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Palos Verdes Estates Real Estate Law Blog

Be detail-oriented in real estate transactions

California residents can obviously become trepidatious when they are getting involved in a real estate transaction, whether it is residential or commercial in nature. These types of transactions often involve thousands, if not hundreds, of thousands of dollars. With such an expenditure of funds, the results must be right.

Anyone involved in a real estate transaction will want to be detail-oriented in their approach to getting the deal done. The back-and-forth between a potential buyer and a potential seller should almost always be done in writing, so that there is a verified record of what is being offered, accepted or countered. In most cases, the biggest issue is the purchase price for the real estate involved, but there can be other details to worry about as well, such as what fixtures or assets on the real estate will be included in the sale and how the buyer will secure financing.

$1.65-billion RFQ for California high-speed rail construction

A high-speed rail link connecting San Francisco and Los Angeles has been in the pipeline for a long time but the work has not picked up much pace. With the 2022 deadline for this project not too far away, the federal government is threatening to take away the funds that it had granted for this project. However, it now seems that the pace of work would finally pick up as the California High-Speed Rail Authority has issued a Request for Qualification that is worth approximately $1.65 billion.

According to news reports, the CHSRA is open to awarding the contract to any domestic or international business. The scope of the project includes the design and construction of the track and systems for the 119-mile long first phase of the beleaguered bullet train project. In fact, besides design and construction, the successful bidder will be responsible for maintaining the system for a period that could extend up to 30 years. In order to understand how big the total opportunity is, one should note that this $1.65 billion is only a fraction of the total estimated expenditure of $79 billion that has been estimated for this project.

The various types of businesses entities in California - II

A couple of weeks ago, a post on this blog began a discussion on the six different types of business entities that can be formed in California. That post provided the readers with a brief overview of a Corporation, a Limited Liability Company and a Sole Proprietorship. Moving on, this post will provide readers in and around Palos Verdes Estates a brief idea regarding the other three types of business entities, namely, general Partnership, Limited Partnership and Limited Liability Partnership.

A General Partnership, or GP, is a business entity that has at least two individuals who are in business for a profit. In this type of partnership, the profits are taxed as personal income and all partners are jointly and severally liable for all the obligations of the partnership, unless where it is provided otherwise by law.

The various types of businesses entities in California - I

California, in recent decades, has emerged as the startup capital of the world and people from across the United States and the rest of the world are coming to the state to set up shop. However, before starting a business in California, an entrepreneur needs to decide the type of business entity that is to be set up. For that, IT entrepreneurs need to understand the various types of entities that can be formed in the state.

In California, there are six types of business entities that an entrepreneur can choose from. This blog post will focus on the first three types: Corporations, Limited Liability Companies and Sole Proprietorships. The next post will discuss General Partnerships, Limited Partnerships and Limited Liability Partnerships.

Mechanic's lien: Overview, prevention and remedial action - III

Over the past few weeks, posts on this blog have discussed mechanic's lien in California and how it can be prevented. This third and final post in this series will discuss the course of action for a property owner in the event a mechanic's lien is filed. While the complete set of laws related to mechanic's lien can be found in Sections 8000 to 9556 of the California Civil Code, this post is meant to provide the reader with an overview of the remedial actions for an invalid mechanic's lien in California.

The first step after receiving a notice for mechanic's lien is to check whether that lien is valid or not. Some common reasons behind an invalid lien filing include situations such as when the work has not been completed; when some materials that were required for the work were not actually supplied; and when an eligible stakeholder not file the lien within the time stipulated by law. A detailed checklist to determine the validity of a mechanic's lien is available on the California Contractors State License Board website.

Mechanic's lien: Overview, prevention and remedial action - II

An earlier post on this blog provided an overview of mechanic's lien in California. That post contained the definition of mechanic's lien and provided details of the parties that can be involved and affected by it. While the complete set of laws governing mechanic's lien can be found in California Civil Code Sections 8000 to 9566, this post is meant to guide readers about how to prevent mechanic's lien.

The first step toward preventing a mechanic's lien case is related to choosing the contractor. Determining factors should include a check on whether the primary contractor is licensed; whether the primary contractor hires licensed subcontractors only; and whether the primary contractor has a good reputation for making payments to the subcontractors, laborers and material suppliers.

Mechanic's lien: Overview, prevention and remedial action - I

A unique characteristic of the construction business is that disputes between the parties involved can sometimes arise after the work is completed. One such construction dispute that many people may be aware of is mechanic's lien. It is a dispute that usually begins after the completion of work and it has the potential to bring about significant challenges for both the property owner and the contractor.

Mechanic's lien is a "hold" against one's property that is filed by an unpaid contractor, subcontractor, laborer or materials supplier in the county recorder's office for nonpayment of financial dues. It can also be filed by subcontractors, laborers and material suppliers who have not received their payment from the direct contractor who has already received payment from the property owner. Per California laws, the property owner is the one who is ultimately responsible for making the payment in this situation.

Working with lawyer can save your new business time and money

If you’re about to start a new business, you are probably feeling financial stress and pinching every penny. It takes money to get a business off the ground, and that requires some hard choices about what are considered necessities vs. luxuries.

You might think that working with business law attorney is a luxury – and one that you can’t afford. But working with the right attorney when starting your business can save you both time and money. It may also help you prevent mistakes that could be costly later on.

What happens when a change is needed to a project?

Anyone who has worked in the construction industry for any length of time knows that the original plans can function more as a guideline than a final blueprint. Items that look good on paper but won't work well in reality, property owners who want to make changes after seeing the project moving forward, and other issues often arise that necessitate a change that could delay a project and conflict with the original contract.

If you account for these changes in the construction contract, it could save everyone a great deal of frustration, stress, money and time. In order to accurately address this issue, you first need to understand what change orders are and how they fit into a project.

What can you do when construction isn't constructive?

Regardless of why you hired a contractor, you likely have certain expectations. You probably plan to have the work completed by the date you agreed on, receive the materials you chose and trust that your contractor will perform the work according to manufacturer specifications.

Unfortunately, things do not always go according to plan. Inclement weather could play a factor, as could an empty supplier warehouse. While shoddy workmanship and project delays are always a risk, there are some ways you can protect your interests when you handle a dispute with your contractor.

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Palos Verdes Estates, CA 90274

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