What is the Transfer Tax Rate for the City and County of San Francisco?
If entire value or consideration is: More than $100 but less than or equal to $250,000, the tax rate is $2.50 for each $500 or portion thereof; More than $250 but less than $1,000,000, the tax rate is $3.40 for each $500 or portion thereof; $1,000,000 or more but less than $5,000,000, the tax rate...
Assets Subject to California Probate
Assets Subject to California Probate Following a death, you may find yourself looking for guidance about how to deal with all of the “stuff,” all of the estate assets. Sometimes it is easy to deal with the small things. Your daughter gets dad’s guitar and your son gets dad’s carved mahogany bar, done and done. But who...
Negotiate Your California Property Taxes
Recovering From the Shock Odds are that you just received notice of proposed assessment in the mail and, after a stiff belt from the closest bottle to calm your nerves, you popped online to see if there is anything you can do to lessen the burden. The good news is that you can appeal your...
Short Sales and Deficiency Judgments Under the New Rules in California
On July 11, 2011, the governor signed a new law that prohibits second and third mortgage holders from pursuing deficiency judgments after they have agreed to a short sale. This amends California Code of Civil Procedure Section 580e which prohibited the same practice by holders of first mortgages. Deficiency Judgments If a lender forecloses on...
How Do I Know If I Have a Passive Activity Loss?
What is a Loss From a Passive Activity Many people think that owning rental property is one of the best ways to hold an appreciating asset while generating losses for tax purposes. This is true in some circumstances, but many investors are in for a rude shock after they purchase the property and attempt to...
San Francisco Assessor Seeks Increased Penalties for Failure to File PCOR
If you have tried to record anything in California recently (e.g. a deed on that stone house you recently purchased), you have no doubt run across the requirement that almost everything that crosses the desk at your county’s office of the Recorder must be accompanied by a Preliminary Change of Ownership Report (PCOR). The name implies this...
Why You Need a Real Estate Attorney in San Francisco
Why do you need a San Francisco real estate lawyer? The purchase and sale of real property is a complicated process full of potential pitfalls. If you are involved in a real estate transaction involving residential or commercial property, it is in your best interest to hire an attorney. Experienced legal counsel can end up saving...
Commercial Real Estate Law & LLCs
The world of commercial real estate transactions financing is fraught with legal pitfalls, a fact that has been duly reported time and time again since the end of the “boom” in late 2007. Lower valuations, impinged cash flow, government action, and general economic distress have, and will continue, to affect commercial real estate in San...
