Articles Tagged with real estate law

Contractors, subcontractors, and suppliers have many tools at their disposal to protect their rights under construction contracts. While the mechanic’s lien is one of the most common ways a contractor or supplier can ensure full payment for their services, this type of legal tool can only be used for private construction projects against the private property owners. For this reason, many people who enter into government contracts may wonder what their options may be under the law to make sure they are properly compensated for their work. One of the most important tools under such circumstances is the payment bond.

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What is a payment bond?

Payment bonds are common in many large-scale private construction projects and are further required in by California law for the following:

Too often, a contractor, subcontractor, laborer, or material supplier on a construction job does not receive the compensation they deserve for the work they have performed or supplies they provided for the project. Fortunately, California law provides a method by which contractors and others can pursue adequate payment. If the job is a private construction project, a primary tool for receiving payment is the mechanics lien. The following are some brief explanations for frequently asked questions amount mechanics liens in California.

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What exactly is a mechanics lien?

A mechanics lien is a tool that creates a security interest in the property on which you worked. After a certain amount of time and if payment is not received from the property owner, you can then sue to foreclose on the lien to satisfy the lien amount.

Landlords and tenants may come head-to-head in property disputes when an occupant breaks the rules of an their lease agreement. Knowing how to navigate a potential breach of lease is important for landlords when dealing with tenant issues.

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What is Breach of Lease?

A real estate lease is a contract that outlines the landlord and tenant’s responsibilities regarding the occupancy of the property. Tenants are obligated to follow the rules of a lease agreement or the landlord has just cause to terminate the lease and evict them. A breach of lease is when activities occur that violate the terms of the lease agreement. Here are 3 tips for landlords experiencing issues with tenants. Continue Reading

Commercial real estate transactions can be lucrative investments, but there may also be high risk due to the amount of money at stake. The following are 4 examples of legal issues that sometimes arise during the sale or purchase of commercial property.

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  1. Accurate Property Valuation

When you are shopping for a product, it is often easy to compare the price and quality to a similar product. However, pieces of real estate are often unique with no exact comparison based on size, age, use, and/or state of the building or land, making accurate valuation significantly more challenging. In addition, any current income stream or potential future income associated with commercial property should also be a factor in determining a fair and reasonable price. Utilizing an experienced commercial appraiser can assist both buyers and sellers with determination of value. Continue Reading