Title insurance

TITLE INSURANCE – Team up with your title company for a seamless experience

What is title insurance?A title insurance policy protects your legal rights over the property, occupancy, use, control, and disposition of the property.Why is it different to transfer title to property than it is to transfer different kinds of items such as a car?The transfer of property can be complicated because land is permanent but its use and the rights to use it can change over the years.What is a...

Spotting Red Flags

It’s All in the Details – SPOTTING RED FLAGS ON THE PRELIMINARY TITLE REPORT

TAXES: These are usually standard, showing the status of the current tax year.RED FLAG: Postponed property taxes. This is a state program for senior citizens. It allows the owner to postpone the taxes until the property is sold or refinanced. The owner applies to the state, and the state provides “checks” thatthe owner uses to pay the taxes. This is a red flag because escrow will need to order a demand...

Real Estate Fraud

Common Types of – REAL ESTATE FRAUD

The dream of home ownership remains one of the most important goals for many people. Unfortunately, real estate scams can steal these dreams and have a serious, long-lasting impact on the victims.Anyone can become a victim to real estate fraud. Below are examples of the most common types of real estate fraud. Keep in mind there may be completely legitimate real estate transactions with similar...

Easement

What Is an Easement?

An easement is an interest in the land of another which entitles the owner of such interest to a limited use or enjoyment of the land in which the interest exists.In owther words the right to use the real property of another without possessing it. The essential qualities of an easement are:An interest in land and usually created by grant or agreement and generally must be transferred and used subject to...

Understanding Probate

Everyone has a will or plan, whether created or by default. Even if you have not made out a will or a trust, you still have a plan – a plan dictated by the laws of the state where you reside upon your death. Making a will is not a way to avoid “probate”, the court procedure that changes the legal ownership of your property after your death. Probate makes sure it is your last valid will, appoints the...

Supplemental Property Tax

Understanding Supplemental Property Taxes

Supplemental Property Tax DefinedState law requires the Assessor to reappraise property upon change in ownership or completion of new construction.Types of changes in ownership are those changes involving a buyer and seller. However, change in ownership situations also include removing or adding someone’s name from title even if money is not exchanged.Typical new construction events include adding square...

Propositions

What are California – Propositions 60, 90, & 110?

What are Propositions 60 and 90?Propositions 60 and 90 are constitutional initiatives that provide property tax relief for persons age 55 and older. The propositions prevent reassessment when a senior citizen sells his/her existing residence and purchases or constructs a replacement residence worth the same or less than the original residence. This allows the senior citizen to continue to pay approximately...

Property Taxes

Understanding Your Property Tax Bill

What is a mello-roos fee?A Mello-Roos fee is a separate charge on a property tax bill in addition to the 1% property tax rate allowed by Proposition 13. The funds are used exclusively to pay for public facilities such as police and fire departments, schools, parks, roads and libraries, etc.How are mello-roos assessment fees established?Mello-roos fees are normally established at the request of a major...

What Is a Mechanics’ Lien?

California Mechanics’ Lien LawCalifornia law provides special protection to contractors, subcontractors, laborers and suppliers who furnish labor or materials to repair, remodelor build your home. The law allows contractors, subcontractors, laborers and suppliers to record a mechanics’ lien to ensure payment. If any of these people are not paid for the services or materials they have provided, the lien...

Hero Program

What is the HERO Program?

How Could It Affect My Closing? What Does “HERO” Stand For?HERO is an acronym for Home Energy Renovation Opportunity. HERO partners with local governments to make energy efficient, water efficient and renewable energy products more affordable for homeowners.Program EligibilityProgram eligibility requirements may vary in each city or county. In accordance with California law, the Program maintains...

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