The California case of Kono vs. Meeker decided June 3, 2011 is a perfect illustration of how beneficial a California LLC can be. The facts: Mr.& Mrs. Meeker ( Defendants/Judgment Debtors) owned 2 antique stores in California There is no indication that the two stores were owned by an LLC, rather it appears the Meekers did… [Read more…]
June 5, 2011
Business & Professions Code 7159 requires that home improvement contracts with a licensed contractor must be in writing. However the California courts have carved out an important exception known as the “sophisticated homeowner” rule. In the case of Hinerfield-Ward vs. Lipian the appellate court upheld an ORAL agreement between the contractor and the homeowners for… [Read more…]
May 30, 2011
Smith vs Home Loan Funding decided by the California Court of Appeals February 2011 may have far reaching effects in the mortgage brokerage world. The facts: Anthony Baden ( Baden) worked for Home Loan Funding (HFL) as a loan officer. He was NOT licensed as a broker. In 2006 Smith sought a home equity line of… [Read more…]
April 30, 2011
How does one get asset protection in the first place? In California we use corporations and limited liability companies ( LLCs) to provide a shield for one’s personal assets. This article focuses on the issues associated with a California corporation. The concept is that by creating and funding a California corporation you are shielding (asset protection) your personal assets should… [Read more…]
April 12, 2011
In an earlier blog I discussed some of the issues that come up when starting a business in California. This article explores issues that may arise when buying an existing business. The first issue is how to go about finding a business. Unless you have the ability to locate businesses for sale in your particular area of… [Read more…]
March 31, 2011
In January 2011 a Calif Appellate Court rendered a decision in Aceves vs. U.S. Bank giving new hope to foreclosed homeowners. But the opinion is very narrowly drawn to the specific facts of the case. Whether the decision will be expanded in future cases remains to be seen. The facts were that Mrs. Aceves obtained… [Read more…]
March 30, 2011
In California we have a choice of remedies when a borrower defaults on a loan secured by real property. The most common remedy is to foreclose non- judicially under the “power of sale” clause contained in the trust deed which accompanies the promissory note. However since the proceeds from the forced sale of the property serve to satisfy the… [Read more…]
March 16, 2011
Parents of a student who is applying to college my qualify for college financial aid even though the parents are asset rich with investment real estate in their portfolio!! My office has represented several clients who fit this niche and who have qualified as a result of proper asset placement techniques employed by our office. If structured properly, the… [Read more…]
March 11, 2011
My law office practices in the areas of real estate law, business law, and asset protection. In this author’s opinion if you own real estate or own your own business in California, or even copyrights and patents, you cannot afford not to position these assets in an LLC. In a nutshell, once positioned in an LLC, these assets… [Read more…]
March 8, 2011
Now that Warner Bros.(W.B.) has officially terminated Charlie Sheen’s contract, what are W.B.’s likely defenses( and cross claims) in the avalanche of claims about to ensue? In the old days of Hollywood, contracts between studios and actors employed “morals” clauses. Basically a studio could cut an actor loose if they engaged in Charlie Sheen type activities… [Read more…]
Sjgassociates's Blog
June 25, 2011
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