Uncategorized
New Executive Order Aimed at Fixing Homeowners’ Insurance Issued in California
On September 21, 2023, a new Executive Order granting authorization to the Insurance Commission was issued by California’s Governor with the stated goal of addressing the state’s shrinking insurance market, primarily due to the rising risk of wildfires. Major insurers, like State Farm and Allstate, have stopped issuing new policies in California, while Farmers imposed…
Read MoreCase of the Month – Maarten et al. vs. Cohanzad et al.
In general, local municipalities control what can be built in their communities. These local rules, however, can be limited or powers checked by state laws that regulate in the same area. One such rule in California is called the Ellis Act and it allows developers to take housing off the rental market if they follow…
Read MoreCalifornia Getting 56 New Housing Laws
California’s legislative cycle is ending with a bang this year when it comes to housing. To that end, the Governor signed into law 56 new bills intended to address California’s housing crisis, with the hope that this will incentivize buyers, reduce barriers to housing, and support the development of more affordable homes. The bills are…
Read MoreCase of the Month – The Estate of Frank J. Sanchez
The central issue in the appeal of this case is whether an executor (and personal representative of an estate) can act without an attorney in legal proceedings, in this instance, for the partition by sale of real property owned by the estate. This case involves the probate of the estate wherein the decedent died in…
Read MoreU.S. Treasury Department Considering Expansion of GTOs
The U.S. Treasury Department is reportedly close to proposing a rule that will require that real estate professionals such as title insurers report the identities of cash-purchasing real estate owners to the Treasury’s Financial Crimes Enforcement Network (FinCEN). The proposed rule, which was first discussed by Treasury officials in 2021, would effectively end anonymous luxury-home…
Read MoreFinally: California Passes Remote Notarization Bill
Need a document notarized? With the passage and signing of Senate Bill 696, California is starting the process of finally offering remote notarization services to the public. What is the difference between traditional and remote notarizations? In a traditional notarization, the signer and a Notary are required to physically meet face-to-face. The signer produces a…
Read MoreCan We Train Technology to Comply with Fair Housing Laws?
Artificial Intelligence (“AI”) has become a driving force in our world today, even in its early stages, and provides both companies as well as consumers with powerful and highly effective tools for managing, analyzing, and collaborating with large amounts of data. Search engines, music apps such as Spotify, YouTube, ads, cell phones, and even your…
Read MoreFinCEN Gets More Authority Over Entities Under New Corporate Transparency Act
On January 3, 2021, Congress passed the National Defense Authorization Act (NDAA) over a veto by the President. Contained therein was the authorization of the Corporate Transparency Act (CTA) which creates reporting requirements to the Federal Government for many entities. At the Federal level, and under the purview of the Department of the Treasury, the…
Read MoreCase of the Month MES Investments, LLC v. Dadson Washer Service, Inc.
Case of the Month MES Investments, LLC v. Dadson Washer Service, Inc. MES Investments, LLC (“MES”) purchased a 22-unit apartment complex in West Hollywood in February 2017 that included a laundry room facility. The space for the laundry room was leased to Dadson Washer Service, Inc. (“Dadson”) back in March of 2002 by the previous…
Read MorePhase Out of LIBOR Expected in 2021
The Board of Governors of the Federal Reserve System, the Office of the Comptroller of the Currency, and the Federal Deposit Insurance Corporation issued a statement earlier this month encouraging banks to transition away from the U.S. Dollar (USD) LIBOR as soon as practicable. The target date for transition is the end of 2021 though…
Read More