By somebody | Fri, 09/22/2023 - 10:18 pm Public Group Extras UseSourceURLs Visibility Public Notification Off Printer-friendly version 100% first-year depreciation deduction on tenant improvements 6% interest rate payment cap for military extended through first year after end of service 90-day notice to quit due to foreclosure required through 2019 A gift: bonus vehicle depreciation deductions Arbitration provision in CC&Rs created before creation of homeowners’ association (HOA) is enforceable Arbitrator’s award names trust instead of trustees, award unenforceable Assignee barred from collecting on junior lien default after non-judicial foreclosure sale Bankruptcy: returning the risk to lenders Banks forgive phantom debt, homeowners face tax consequences Book Review: Real Estate Field Manual: An Official Selling Guide Broker management of trust fund account placement Broker responsibilities related to debarred licensees Buyer cannot claim first-time homebuyer tax credit on property vested in his LLC entity Buyer’s agent not entitled to a fee when full listing offer not accepted CEQA requirements for city or county projects Change the Law: Returning mortgage principal reduction power to bankruptcy judges Change the law: Discontinuing the CAL-VET program Change the law: Establishing a DRE Office Management endorsement, and an apprenticeship requirement for new sales agents Change the law: Establishing parameters and time periods for late charges on residential rentals Change the law: Foregoing needless political correctness in legislative language Change the law: Mandating the disclosure of an employing or corporate broker’s license number on all first-point-of-contact materials Change the law: Oversight of qualified intermediaries in §1031 exchanges Change the law: Real estate licensing for the industry’s “gray area” practitioners Change the law: Reestablish the DRE Code of Ethics Change the law: Reinstate California’s restraints on lender use of “due-on” clauses Change the law: Requiring a statement disclosing an SFR’s operating expenses Change the law: Requiring licensees to discuss known tax aspects of a transaction as part of their fiduciary duties Conditions for appointing branch office managers DRE broker licensing: new rule for education in lieu of experience DRE’s “good standing” definition includes two-year grace periods Deduction requirements for energy efficient commercial buildings modified Disputes over easement maintenance costs can be resolved in small claims court Do the Libor arrests herald justice? Documents and fees required in the sale of interest in a CID Easements remain after property tax sale Eligibility for solar water heating system rebates Equal access to HUD programs for lesbian, gay, bisexual and transgender (LGBT) individuals Equitable easement granted regardless of length of use or lack of monetary compensation Exclusive senior-only housing zoning not a violation of FHAA February 2012 LWs First-time homebuyer tax credit not available with an entity vesting For cramdown, principal residence status on filing controls, not later conversion to rental Foreclosure of service members’ property prohibited during nine months after service Guarantor not liable for loan deficiency when event causing loan to become recourse is not triggered HUD acts to house lesbian, gay, bisexual and transgender (LGBT) people Improvement district invalid due to inaccurately weighted votes January 2012 LWs Landlord may refund security deposit electronically Landlord must notify tenant of right to reclaim personal property Landlords may not favor surgically altered pets Legislative Gossip Lender has no security interest in arbitration award which was not intended as security Licensee duty to self-report disciplinary actions Low-income housing programs must obtain DUNS number and CCR registration to report federal funding Maintenance of property acquired by foreclosure March 2012 LWs Maximum fee increased for recording real estate documents More tenant protections for abused elders and dependent adults New disclosure required in residential purchase agreements: gas and hazardous liquid pipelines New energy efficiency standards for building construction New law fines owners of blighted foreclosures (we’re looking at you lenders) No eviction on unpaid rent due while successor landlord fails to provide rent payment information No failure to disclose when information is not known No legal action necessary to obtain a prescriptive easement No up-front fees for mortgage loan modifications Nonresident ownership of California income property: withhold 7%? Notice of right to reclaim personal property revised Notice of tenant’s rights in foreclosure Private mortgage insurance limit cap lifted Procedure for disputing the sale of tax-defaulted property Prohibited discriminatory practices allowed for roommate selection Proposed uniform mortgage billing statement will help borrowers Real estate licensees and appraisal management companies may not improperly influence appraisers Rent control barred from decreasing rent without evidence the landlord profited on reduction of services Rent or security deposit payments not restricted to electronic funds transfer or cash Residential landlords must disclose a notice of default to potential tenants Rules for individual DRE licensees using nicknames Servicers must assist underwater military members ordered to relocate Shiller: cramdowns are the cure Standardized solar rooftop permit fees Stricter recording and notification requirements for lenders foreclosing on CID units Tenants retain rights on FHA foreclosures, and more Terms and statements fulfilling real estate license designation requirements The fate of arbitration The morality of strategic default: businesses vs. homeowners The uneven recovery Three trust deeds, same property, same 8:00 AM recording, and separately indexed share same priority Title policy does not cover against local zoning encumbrances Trees obstructing view are considered a fence Trustee’s sale terminated ownership before bankruptcy petition filed Unruh Civil Rights Act protects genetic information first tuesday case in point: RESPA “no-new-service, no-second-fee” rule applies only to fee splitting Book traversal links for 2012 ‹ The enforcement of mechanic’s liens containing erroneous information Up 100% first-year depreciation deduction on tenant improvements ›