Month: December 2020

What to Look for in a San Diego Real Estate Litigation Lawyer

With different contracts involved in real estate transactions, it’s highly possible for homeowners and property owners & sellers to encounter litigation. Let’s take a look at common causes of real estate litigation and if you’re in San Diego, what to look for when hiring a lawyer to help with your case.

Common Causes of Real Estate Litigation

Real estate disputes and challenges can be caused by the following.  

Breach of Contract

In real estate transactions, typically two parties will have reached an agreement or contract which can include agreements with respect to purchase, sale, partnership, a lease or other agreements. When one or more parties fail to uphold their end of the contract, whether the agreement was oral or written, a lawsuit can arise. In a case claiming breach of contract, the plaintiff needs to prove that they have upheld their contractual duties, while the defendant has failed to perform the contract’s terms. The wronged party may receive compensation for the damages and losses they endured because of the breach.

Negligence or Breach of Duty

Real estate agents must provide buyers with what they need to make an informed decision regarding the purchase. By law, real estate agents are required to work to benefit the client and their best interests—this includes disclosing information relevant to the purchase and keeping client information confidential. Failure to fulfill due care and not taking appropriate action can lead to a lawsuit. 

Failure to Disclose Property Defects

Thorough inspection of a property is required to help buyers make an informed decision. In California, residential property sellers are required by law to disclose the property’s condition and defects. These include structural defects or even if a death occurred at the property within the last three years. Without thorough documentation and failure to disclose property defects to a potential buyer can lead to litigation.

Boundary Disputes

Another common cause of real estate challenges includes boundary disputes. This type of dispute may arise between neighbors and involve misunderstandings regarding property lines. One way to prevent or resolve boundary disputes is to order a survey which accurately reflects the boundary lines. In some cases the owners can resolve the dispute with a quiet title action, which asks the courts to determine the property’s boundary lines.

Choosing Your Real Estate Attorney

There are other real estate disputes that can arise and it’s best to be prepared in all cases. A real estate attorney can help you prevent these disputes. If you’re already facing litigation, it’s important to choose an attorney that has the expertise, creative approach, and cost-effective solutions you need. 

Experience & Expertise

Whether the property is commercial or residential, look for a real estate attorney or law firm that has the expertise to handle your case. As a boutique law firm, Hoffman & Forde has access not only to real estate attorneys but also a group of professionals across multiple industries. 

Creative Approach

While creativity may be the last thing you look for in an attorney, it’s important to recognize that each case will be unique and will then require a unique approach. Our accessible team at Hoffman & Forde does just that.

Cost-Effective Solutions

You’re already investing a considerable amount of time, money, energy, and other resources to secure your property. Choose a law firm that provides clients with the most cost-effective solutions possible. 

 

Your San Diego Real Estate Litigation Attorneys

Resolve your case effectively with our commercial and residential real estate attorneys at Hoffman & Forde. Schedule a consultation today to see how we can help.

Estate Planning Terms to Know

A Brief Glossary of Terms

As part of wise financial planning, estate planning is something everyone should consider even for those who do not have a lot of assets. To help get you get started, here are some common terms you may encounter.

Administration

Court-supervised process wherein the executor or representative collects and distributes an estate during probate. 

Assets

Property or anything that you own. This includes real estate, your home, investments, jewelry, and other valuables & collectibles.

Beneficiary

The beneficiary is the person or organization who receives the trust assets in the case of a living trust. 

Codicil 

An amendment to the terms of a will where no rewriting is necessary.

Deed

A deed is a physical document that declares your legal ownership of a property, and also allows you to transfer that property ownership to another person.

Durable Power of Attorney

If you become incapacitated, durable power of attorney directs an individual of your choosing to make financial and medical decisions on your behalf.

Executor

Also called a personal representative, the executor is the person named in a will. They are appointed by court to administer the deceased’s estate. Females may be referred to as the “executrix.”

Fiduciary

Associated with trusts, fiduciary describes the relationship between the trustee and beneficiary. A fiduciary is also legally charged to act on behalf of another person or persons, taking care of their assets.

Grantor

The grantor is the creator of the trust. Also known as the settlor, donor, or trustor. 

Heir 

An heir is entitled by law to receive your property or asset if there is no will.  

Holographic Will

A document entirely handwritten and signed by the testator.

Irrevocable trust 

As the name suggests, this type of trust cannot be terminated, revoked, or amended by the grantor.

Joint tenancy 

This refers to equal joint ownership of a property by two or more persons, and creates a Right of Survivorship.  

Living Trust

A written legal document that creates an entity to which an individual transfers ownership of their assets. This document is created during the individual’s lifetime and is not subject to the public probate.

Marital Trust 

Also known as an “A” trust, this type of trust lets you transfer your assets tax free to your surviving spouse in the event of your death. 

Power of Attorney

This is a written authorization whereby one individual may act on behalf of another as an agent when it comes to legal and financial matters. Terminates upon the death of the person granting authority, unless “coupled with an interest.”

Probate

The legal process of authenticating a decedent’s will, taking inventory and appraising the estate, and distributing the assets according to the decedent’s last wishes. If there is no will, the process for probate remains the same. In this case, probate is still required to pay any outstanding bills and distribute the assets to the designated beneficiaries.

Revocable trust 

A revocable trust can be terminated, revoked, modified, or amended by the grantor.

Special Needs Trust 

This is a specialized trust that allows a disabled individual to supplement benefits the person with special needs may receive from government financial aid. 

Trust 

A trust is a fiduciary relationship in which a trustor gives another party (the trustee) the right to own and manage property for the beneficiary.

Will 

Wills take effect after your death and they lay out your final wishes for how to dispose of your property.

Your Southern California Estate Planning Attorneys

While this list is by no means extensive, we hope that these terms piqued your interest when it comes to estate planning. More importantly, we encourage you not to wait until you are ill or incapacitated to prepare your loved ones for the future. To help you factor in all outcomes and for solid legal advice, our experienced Southern California estate planning attorneys at Hoffman & Forde are here to help.

When you invest resources towards estate planning, you’re investing in peace of mind. Our boutique law firm has experts across disciplines and relevant industries to make sure all your bases are covered. We tailor your estate plan to you and your goals with our creative solutions and collaborative approach. Call us today for a consultation.