Governor Gavin Newsom signed AB3088 on 8/31/20, setting forth guidelines for California residential landlords in order to preserve the right to later claim unpaid rent and/or evict tenants for unpaid rent, while protecting tenants demonstrating COVID-19 related financial hardship. The new law requires landlords who intend to seek damages from residential tenants who have missed … [Read more...] about Residential Landlords Required Under AB3088 to Send Tenants Notice
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Coming here soon: A clearinghouse for resources and information about accessory dwelling units (“ADUs”)
Recently, I was talking with a couple of friends who work as inspectors with two municipal building departments on the Peninsula. We were discussing SB 1069, enacted in 2016 in order to encourage construction of additional housing units on residential property that has already been developed—these so-called “in-law” or “granny” units, denominated as accessory dwelling units … [Read more...] about Coming here soon: A clearinghouse for resources and information about accessory dwelling units (“ADUs”)
Federal government expands high-priced residential real estate reporting obligations aimed at combatting money laundering
As property values keep rising in the San Francisco Bay Area and Silicon Valley at unprecedented rates , we continue to see how this phenomenon affects our area in a variety of different ways. I have written in my blog on a number of prior occasions regarding both the positive and negative impacts that these high real estate costs are having upon our community. It would now … [Read more...] about Federal government expands high-priced residential real estate reporting obligations aimed at combatting money laundering
New consumer mortgage disclosure rules come up short for loan products
Loan Products that banks choose to offer In November 2013, pursuant to the Dodd-Frank reforms passed by Congress in the wake of the financial crisis, the Consumer Financial Protection Bureau (“CFPB”) adopted regulations integrating the disclosure mandates of the Real Estate Settlement Procedures Act (“RESPA”) and the Truth in Lending Act (“TILA”). The new integrated … [Read more...] about New consumer mortgage disclosure rules come up short for loan products
Easier real estate transfers adopted by California
Real Estate Transfers Effective January 1, 2016, Californians may avail themselves of a new method for transferring real property assets upon death. Under a new law adopted in 2015, owners of California real estate may hold title to their property under a revocable transfer on death deed (“revocable TOD deed”), which allows the property to pass to designated recipients on the … [Read more...] about Easier real estate transfers adopted by California