Can you complete a 1031 exchange if you only own a limited partnership interest in real estate? Not directly—but strategic solutions like the “drop and swap” may provide a path forward. In this article, we explore the legal and tax complexities of navigating 1031 exchanges from within a partnership, with a focus on opportunities in high-value markets like Newport Beach.
When co-owners of real estate can’t agree on what to do with a property, a partition action may be the only option — but it’s rarely the best first step. In this article, we break down how partition actions work in California, explain recent changes under the Partition of Real Property Act, and share how Lucas Real Estate Group helps clients avoid costly litigation through strategic planning, buyouts, and trusted legal referrals.
Five years after the shift to remote work, homebuyers across Newport Beach, Eastside Costa Mesa, and surrounding coastal communities are rethinking what it means to live—and work—at home. From multifunctional floor plans and tech-integrated upgrades to outdoor office retreats, today’s luxury buyers are prioritizing properties that support a seamless work-life balance. Discover how remote work is shaping real estate trends and what features are now must-haves in the Southern California market.
The historic Balboa Island Ferry is here to stay—and it’s going electric. Backed by a $7.9 million grant and growing community support, the ferry is preparing for a zero-emission future while remaining fully operational. Learn how this transition impacts Newport Beach real estate and how Lucas Real Estate Group is keeping you connected to what matters most in coastal living.
Ban on Predatory Real Estate Offers Extended
Governor Newsom has extended through July 1, 2025 the executive order prohibiting unsolicited, undervalued real estate offers to homeowners in firestorm-affected Los Angeles ZIP codes. This crucial protection targets predatory investor behavior aimed at vulnerable property owners still recovering from disaster.
While this new order applies to property sales, it’s important to note that rental price caps and eviction protections remain in effect under earlier executive actions.
📖 Read our full article to learn how these protections impact real estate professionals, landlords, and property owners throughout Southern California.
Thinking about forming an LLC to hold real estate in California? Discover why LLCs are a powerful tool for privacy, asset protection, estate planning, and tax flexibility—especially for high-value properties in Newport Beach, Costa Mesa, Corona del Mar, and other Orange County coastal communities. This comprehensive guide from Lucas Real Estate Group covers everything from liability and tax benefits to Prop 19 strategies and long-term maintenance considerations.
California’s homestead exemption—recently expanded and indexed for inflation—offers powerful legal protections for homeowners, especially in high-value areas like Newport Beach and Eastside Costa Mesa. In this article, the Lucas Real Estate Group breaks down the history of the homestead exemption, recent legal updates, and how to use it effectively as part of your real estate or estate planning strategy.
Proposition 19’s intergenerational transfer cap has been adjusted to $1,044,586 as of February 16, 2025, offering only modest relief for families hoping to preserve their property tax basis. For high-value areas like Newport Beach and Coastal Orange County, this minor inflation adjustment does little to mitigate the harsh tax implications of Prop 19. Learn what this means for your family and how Lucas Real Estate Group can help you plan strategically.
Thinking of selling your home in Newport Beach or Costa Mesa?
From pricing and preparation to marketing and negotiation, our Ultimate Home Seller Checklist walks you through every step of the process—backed by the local expertise of Lucas Real Estate Group. Whether you’re handling a trust sale, family transfer, or traditional listing, we help you maximize value while minimizing stress.
If you own a California LLC — even one with no income or used solely to hold real estate — you’re still required to file Form 568 and pay the $800 minimum annual franchise tax. This blog breaks down the two most critical filing requirements for LLC owners, especially those using an LLC for privacy, rental properties, or estate planning purposes. Don’t risk penalties or suspension — find out what’s due, when, and how to stay compliant.
Lucas Real Estate
2901 West Coast Highway Suite 200 | Newport Beach | California | 92663-4023
[email protected] | 949.478.1623 office
Devin Lucas BRE No. 01912302 | Courtney Lucas BRE No. 02015514
Lucas Real Estate, a dynamic full-service residential real estate team led by Devin Lucas, REALTOR®, Real Estate Broker, and Real Estate Attorney, and Courtney Lucas, REALTOR® and CPA, offers unparalleled expertise in Newport Beach and surrounding areas.
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