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It is being heavily reported that the new law (SB 458) signed into effect this past week regarding short sale transactions in California will aid the short sale process and provide further protections to sellers. In short, the new law prohibits second lien-holders from going after short sale sellers for the deficiency amount between what is owed on the loan and the lesser amount the second lien-holder agrees to accept to complete the transaction. This restriction is already in place for primary lien-holder deficiencies.

Legal disputes stemming from residential real estate transactions are on the rise, largely due to the increase in short sales and foreclosures. In regards to short sales, some sellers are taking legal action against their own real estate agents, alleging that they misrepresented or failed to disclose the possible loan deficiency amount owed to a lender (usually a “2nd”) and/or tax obligations.

Joseph Diliberti, a local Vietnam veteran and artist, has been battling San Diego tax authorities for the past seven years, but the conflict may come to an end on Friday. The LA Times ran this story today about the planned March 18th auction of Diliberti’s San Diego County home.

Here on the Griswold Law Blog, we use the terms “Health & Safety Code Receiver” and “Real Property Receiver” quite a bit in our articles about the different types of situations where a court-appointed receiver can provide a remedy for problematic structures (i.e. abandoned properties or slumlord-owned properties). However, receivers can be appointed by the Court to rehab non-residential properties as well. Two example scenarios are explained below:

Continuing in our series about money judgment collection, here’s another option for how judgment creditors can collect from debtors. We’ve already discussed wage garnishments, bank levies and even what to do if you don’t have any information on the debtor’s assets. Another common method of collection involves placing a lien on the judgment debtor’s real property.

Abandoned properties hardly stay “abandoned” for long. If a property is uninhabited, it’s susceptible to takeover. Vandals, taggers, squatters and transients can move in and out, staying for the night—or for longer. A once-empty house can transform into a house covered in graffiti and trash in a matter of weeks. Vermin could move in as well and spread throughout the neighborhood. Abandoned properties make neighborhoods less safe and drag down property values for the other houses on the block.