle is added to the fact that the income of selling co-owners will be removed from the equation, many partitions will end in a sale as neither co-owner can afford the property on their own. What Happens When You Refinance at a Higher Interest Rate ..read more
Visit website
Is a Majority Vote Needed to File a Partition Action?
Talkov Law
by Scott Talkov
1M ago
No. A common misconception is that a majority of the ownership interests are needed for a court to compel the sale of a jointly-owned property in a partition. This belief is entirely incorrect. Any owner, regardless of their ownership percentage, can initiate the sale of the property, whether they hold 99% or merely 1% of it. In California, the right to partition is absolute, meaning any co-owner can file irrespective of their ownership share. Partition is an Absolute Right In California, “a cotenant is entitled to partition as a matter of absolute right; that he need not assign any reason fo ..read more
Visit website

Follow Talkov Law on FeedSpot

Continue with Google
Continue with Apple
OR