California is slowly allowing remote online notarization, first through notaries from states that allow online notarization, then eventually through online notarization performed by California notaries. This means that California residents while in California can notarize documents online without a paper copy that is shuffled around the state, being lost in the mail or otherwise. Out … Read More
Co-ownership disagreements can easily boil over when multiple parties own real property, especially when one party has taken out loans without the consent of their co-owner(s). The remaining co-owners want to be sure that their equity in the property is still available to them even if their co-owner has encumbrances on the property, including mortgages, … Read More
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
Right to Encumber a Jointly Owned Property in California In a partition action, co-owners have already demonstrated that they disagree on what to do with a property. Tensions may rise when one co-owner voluntarily places an encumbrance on the property, such as a mortgage, or an involuntary encumbrance, such as a child support lien or … Read More
How is a Mortgage Different from a Trust Deed? A mortgage and deed of trust (otherwise known as a “trust deed”) are legal instruments in real estate that allow a lender to secure repayment of a loan. Although a mortgage and a trust deed serve the same purpose, the exact terms of both of each … Read More
How the Statute of Frauds Applies to Real Estate in California What is the Statute of Frauds under California Code of Civil Procedure § 1971? The Statute of Frauds is a legal doctrine providing that certain types of contracts are invalid unless they are produced in writing and signed by the party to be charged. … Read More
Title insurers often discover defects in transactions after escrow has closed. When this occurs, they regularly request that parties to a real estate transaction execute “corrective” trust deeds or grant deeds. However, parties should consult with counsel before doing so, as the title insurer may have a bigger problem on its hands than it is … Read More
Mortgage shotgunning threatens the classic rule of real property that a secured lender that has acquired his/her lien for value and without notice of earlier unrecorded interests in the property, maintains priority over the other interests if he/she records their trust deed first.
Mortgage Shotgunning Definition and How to Solve this Real Estate Fraud The article below appeared in the California Real Property Journal, the Official Publication of the Real Property Section of the State Bar of California. Volume 32, Number 2, 2014. Mortgage Shotgunning and the Priority of Trust Deeds (click for PDF) By Scott Talkov This … Read More
District Split is Ripe for California Supreme Court Review Mortgage Shotgunning The real estate fraud known as mortgage shotgunning or slamming occurs when real property is refinanced with multiple lenders within a short period of time, such that each lender lacks knowledge of the other lenders. The prior lender and homeowner, working in cahoots, then … Read More
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