Real Estate Agents

September 16, 2018

Remedies for Breach of Fiduciary Duty by a California Real Estate Syndicator or Other Real Estate Professional

Author: Staff

Investing in California real estate often requires assistance from real estate professionals, who have specialized education and experience in particular aspects of the real estate business. The term “professional” often means that a person has obtained a license or certification from a state agency charged with monitoring and enforcing ethical obligations. Certain professions require a license from the state, followed by continuing education and adherence to a code of conduct, like California real estate agents and brokers.

The term “professional,” however, sometimes simply refers to an individual who works in real estate, but who is not bound by a specific code of professional ethics. In either case, real estate professionals owe certain duties to clients and investors, and are liable for damages if they breach those duties.

September 18, 2017

California Real Estate Agents’ and Sellers’ Duty of Disclosure to Prospective Buyers

by Bona Law PC

Author: Staff

Real estate investment in California, as a matter of course, involves buying and selling real property. An investor may decide to sell a piece of real property as part of an investment plan, such as after purchasing a distressed residential property and rehabilitating it. A sale may also be a result of conditions that require an investor to get out of a bad investment.

Regardless of the reason for putting a property on the market, California law requires numerous disclosures about the property. Many of these disclosures required by law are ultimately the responsibility of the seller, whether or not they are assisted by a real estate broker. Real estate investors in California should be aware of these disclosures and their legal obligations.

March 31, 2017

Is it Fraud for Owners and Real-Estate Agents to Fail to Disclose a Planned Taking in California?

by Bona Law PC

Author: Staff

In a recent California appellate case, DNI Food Service, Inc. dba Zaya’s Bistro v. Kim, the owner of a multi-tenant retail building in Los Angeles County was notified that two parcels of its land would be affected by a freeway expansion project. The building wasn’t located on either of the parcels, and there were five tenant vacancies.

Caltrans planned to take some land located between the street and building and create an easement over the sidewalk. Real estate agents working for the builder were communicating with Caltrans. At about the same time, these real estate agents advertised tenant space in the building, marketing the property on the basis of its location and its reduced rents. A food services company and its owner saw the ad and contacted the agents. They were hoping for a two-year lease but signed a five-year lease with a personal guarantee. The food services company spent money and time and opened a restaurant in the spot that they rented.