Welcome to the Legal Section of C.A.R. Online, where REALTORS® legal needs are met with the latest information and legal updates. Look below for the latest legal news during the last two weeks. You'll see Regulatory News, new Realegals®, and What's Hot announcements.
Attorney Outreach Calendar C.A.R. attorneys visit real estate offices and local associations throughtout the state providing an opportunity for a live discussion of current legal issues as well as training sessions on the use of new C.A.R. standard forms.
Oct. 9, 2015 (revised) Legal Article: A “fictitious business name” is the name a person uses to conduct business if not using his/her own legal name. A business using a fictitious business name can accept payments, advertise and otherwise communicate under that name. Using a fictitious business name also permits a single legal entity such as a corporation or an LLC to operate multiple businesses without creating a new legal entity for each business.
Oct. 9, 2015 (revised) Legal Article: The Good Faith Estimate (GFE) and HUD-1 disclosures are intended to give borrowers sufficient information to permit shopping for the best possible loan terms and closing costs. Yet, since the passage of RESPA (Real Estate Settlement Procedures Act) 35 years ago, the GFE has been a disclosure without any clear binding effect. Now the Department of Housing and Urban Development (HUD) has promulgated new regulations mandating revised GFE
Beginning October 3, 2015 the TILA-RESPA Integrated Disclosures (TRID) will supersede the Good Faith Estimate (GFE) and HUD-1 Statement forms for most closed-end, consumer credit transactions secured by real property. In place of the GFE and HUD-1 there will be two new forms.
Oct. 1, 2015 (revised) Legal Article: This Q&A will review the various issues surrounding the landlord’s ability to restrict a tenant’s ability to keep pets and possible liability issues when pets are allowed and has been updated as follows:
Question 9 Added discussion of C.A.R. Pet Addendum (form PA).
Question 13. Added mention of pending regulations on service and support animals.
Sept. 30, 2015 (revised) Legal Article:Improving water and energy efficiency and adding renewable energy features (conservation improvements) to a home are goals of many California homeowners to both reduce utility bills and help the environment. Solar panels and energy efficient furnaces are examples of the types of conservation improvements many homeowners make which can serve both goals.
This Q&A will look at two common ways for homeowners to install conservation improvements: PACE financing for residential one to four units and solar leases. The Q&A will also specifically address the financing and transactional issues that arise from a homeowner’s use of these programs.
WA Southwest 2, LLC v First American Mak v City of Berkeley Rent Stabilization Board and Ziem Edwards v The First American Corp Voss v Commissioner of Internal Revenue Long Beach Brethren Manor Inc. v Leverett T & A Drolapas and Sons LP v San Francisco Residential Rent Stabilization and Arbitration Board et al., and Gerald Borjas Carr v Rosien Olive v Commissioner of Internal Revenue Wong v Stoler»
Aug. 21, 2015 What's New: Tamara Tikal, 45, of Rio Vista, California, was sentenced on July 16, 2015, to three years and nine months in federal prison for her conviction for conspiring to commit mail fraud in relation to a foreclosure rescue scam. Tamara Tikal was also ordered to pay $3,671,000 in restitution to victims of the offense.
Aug. 19, 2015 (revised) Legal Article: Beginning October 3, 2015, the Good Faith Estimate (GFE), the HUD-1 and the Truth-in- Lending Act (TILA) disclosures will be replaced in most transactions by two new forms – the Loan Estimate and the Closing Disclosure.
Aug. 13, 2015 (revised) Legal Article: The standard forms published by C.A.R. for use in real estate transactions are protected by copyright law. To insure the value of the copyright is preserved, C.A.R. vigorously pursues and prosecutes persons who commit copyright infringement on the standard forms. Occasionally, persons inadvertently commit copyright infringement because they lack an understanding of basic copyright law. Therefore, to clarify the application of copyright law to C.A.R.'s standard forms and to avoid unnecessary prosecutions, the following questions and answers address the main questions that arise with respect to copyright law and C.A.R.'s standard forms.»
Aug. 12, 2015 (revised) Legal Article: This legal article discusses the requirement under federal law that a buyer withhold funds equal to 10 percent of the sales price in certain types of sales, and send the amount withheld to the Internal Revenue Service (IRS) at the close of escrow. The federal law is called the Foreign Investment in Real Property Tax Act (FIRPTA). The questions and answers that follow are based mainly on Internal Revenue Code §§ 1445 and 879, and regulations issued by the Treasury Department.
Legal Q&As -
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