An assumable mortgage is one where the buyer assumes the existing mortgage of the seller. When the mortgage is assumed, the seller is often no longer responsible for the debt. As it relates to co-ownership, the buying co-owner would thus assume the full liability for the mortgage, thereby relieving the selling co-owner. One reason buyers … Read More
The Uniform Partition of Heirs Property Act (UPHPA) was a law that was enacted January 1, 2022. It was originally introduced into California’s legislature as Assembly Bill No. 633 and was signed by Governor Gavin Newsom signed in July 2021. The UPHPA provided defendants in a partition action added opportunities to buy out their co-owners. … Read More
Formerly known as the Uniform Partition of Heirs Property Act The Partition of Real Property Act in California is a newly-implemented law that expands upon the Uniform Partition of Heirs Property Act to give non-partitioning parties additional opportunities to buy out their co-owners. Essentially, the Partition of Real Property Act creates a right of first … Read More
Prior to California’s enactment of SB 9, also known as the California HOME Act, a single-family home in a partition action would almost certainly be sold since division of the property would not be allowed under zoning laws requiring certain lot sizes. However, SB 9, which became effective in 2022, mandates that cities approve certain … Read More
California Code of Civil Procedure 874.323 is the California partition statute explaining e-signatures under the California Partition of Real Property Act: This act modifies, limits, and supersedes the Electronic Signatures in Global and National Commerce Act (15 U.S.C. Sec. 7001 et seq.), but does not modify, limit, or supersede Section 101(c) of that act (15 … Read More
What is a Right of First Refusal in a Partition Action? In a California partition action, a right of first refusal is a right given to co-owners that allows them to purchase their other co-owners’ interests before the property is sold to a third party. This gives all co-owners a chance the resolve the co-ownership … Read More
California Code of Civil Procedure 874.321 is the California partition statute that describes what details of the sale of the property are required to be submitted to the court under the California Partition of Real Property Act. The statute provides that: (a) A broker appointed to offer property for open-market sale shall file a report with the … Read More
California Code of Civil Procedure 874.314 is the California partition statute that explains partition alternatives under the California Partition of Real Property Act. The statute provides that: (a) This act does not limit or affect the method by which service of a complaint in a partition action may be made. (b) If the plaintiff in … Read More
California Code of Civil Procedure 874.318 is the California partition statute that explains partition alternatives under the California Partition of Real Property Act. The statute provides that: (a) If all the interests of all cotenants that requested partition by sale are not purchased by other cotenants pursuant to Section 874.317, or if after conclusion of the … Read More
California Code of Civil Procedure 874.316 is the California partition statute that sets forth the manner in which the fair market value of the property. In conjunction with a co-owner buyout of interests under Code of Civil Procedure 874.317, these statutes form the essence of the Partition of Real Property Act. (a) Except as otherwise … Read More
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