At the DiJulio Law Group, it is our mission to educate our clients on their personal property rights, whether they are lenders, borrowers, or anyone else with a vested interest in real estate. Today, we want to go over a few essential California real estate laws that everyone should be familiar with.
All Contracts Need to Be Formally in Writing
Any agreement that involves property, whether that is a sale, a rental lease, a commission agreement, and more, needs to be in writing. While an attorney for each party isn’t strictly required, we highly advise everyone to run the contract by their own personal legal counsel to ensure that you aren’t signing on to unfavorable or disadvantageous terms.
Evictions Always Require a Proper Notice
When it comes to evicting a troublesome tenant, the process is much more complicated than simply asking them to leave. Evictions are complex legal procedures that require a formal process, any deviation from this process could make it impossible for you to rid yourself of your pesky tenant.
Property Defects Need to be Disclosed Before a Sale is Finalized
Sellers need to be fully upfront with any problems or defects with the property, and let prospective buyers in on the details before the sale is concluded. This includes structural damage, mold issues, termite infestations, and deaths that may have occurred within the premises of the property.
Abandoned Property Becomes Government-Owned After Three Years
Property that becomes abandoned in California is classified as “unclaimed property.” As per CA law, the state automatically takes possession of all unclaimed property after three years. This is why it’s important for invested parties to make claims on any abandoned property before the 36 month period passes.
Want to Learn More?
Remember, these are just some of the laws that we recommend you familiarize yourself with. The specifics can vary depending on your individual circumstances, and the best way to get qualified legal advice is to speak with a trusted real estate attorney in CA.
At the DiJulio Law Group, we offer free initial consultations! Feel free to call us at your earliest convenience to schedule your appointment, no commitment required. You can reach us at (818) 502-1700.