In California, electronic signatures for real estate transactions are legal and governed by both federal and state laws. These laws set out the conditions under which electronic signatures are valid and enforceable, particularly in transactions involving real estate. Key Laws Governing Electronic Signatures in California: 1. Federal Law – Electronic…
In the past, real estate transactions were consummated by signing the dotted line with ink after printing the documents. Now, most, if not all, real estate transactions are being finalized by using electronic signatures. Technology is directly affecting real estate transactions since software programs allow the parties to electronically review…
When the government needs to acquire private property for public use, it can do so through a procedure known as eminent domain. The Fifth Amendment to the United States Constitution prohibits the government from taking property from a private individual or business “without just compensation.” Eminent domain is intended to…
Laws against forgery of documents have existed for almost as long as writing itself has existed. For most of that time, forgery techniques did not change very much. However, modern digital technology has significantly expanded opportunities for people to create fraudulent documents. Real estate transactions are making increasing use of…
The world is growing increasingly “paperless” as more documents move into digital spaces. People born in this decade might only know terms like “sign on the dotted line” and “before the ink is dry” as something their grandparents would explain. Without hard copies of important documents, though, our legal system…
In general, subletting your apartment is a great way to save the cost of rent when you leave for a period of time–for example, to go on vacation or study abroad. However, subletting your apartment without considering the legal implications or local requirements can lead to a legal nightmare. At…
In January 2013, the California Homeowner Bill of Rights will take effect, providing unparalleled protection for homeowners across the state. This Bill, which is the first of its kind, will reform the foreclosure process and provide unique protection for homeowners. The Attorney General of California, Kamala Harris pioneered the Bill…
The United States government recently filed suit against 17 financial companies, including, but not limited to, the largest domestic banks, for selling Fannie Mae and Freddie Mac mortgage-backed securities worth billions of dollars that turned bad when the housing market collapsed. Bank of America Corp., Citigroup Inc., JP Morgan Chase…
The federal government is suing Deutsche Bank, accusing the bank of committing fraud by repeatedly lying to the government and for reckless lending practices in underwriting thousands of federally insured mortgages that ultimately cost taxpayers hundreds of millions of dollars. U.S. Attorney Preet Bharara said the bank “repeatedly and brazenly”…
Quick Facts – Judicial Foreclosure Available: Yes – Non-Judicial Foreclosure Available: Yes – Primary Security Instruments: Deed of Trust, Mortgage – Timeline: Typically 120 days – Right of Redemption: Varies – Deficiency Judgments Allowed: Varies In California, lenders may foreclose on deeds of trusts or mortgages in default using either…