Jingle Mail And California Law – Giving The Mortgage Back To The Bank

If you owe $ 800,000 on a $ 550,000 house, and give the bank the $ 550,000 house, can the bank then try to collect the $ 250,000 difference? Or to use the legal terminology, can the bank seek a deficiency jurisdiction?

The answer, in California, is probably not. California Code of Civil Procedure §580b states:

No deficiency jurisdiction shall lie in any event after a sale of real property or an estate for years therein for failure of the purchaser to complete his or her contract of sale, or under a deed of trust or mortgage given to the vendor to secure payment of the balance of the purchase price of that real property or estate for years therein, or under a deed of trust or mortgage on a dwelling for not more than four families given to a lender to secure repayment of a loan which was in fact used to pay all or part of the purchase price of that dwelling occupied, entirely or in part, by the purchaser.

In plain English, this means California is for most homeowners a non-recourse state when it comes to "purchase money mortgages." These are mortgages, including in some cases second mortgages, that were taken out in order to purchase a house that the buyer actually lived in.

California's Anti-deficiency Laws: Who's Protected

Three major groups of California mortgage debtors are thus excluded from the protection of California's pro-homeowner CCP 580b:

(1) Investors who purchased homes in order to flip them without ever intending on living or renting in them

(2) investors who purchase a property as a rental

(3) homeowners who take on additional mortgage debt after purchasing their house.

California also has a second law protecting mortgage borrowers from their banks: CCP 580d. This law covers all housing debt, including HELOCs, home improvement loans, and 2nd mortgages, but the law only applies to non-judicial foreclosures. These creditors can still collect the remaining debt in a judicial foreclosure.

Anti-deficiency Laws in Practice: An Example

Here is a scenario showing how 580b and 580d work together:

Bob purchased a house with $ 0 down and a 500K interest-only mortgage. After the value of his house went up he took out a 2nd mortgage, on which he owes 100K. Now his house is worth 400K and has 600K in mortgage debt.

Let's say Bob stops paying and his house is foreclosed and sold for 400K. That leaves 200K in debt unpaid. The first lender gets all of the 400K, but can not get the 100K remaining that Bob owes.

The second lender now has a choice. It can just eat the entire 100K loss, or it can go the route of a judicial foreclosure. The bank probably will not do that if Bob has little assets and lots of debt, but if Bob has a high-paying steady job the lender just might try: $ 100,000 is a lot of money to lose.

In these circumstances, Bob's best strategy is probably to stop paying the 1st mortgage but to keep paying the 2nd. There are a lot of complicated rules and strict time limits involved with a judicial foreclosure. If Bob keeps paying lender 2 while he stops paying lender 1 and waits for lender 1 to foreclose, the chance of lender 2 noticing and undertaking the complicated judicial foreclosure process on time is lower than if Bob stiffs both lenders at the same time. Further, the amount owed to lender 2 will decrease as payments keep getting made, so the value of seeking a deficiency judgment decreases.

It's Best to Talk to a Lawyer First

Someone considering walking away from their mortgage but wants to protect his income and his other assets from his banks would best be advised to seek the assistance of a licensed California attorney who could advise them on a number of issues, such as:

– Can the bank use some other legal means of pushing its loss onto the former owner, for example under an equitable or tort theory? Assuming the bank tries, does it have any chance of winning?

– Does 580b protect a homeowner who bought a condo as an investment and rented it out for a year, then moved in itself, and then stopped paying the mortgage?

– What are the state and federal income tax consequences of a foreclosure?

Lawyers are not cheap, but the mortgage companies all have their own army of lawyers and collections personnel. Would you really want to go it alone against them?

Chicken races

There are hundreds of chicken breeds to choose from, whether you are looking for a pet, eggs or meat. Choosing a chicken for your flock from the back may seem difficult, with all the options in beautiful exotic, excellent layers of egg and dispositions there.

Upper grapes

Although all the chickens put eggs, not every day they will be placed every day from the day they are between four and five months, at 4 years. The balance with good layers of egg is that they generally do not like sitting down, so that fertilization and eclosion can not be possible without an incubator.

These are the upper layers of white eggs:

Ancona – nervous, wild

Anduliano: powerful, can be nervous

Catalina: shy, nervous

Hamburg – Nervous, shy

Netherlands: good disposition, kind

Lakenvelder – Beautiful race, nervous

Leghorn: noisy, nervous, shy

Menorca: a moderate disposition, can be kind but nervous

Redcap: wild and poor disposition

The brown upper brown layer is:

Australorp – Good disposition, kind

Java: friendly, exotic

My tooth Turkin – good layout

Plymouth Rock: good disposition, kind and docile

Rhode Island – aggressive

Delaware: good disposition

Dominique: good production and personality of children, also calls

Sussex – Good willingness, kind

Wyandotte: a layer of choice for your sympathy.

Best breeds for meat

The primary goal of meat production is the hens that had a little weight in the first sixteen weeks of life. For most, because they are not expected to be long-lived, the personality of the breed is not as important as with the layers of eggs that are treated daily for years. The good breeds producing meat are:

Cornish – Poorly poor layers with fine feathers and protected from cold

Cornish Cross: fast-growing hybrid, but with heart attacks and broken legs

There are many chickens that are good double-purpose agglomerations for meat and eggs. Some of these are shown below and, in general, have fewer eggs than the layers of. Most of these breeds will put between 4 and 5 eggs per week.

Brahma: very nice to see, even if it is not a top layer, this chicken places a respectable amount of eggs and also makes a great pet.

Buckeye: A race of heritage

Catalina – A double purpose bird that is also a top layer.

Araucana

Australorp

Barnevelder

Delaware

Dominique

Dorking

Netherlands

Yellow yellow

Orpington

Plymouth Rock

Wyandotte

Whether your intention is to lay eggs or meat, the variety of breed options can be daunting.

Rations for domestic or ornamental animals

If you intend to spend time with your chickens, the arrangement is important. Aggressive birds can make the game pick up a challenge. The disposition of the race is even more important if the children participate.

The headquarters are, by far, the most popular pet race. However, they must remain warm and dry. Your feathers are more than feathers that feathers, actually. After getting wet, they are instantly opened.

These cute little bantams are fun to watch and they are very good pets. They have no problem with young children or the adults who take them. They will also put on the eggs and, if feasible, tend to take care of the nest very carefully. Eggs are so good to eat as any egg of chicken, they are about 1/3 of the size of a normal egg.

Other ornamental grape species are:

Cochin – Both the lake and the Bantam Cochines are considered ornamental, but they are fair layers. They are very docile and beautiful with long feathers and a cascading tail. Their feathers make them see twice what they really are. Feathers go down to the toes.

Phoenix – Long tail feathers that require special ironing conditions – very beautiful

Serama – A small miniature chicken perfect. Strong and proud position in a two or three pond pack. Very good layout.

Showgirls – These chickens have wet feathers in the body and the upper part of the head, but they have a naked neck.

Sizzle or Frizzle – These hens have curly or wavy feathers and seem to have been through a storm of wind.

Sultan: has a "hat" of vertical feathers – soft and soft

Yokohama: Another long tail race

Finding the right breed to fit your needs can be a daunting task, but it's worth the effort.



Source by Eric Moore

Commercial Real Estate Lending Trends in 2015 With Comparison to California

In March 2015, the National Association of Realtors (NAR) invited a random sample of 49,485 realtors who worked in commercial real estate to fill out an online survey. A total of 791 responses were received for an overall response rate of 1.6 percent. The survey queried realtors’ opinion of how they found their lending environment to be during that past year. Living and working in California, I find it interesting and informative to compare general results to survey opinions in our state. I think you will find it instructive, too. Without further ado, here are the opinions of the brokers and private lenders as mentioned state by state:

States that provided difficult lending situations

The National Association of Realtors (NAR) found that 58% of investors preferred approaching banks but not all banks were ready to lend. Of those that did, these traditional lending institutions aggravated the situation with clumsy procedures, irksome schedules and terms, and long drawn out processes. Few banks,too, exerted themselves to please their clients or to make the situation more comfortable for them.

Said a private lender in New York

Banks have been very aggressive to get deals financed.

Such a situation can be expected from a city like New York where banks have to be on their feet regarding delays and have had to cut back due to bad loans. Besides, New York is known for its aggressive and abrasive environment. Deficiency of empathy to clients is one of its sore points.

More unexpected has been the fact that genteel places such as Louisiana are reporting the same difficulties.

Said a local agent:

Banks are doing well but they make it hard to do business, and is hard to move forward in an environment like this. – Louisiana

And in North Carolina:

The money is cheap, but still very difficult to obtain. – North Carolina

Apparently, the banks place monopoly on investors and act like nefarious scrooges. Other investors had this to say:

The rules put in place for the big banks are handcuffing the regional and community banks. – North Carolina

Just refinanced 3 properties from $150,000 to $1,000,000. Low loan to value deals. – Colorado

Secondary market commercial financing terms are either so burdensome that it’s not worth the process, or terms so tough that purchasers do not see the value in financing and just pay cash for smaller commercial deals. – New Mexico

States who found the lending environment good

If you want to invest, you may wish to consider moving to one of these areas. There is less opportunity than in California. There may be a flatter market in place with distressed inventory and possibly less promise, but the banks are more eager to help investors.

There is plenty of money available for qualified buyers of commercial properties. – Texas

Financing has not been a problem with reasonable transactions. Massachusetts

States that provide a positive environment for commercial private lenders to work in

Lending conditions of banks in the majority of the states in 2015 have been frustrating for consumers which makes it an ideal situation for private money lenders such as hard money lenders who thrive on disappointed investors. Hard money lenders step in where banks fail with promises of convenience, solid attention, client comfort, fast hand-overs (think of receiving a loan in the same week as compared to a 60 days plus of the banks!) and far less paperwork. All you’d have to do is sign your name on a few forms and fill out details regarding the value of your property and your work, experience, and/ or credit background. Nothing major and far smoother than the banks. The underwriting, in short, is lovely. Even the loan-to-value structures in some places (particularly in California) has picked up with commercial private lenders now offering higher to full percentages.

The downside is the high interest rates and balloon payments (think of payments that are double as much as banks). On the other hand, shunned want to-be-investors may have no alternative.

Agents in Pennsylvania and Carolina lauded the private lending market:

Generally, entrepreneurs have vision and are way ahead of the cultural curve while banks operate seemingly in a closed cave and compensate for their lack of skill with aggressive rates and terms, or an unrealistic client process. – Pennsylvania

Carolina was more severe. One investor explained that he preferred the alternate sector because:

I think the banks have let down the entire country. They are mindless lemmings and have abandoned their role in the greatest economy. – North Carolina

These agents in Georgia, Carolina and Illinois, for instance, who were let down by their banks may have no choice but to seek out private commercial lenders especially if they want to invest.

Illinois: Commercial funding is a problem. I have a great property on the market for 1 year and no takers.

Another commented that banks are

Slow in processing loans. Abnormal waiting time to be funded. – Illinois

North Carolina: Commercial land loans almost non-existent.

And Georgia. (He sounds really caustic):

When lenders begin lending again, the demand backed up by buyers is very high and the economy will perk along. No money – no recovery.

Agents in Wisconsin found a similar situation:

Banks have gotten much more aggressive for owner occupied transactions.

Seems as though, some private investors would find a ready market in Kentucky:

Generally speaking only local banks are lending commercially. It takes twice as long to get a loan and the underwriting requirements are too restrictive. – Kentucky

Finally, it seems as though in Ohio, small businesses have no choice but to approach hard money lenders:

Big banks are not making loans to small companies anymore… only to big businesses.

Flip to the private commercial lending environment in California…

The National Association of Realtors discovered that private lenders run a booming lending business in California. More brokers have joined and more are investing in the field. Private lenders in California have profited from a growing interest in investing that came upon the shorttails of the recession. 2015 was a good year with private lenders mainly servicing entrepreneurs and small business owners. As mentioned, these were ones who were turned away from the banks.

During the last year, private lenders also boosted the attractiveness of their field by eliminating one of their problems: the low loan-to-value (LTV) rate. Originally, lenders only doled out LTV rates that ranged from 50- 60% which is hugely low for the value of private property. A growing number of agents felt comfortable enough to raise their LTV rates to 80%. Some meet full property percentages. This and tightening government regulations to protect borrowers (particularly residential borrowers) has made investors more willing to see private commercial lenders as an attractive alternative.

On the flip side, growing prices and the bonus high interest rates of lenders resulted in a rising percentage of defaults. Inexperienced and new agents had more of these collapsed repayments than others. Defaults are predicted to rise the coming year largely due to an increase In interest rates. Government regulations, too, have meddled in the situation with irksome and complicated rules that force lenders to protract time to acquire loans thus making an original attractive private lending situation less so.

Nonetheless, these years seem to be a good time to enter the private commercial lending market in California, particularly if you know how to do it.

Here are some of the reports as published by NAR:

Most people say they will talk to their bank for commercial loans. – California

True. But then, a majority are turned away. This is particularly due to the fact that:

Excessive regulations and self-imposed bank red tape have made commercial borrowing difficult for legitimate customers. – California

This causes many investors to turn to hard money lenders.

I think there’s enough money available, the problem is not the Banks; it’s the borrower’s inability to qualify for financing. – California

And said another private lender who world in California:

Many, many obstacles to getting a loan. Even experienced loan brokers aren’t sure of their deals until the very end of the process. – California

Which is why hard money lending in California is thriving…

Bean species affected by white nose syndrome

White-nose syndrome (WNS) is an emerging transmissible disease that affects a long list of hibernating palms throughout the world. And since these bats species easily hibernate to survive in winter, the disease in general has a mortality rate of 90% to 100%. In fact, he has killed millions of bats only in the United States. It is caused by a called fungus Pseudogymnoascus destructans (Pd), and it was thought that they were bought in Europe or China in 2006. Researchers suspect that it develops in conditions of cold and moisture, similar to the mold and other fungi, and it seems that it only affects bats that hibernate.

Effects of WNS

White nose syndrome is distinguished by white fungal growth in mumps and bat wings. Here's the name . But the irregular behavior of the bars in the interior and outside of the hibernation churros ( also called hibernacula ) is another common indication of the disease. This includes frequent flights during the day, overflowing in the hibernacle entrance and much more. These behaviors are thought to be the result of interrupted hibernation, fatigue, depletion of stored fat reserves and emaciation.

Presence of WNS in North America and Canada

There are several species of wintering bat in North America and Canada that are currently affected by the Nas Blanca Syndrome. It is considered the worst wildlife disease to break into the history of North America! So far there is no sign that the illness diminishes its distribution rate, and there is no cure either. However, researchers have not given up populations of infected bats from around the world. They still try to forget the cure.

In Asia:

Bat of eastern water ( Peptot of Myotis )

In North America:

Big brown ( Eptesicus Fuscus)

Little brown brown Myotis lucifugus )

One gray ( Myotis grisescens )

Indiana Bat ( Myotis sodalis )

Tricolor ( Perimyotis subflavus )

Oriental small foot ( Myotis leibii )

Northern Long-Eared ( Myotis septentrionalis )

To Europe:

Barbastelle ( Barbastellus barbastellus )

Bat de Bechstein ( M. bechsteinii )

Bat de Brandt ( M. brandtii )

Brown Long-Eared ( Plecotus auritus )

Common Bent-Wing ( Miniopterus schreibersii )

Bat de Daubenton ( M. daubentonii )

Bat of Geoffroy ( M. emarginatus )

Greater Mouse-Eared ( M. myotis )

Smaller horseshoe ( Rhinolophus hipposideros )

Mediterranean horseshoe ( Rhinolophus euryale )

Bat de Natterer ( M. nattereri )

Batet del nord ( Eptesicus nilssonii )

Pond Bat ( M. dasycneme )

WNS in the United States:

  • Alabama
  • Arkansas
  • Connecticut
  • Delaware
  • Georgia
  • Illinois
  • Indiana
  • Iowa
  • Kentucky
  • Maine
  • Maryland
  • Massachusetts
  • Michigan
  • Minnesota
  • Missouri
  • New Hampshire
  • New Jersey
  • New York
  • North Carolina
  • Ohio
  • Rhode Island
  • Pennsylvania
  • South Carolina
  • Tennessee
  • Vermont
  • Virginia
  • Washington
  • West Virginia
  • Wisconsin



Source by Sarahbeth Kluzinski

California Missions

From 1769 to 1823, Spain built missions all along the California coast in their request to convert the indigenous people to Christianity and as strongholders for their newly claimed territories. Twenty-one Spanish missions can be found along the 'King's Highway' in California, which is today Highway 101. California Missions are the oldest structures in state and feature early churches, cemeteries, bell towers, garden courtyards, living quarters and more. They once served as trade centers for food, grain, hides, wine and more. Today, they are tourist attractions and some are still active churches.

The majority of the missions can be found on the Central Coast of California. Some are easily accessible in touristy towns like Carmel, San Luis Obispo and Santa Barbara while others including the San Antonio, San Miguel and La Purisima Missions are in more remote regions. San Juan Bautista Mission is one of the largest and was known as the 'Mission of Music'. It was also prominently featured in the Hitchcock classic, Vertigo . The Carmel Mission was known as the 'Crown Jewel of the Missions' for its beautiful grounds and location at the mouth of the Carmel River. It is also the burial place of Padre Junipero Serra who found most of the California Missions. The impressive Santa Barbara Mission was known as the 'Queen of the Missions' for its size and beauty. The Santa Inez Mission is located just north of the Gaviota pass near Solvang and was known as the 'Mission of the Passes'.

The San Francisco region houses 5 California Missions. The San Francisco Solano Mission is located in Sonoma wine country and was the last to be built in the state. It harbors an infamous past of a Padre who was especially cruel to the natives. The Dolores Mission is located near downtown San Francisco and rarely survived the Great San Francisco Earthquake of 1906. Other Bay Area missions can be found in San Rafael, San Jose and Santa Clara.

There are 5 missions in Southern California that are spread out between Los Angeles, Orange and San Diego Counties. San Diego has the distinction of having not only the first California Mission, but the largest as well. The San Luis Rey Mission is located in Oceanside and was known as the 'King of the Missions' for its grand size. The San Juan Capistrano Mission in Orange County is renamed for the swallows that return every year around March 19th. Two Missions return on the outskirts of Los Angeles including the San Gabriel Mission which was known as the 'Pride of the Missions' for its once productive trade of crops, hides and wine.

All California Missions are visitor friendly. Many of them are still active churches and open to the public with most having museums and gift shops. All are very picturesque with fountains, grottos, gardens, mission bells and elaborate churches. They've been tested to the extreme by earthquakes and fires over the decades, sometimes leaving them mostly adobe structures in ruins. Some retain their ruinous appearance while others have been restored to their original glory. Every mission is unique in its design and history. Entry fees are minimal for such splendid beauty and historic significance.

The best of New Jersey: the best attractions in New Jersey, beaches and more

Before starting planning your family vacation in New York or Connecticut, it's worth considering going to the south of the Tri-State region. The regions of New Jersey of Skylands, South Shore and the western Delaware River; With its snowy mountains, amazing New Jersey theme parks and rich historical culture are some of the best places to visit throughout the year.

High In The Sky-Lands Region

The highest point in the Skylands region is at 1,803 feet. Marked by the imposing monument at the High Point State Park, the surrounding area offers dozens of paths to explore during the warmest months and of course a bunch of first-class skiing in winter.

One of the best resort resorts in the region is the Mountain Creek Resort in the Vernon Valley. Its proximity to New York (just one hour from George Washington Bridge) makes it a very popular destination for those of the other three-state regions. There are over 170 acres for ski sports with 19 parkland trails, numerous pipe lanes and a giant SuperPipe with stadium lighting.

Wild About Wildwood

For fun in the sun, south towards Wildwood. The best attractions of Wildwood that should be on any list of visitors are Doo-Wop hotels, Wildwood Beach and, of course, the Wildwood offer of the best attractions parks of New Jersey.

To make sure you have all your energy to make yourself wild at entertainment attractions, check out a nice hotel. Before starting to look for the last 5-star biscuit complex, immerse yourself in the Wildwood culture and check out a truly conserved Doo-Wop hotel.

Plastic palm trees in Doo-Wop hotels are Wildwood attractions in their own right. However, for a little more authenticity, download to Wildwood Beach, you've recently voted for the best New Jersey beach. Wildwood has some of the widest beaches on the coast. Wildwood Beach is patrolled during the summer and is very friendly to children. The best thing about the beach should be that it is free: beach labels are not required.

The selection of New Jersey park attractions in Wildwood is enough to turn your head. Located on the edge of the beach there are rides for everyone. Everyone will love the Kiddie Train and Mini Teacups (like Disneyland), the older children will go to the Raceway Formula 1 and the whole family will love the ride on the Sínia.

When you've covered the best of New Jersey attractions parks, take a walk through the many corridors and take a Saltwater Taffy to get a stroke of sugar with a good dose of nostalgia.

The Wicked West

If the attractions of New Jersey are not yours, go to the west to take a tour of time. The western side of New Jersey in the Delaware River region has a lot to offer the history buff. Known as the "crossroads of the revolution," the region saw about 300 battles of the revolutionary war of 1776-1783. The Delaware River was also the famous site of George Washington's nocturnal crossing of Pennsylvania to surprise Hessian soldiers in New Jersey. At the crossroads site, today is George Washington Crossing State Park. The park has many historical exhibits that entertain both young and old.



Source by Jonathan Buschlen

Assignment of Judgment in California

The topic of this article is an assignment of a judgment in the State of California. A judgment creditor in California may assign their judgment to a third person, pursuant to Civil Code Section 954.

Code of Civil Procedure Section 673 states in detail exactly what information must be included on the acknowledgment of assignment of judgment that is filed with the Court. If the acknowledgment of assignment of judgment does not contain the information required by law, the judgment debtor could object to any enforcement actions taken by the assignee of record.

Assignments of judgments in California are now widely used compared to 20 years ago when the author worked in property management and collected Court judgments for his employer.

However the assignment should state that “all right, title and interest” in the judgment is being assigned to avoid any objections as the California Supreme Court has ruled that an assignment of only part of a judgment probably is not valid unless the judgment debtor consents or ratifies the assignment.

All of the assignments of judgment that the author uses in collecting judgments state that “all right, title and interest in the judgment” is being assigned.

An assignment of judgment in California generally transfers all the rights that the judgment creditor had to the assignee of record a California Court of Appeal has stated.

“In doing so, the judgment creditor assigns the debt upon which the judgment is based. Through such an assignment, the assignee ordinarily acquires all the rights and remedies possessed by the assignor for the enforcement of the debt, subject, however, to the defenses that the judgment debtor had against the assignor.”

A California Court of Appeal has ruled that so long as the assignment of judgment complies with the statutory provisions of the Code of Civil Procedure, a judgment debtor cannot object to the legal standing of the assignee of record judgment creditor’s authority to make the assignment.

Visit the following website to view any of the statutes cited in this article,

http://www.leginfo.ca.gov/calaw.html

An exception would be if the assignee of record lacks capacity to enforce the judgment such as an assignee that is a suspended corporation or something similar.

In the author’s more than 20 years of experience in collecting unpaid judgments in the State of California he has had many judgment creditors who “forgot” that they assigned their judgment to someone else, and have attempted to convince the author to take on collection. He has refused as the person who first becomes the assignee of record by filing an acknowledgment of assignment with the court or otherwise has priority, pursuant to Civil Code Section 954.5(b).

The author sincerely hopes that you have enjoyed this article.

Yours Truly,

Stan Burman

Copyright 2012 Stan Burman. All rights reserved.

Breach in common exchanges and 1031

Leasing in common is a way for two or more individuals to have undivided shareholding in one property. With this type of real estate, each owner has individual rights and obligations related to ownership. These rights are equal to the proportional proportion of the owner's interest.

Having this type of property interest gives the investor the right to its proportional proportion of net profit, tax benefits and appreciation. The owner treats of a similar way to a simple landlord and receives individual property and title insurance on his part of the property. An owner can also send their interest to any beneficiary after the owner's death.

This type of direct interest in the real estate sector can also be classified as a "type" real estate for 1031 changes, making ITC an important part of the 1031 exchange universe. To protect them from The personal responsibility derived from the ownership of the direct title to the property, most of the investors create limited liability companies (LLC) for this purpose.

BENEFITS

One of the key advantages is that each individual investor maintains the ability to express itself in the daily functioning of the property. This authority includes determining when and under what terms the investment will eventually be sold. This contrasts with the ownership of the Statutory Trust of Delaware, where individual investors assign this authority to a third party.

In addition, since buyers are able to group resources, this gives the collective a much higher purchasing power than an individual investor. This opens a wider selection of potential investment properties, with greater growth potential.

Finally, in cases where a tenant in common is offered as a guarantee, the investor also enjoys the benefits of securitized real estate.

RISKS

Although it is very popular, this type of property also presents a unique set of challenges that any investor must take into account in a preliminary way. Beyond the typical risks associated with investing in real estate, when the property guarantees multiple investors, there is always the risk of conflict or disagreement over ownership of the owner.

Any major decision requires the unanimous approval of all the owners, which can be problematic if fast decisions are required. Although most agreements contain a purchase arrangement to dissolve owners, it is usually not a quick or easy process. The time it takes to resolve disagreements between homeowners can often cause the group to lose out on lucrative sales opportunities.

In the same way, if the property is mortgaged, there is also the risk that a change in the financial status of an individual owner could negatively affect any future refinancing. Unlike the Delaware statutory trusts, when a joint lease contract seeks financing, the lender will examine the individual credit of each individual investor.



Source by Alexander Thorston

Answering a Complaint With Alter Ego Allegations in California

Answering a complaint with alter ego allegations in California is the topic of this article. The allegations are also known in the legal field as corporate veil piercing allegations because they are used to “pierce the corporate veil” and have a court disregard the corporate entity, which will allow a plaintiff to add an individual person, or persons, or even another corporation as a defendant and seek to hold them responsible for the debts or other liabilities of the main corporation.

Alter ego allegations are generally used against smaller corporations, particularly corporations with only one or two owners. In the experience of the author, many creditors will file a complaint with alter ego allegations with little, if any, evidence to support the allegations of the complaint in the hopes that this will somehow give them leverage.

A party cannot totally avoid the possibility that someone may seek to hold them personally liable for the debts for a corporation which they own or control, particularly in California. But they need to file an answer to any complaint seeking to impose alter ego liability on them, and be sure to claim indemnity from the corporation in the answer, and possibly in a cross-complaint as well, pursuant to subdivisions a through c of Section 317 of the California Corporations Code, as many if not most California corporate bylaws do allow the corporate directors and officers to claim indemnity from the corporation to the fullest extent of the law.

Anyone answering an alter ego complaint should include all of the specific information they have in their affirmative defenses as to why the Court should not deviate from the usual legal doctrine of the separation of corporate and individual legal identity and existence, such as they did not personally guarantee any debts to the Plaintiff, etc. They should also be sure to send specially prepared interrogatories to the plaintiff asking them to state all facts that support their alter ego allegations, identify all persons with personal knowledge of those facts, and all documents, etc. Also request to inspect all documents that support their alter ego allegations as well.

Many times the Plaintiff will respond with a boilerplate response such as allegations are made on the advice of counsel, information and belief, etc. Sending supplemental discovery requests a month or two later requesting if any new information has been received which would require supplemental responses to interrogatories or document requests is a wise move in such situations. This is so because a party responding that their previous responses are still true and correct is basically admitting that they have no evidence, no fact, no persons with personal knowledge, and no documents to support their allegations. In that case a party might want to look into possibly filing a motion for summary adjudication on the issue of alter ego liability, or perhaps even summary judgment. In the opinion of the author, anyone who responds to a supplemental discovery request that they have NO new information, documents or anything else is just asking for a summary adjudication/judgment motion. They should have thought about that before making those allegations with no supporting evidence.

The author sincerely hopes you have enjoyed this article and found it informative.

Sincerely,

Stan Burman

Scientific police management

The Law Enforcement Administration (LEAA) represented the federal government's contribution to the "War against crime." Established as a division of the Federal Department of Justice, the organization administered funds to various state and local government agencies focused on educational, research and planning initiatives. By means of a 1968 Law on the control of the offense of the omnibus, LEAA began his life helping local law agencies and finally ended his existence in 1982. The organization was the average child of the Police organizations initiated by the Office of Assistance for the Application of the Law and followed by the Office of Assistance, Research and Statistics of Justice.

LEAA became the most-frequent non-profit alliance for the country's police professionals. A demonstration of its power was revealed to produce changes when, as a result of its promulgation, all agencies of the Police Department receiving government funding had to eliminate the minimum policy of the officers . This affirmed in an increase of the women employed in the force.

Site actions can affect all law enforcement agencies regardless of where they are. As an example, Delaware may not have any jurisprudence on OJ Simpson's case or the Rodney King case, but reported allegations in trials or final results will affect police actions everywhere including Delaware. These are not events that occur only in one place, but they can happen in any jurisdiction in America. Therefore, distant events often create what is known as a legacy for compliance with the law in general.

The immigration project in Arizona has this kind of potential to become a legacy. Let me explain in detail. The results of actions on other sites can initiate demonstrations in your hometown in support of the original initiative. There is the possibility that these manifestations may provoke the violence that forces the local agencies of the application to interact.

As you can see clearly from the previous example, it will benefit at all levels of law enforcement to use empirical research data. When reviewing the information related to previous problems, the data could previously have been collected and easily used to assess whether the proposed actions would affect several locations. The results could evaluate the effectiveness of the law enforcement agencies approach to solve the problems that arise.

The increase in provisions for the necessary financing in support of the project should definitely be maintained. Times have changed and the lessons that have to be learned are not nearly the same as in the last couple of decades. Terrorist activities are continually increasing and needing different actions that were used before 9-11. The value and benefits obtained for our investment are worth the cost. To finalize the funding in this matter, it would be desirable that the United States be more vulnerable at some future time.

Copyright @ 2010 Joseph Parish
http://www.survival-training.info



Source by Joseph Parish