Fresno's Real Estate Lawyers, Cuttone & Associates

Why An Estate Plan Is Necessary?

Tue, 03 Jul 2018 02:22:57 -0700

Many people wonder why an estate plan is necessary. The reality is that in the unfortunate event of your death, the government already has a plan for your estate. However, that plan won't be beneficial for you and your family. Without estate planning, the court system will make crucial decisions regarding everything you own and your family's future.

What Does an Estate Consist of? Some people believe that they don't really have an estate because of the size of their property, and thus, don't see the need for estate planning. But everyone has an estate, regardless of the size.

An estate is a person's net worth while alive or dead. This includes a home, car, bank account, and even smaller assets. It also includes any monies that may be generated after a person's death such as a life insurance policy. The following assets are considered to be part of an estate:

Cash, checking, and savings accounts
Jewelry, art, vehicles, and antiques
Home and land
Retirement accounts, life insurance, stocks and bonds
Businesses and business interests
Any debt or obligations owed

Estate Planning Fresno, California

Regardless of where you reside, it's important to have a last will and testament, a living will, and a durable power of attorney set in place to protect you and your family. If you die without a will, California state law dictates that the entirety of your estate will be distributed by the probate court. This process is complicated, but the end result will be that the court will decide who receives your assets and how they are distributed. If you own joint accounts, the co-owner will generally receive the balance upon your death. In California, certain assets such as a house could be registered in your county of residence as a community property in which case, your surviving spouse will become the owner upon your death. California also has a...Read More

7 Types of Cases Represented By Business Litigation Attorneys

Tue, 03 Jul 2018 02:04:58 -0700

A core area of focus at our law offices is with business litigation law, which we offer to clients throughout California. Whether you own a small business or large corporation, lawsuits will invariably be filed against your business for any number of reasons, from a breach of contract to a dispute that a shareholder has with your company. In most cases, you will need lawyers by your side who understand business litigation law and know what it takes to obtain a good result for you and your company. To understand whether or not you require a business litigation attorney, you should be aware of the types of law that business litigation is comprised of.

Types of Cases Represented By Business Litigation Attorneys
When your company is facing litigation, you're likely wondering about how the litigation will affect your overall profit margins as well as your stability. If you want to mitigate the damage caused by this litigation, it's essential that you contact a business litigation attorney quickly so as to expedite the process. There are several types of cases that can be represented by a business litigation attorney, which extend from real estate litigation to intellectual property conflicts.
Real Estate Litigation

This is a type of litigation that you could be presented with in the event that your business has invested into real estate or commercial renting solutions. Our attorneys will be able to assist you in identifying your rights while also helping you obtain an outcome that's favorable for you. Without an attorney by your side, the investments that you have made in real estate could be at stake.

Breach of Contract

Claims that cite a breach of contract are among the most common forms of business litigation law. Whether the contract is with a supplier, client, or some other...Read More

5 Things You Most Likely Didn't Know About Real Estate Governing Laws.

Tue, 03 Jul 2018 01:52:33 -0700

California is a great place to live and work. The mild year around climate and glorious scenic vistas at nearly every turn make living here a true joy. People have been heading out west to seek their fortune for centuries. Those who want to be involved in real estate in California today should be aware of the kind of laws that may apply if they wish to buy or sell real property. While different parts of the state have different real estate laws, there are a few statues that apply to any real estate transaction in the entire state. Knowing what to expect can help make it easier to make decisions about any potential real estate purchase.

1. All Contracts Needs to be in Writing

If you're going to buy or sell a piece of property, you need a written contract. You need to have all details agreements in writing. This is why you should make sure that when buying or selling real property, you have a real estate lawyer who can provide you with a valid contract. Keep copies of this real estate contract on hand. This way, in the event something goes wrong, you the evidence you need to back up your claims.

2. You are Entitled to Know About a Property's Defects

Buying a property means that you are buying the property's defects as well as pluses. The two family home you love may be situated in a part of town that you believe is an up and coming area where property values will go up quickly. At the same time, the property may have lingering problems. There may be issues with foundation, lead in the pipes and problems with occasional flooding. Under California state law, the buyer is entitled to know about these laws before they buy it. You're entitled to know about the property's material defects. You're also entitled to know if there was a death in the space if that death happened in the last three years.

3. The Government Can Claim Any...Read More

Point of Sale Requirements for Smoke Alarms and Carbon Monoxide Devices

Tue, 12 Jun 2018 01:52:45 -0700

Questions:
What are the point of sale requirements regarding smoke alarms and carbon monoxide detectors?

How many smoke alarms and carbon monoxide detectors must a residential property have?

What if the appraiser flags the property as not having enough smoke alarms or carbon monoxide detectors? Must the seller install additional smoke alarms or carbon monoxide detectors?
Smoke Alarms
California Health & Safety Code section 13113.8, effective January 1, 2013, at subdivision (a), states: “[E]very single-family dwelling[[i]] … which is sold shall have an operable smoke alarm. … At the time of installation, the alarm shall be approved and listed by the State Fire Marshal and installed in accordance with the State Fire Marshal’s regulations” (emphasis added).[ii]
Thus, state law requires only one smoke alarm to be installed at point of sale. That one smoke alarm must be approved and listed by the State Fire Marshall, and installed correctly, at the time of installation. Note that since the approval and installation requirements are applied at the time of installation, many homes may already be in compliance, and those sellers need not purchase and install a new smoke alarm to become compliant with Section 13113.8.
An additional point of sale requirement is that the seller must deliver to the buyer, “as soon as practicable before the transfer of title,” a written statement indicating that the seller is in compliance with Section 13113.8. See subdivisions (b) and (c). An example of such a written statement is California Association of Realtors form WHSD, entitled “Water Heater and Smoke Detector Statement of Compliance,” however a seller may fulfill his/her disclosure obligation with a more simple statement of compliance.
It is important to note that Section 13113.8 specifically states that a real estate...Read More