2018 Tax Reform – Key Impacts on California Real Estate

  • June 15th, 2018
  • devinlucas

Newport Beach, Costa Mesa, Orange County and all California homeowners – and potential homeowners – have some significant tax changes to consider and plan for in 2018. H.R. 1, known as the Tax Cuts and Jobs Act, which both houses of Congress passed on December 20, 2017, contains a large number of provisions that affect […]

California Propositions 60 and 90 – Property Tax Transfer to New Residence

  • April 4th, 2018
  • devinlucas

Proposition 60 allows the transfer of an existing Proposition 13 base year value from a former residence to a replacement residence within the same county, if certain conditions are met.  This benefit is open to homeowners who are at least 55-years old and are able to meet all qualifying conditions, (see below) and applies in […]

Real Estate Mediation And Compliance With The Requirement For Pre-Litigation Mediation Under The California Association of REALTORS® Residential Purchase Agreement (“RPA”)

  • March 10th, 2018
  • devinlucas

This article is designed to review and provide an overview of the real estate mediation process with emphasis on review and requirements under the California Association of REALTORS® Residential Purchase Agreement (CAR form “RPA”).  Real estate disputes and resulting real estate litigation come in all sizes and surround anything and everything imaginable pertaining to modern-day […]

Real Estate Tax Tip For Itemizers (aka Loophole ALERT) – Consider Paying Your Second Installment Property Tax Bill Early (as 2018+ is Now Capped)

  • December 27th, 2017
  • devinlucas

Consider prepayment of your property taxes in 2017. Newport Beach, California – H.R. 1, known as the Tax Cuts and Jobs Act, which both houses of Congress passed on December 20, 2017, contains a large number of provisions that affect individual taxpayers, especially homeowners. As of January 1, 2018 – single or married – you […]

California’s New Transfer on Death Deed May Be An Ideal Solution For Easy Estate Planning

  • April 18th, 2017
  • devinlucas

Transfer on Death Deed Newport Beach, Costa Mesa, Orange County and all California property owners have a new tool to simplify their estate planning. California’s new (2016) Transfer on Death Deed may be an ideal solution for those who own real property in California, want to ensure the property passes smoothly to a named beneficiary […]

Forming an LLC to Hold Real Estate in California

  • December 11th, 2016
  • devinlucas

Forming an LLC (a Limited Liability Company) to hold real estate has long been a common approach for estate planning, tax, liability and privacy concerns. While this practice is perfectly legal in California and elsewhere, there are some considerations and tax implications. High-end properties, especially those purchased in all-cash transactions, such as many homes in […]

Rental Increases in California: Timeframe for Proper Notice

  • August 5th, 2016
  • devinlucas

Rent Increases:Generally speaking (lease provisions must be reviewed), in areas without rent control (all of Orange County as of Summer 2016), there is no limit to the amount a landlord can increase the rent as long as proper advance notice is provided to the tenant. The length of notice is dependent upon the percentage of […]

Feds Expand Reporting Requirements In All Cash Purchases to Some Areas of California

  • August 4th, 2016
  • devinlucas

The U.S. Treasury in late July announced its intention to expand its Geographic Targeting Orders (GTO), temporarily requiring U.S. title insurance companies to identify the natural persons behind shell companies used to pay “all cash” for high-end residential real estate in six major metropolitan areas, including five in California. Expanding the GTOs is a continued […]

Evicting a Tenant Over Failure to Obtain Renter’s Insurance? Think Again.

  • May 19th, 2016
  • devinlucas

In Newport Beach, Costa Mesa, and Orange County Communities, where rental properties are abundant, landlords routinely require tenants to obtain “renter’s insurance” – insurance to protect the renter’s personal property, i.e. their T.V., clothing, etc. – in case of a fire, burglary, or other incident.  Many landlords take a firm position “requiring” the tenant to […]

Fair Housing Foundation’s Tip of the Month: Responding to Landlord Notices (and tips for landlords on how to serve a notice)

  • January 27th, 2016
  • devinlucas

From the Fair Housing Foundation – their “Tip of the Month”… Visit www.fairhousingfoundation.com for more information… Responding to Notices Tenants: Receiving a notice from your landlord can be a very stressing occurrence. It is of the upmost importance that responding to the notice takes priority and that you respond as soon as possible to resolve the […]