wallet of cash into the hands of Uncle Sam

2018 Tax Reform – Key Impacts on California Real Estate

  • June 15, 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 … Continue Reading

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

  • March 10, 2018
  • devinlucas

For information on Mr. Lucas’ services and availability as a mediator for your real estate dispute, please view our mediation services page here. All Mediations are facilitated virtually, via video conference and/or teleconference. To schedule an online, virtual mediation, view our mediation services page. This article is designed to review and provide an overview of … Continue Reading

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

  • December 27, 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 … Continue Reading

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Forming an LLC to Hold Real Estate in California

  • December 11, 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 … Continue Reading

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Rental Increases in California: Timeframe for Proper Notice

  • August 5, 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 … Continue Reading

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

  • August 4, 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 … Continue Reading

eviction notice

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

  • May 19, 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 … Continue Reading

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

  • January 27, 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 … Continue Reading