|Action to Quiet Title: an action in court, in which a plaintiff seeks to resolve a real-property ownership dispute with the defendant,
who is the adverse claimant to the title.
Breach of Contract: failure to perform, hindrance of another's performance, or repudiation of any of the promises made in a
contract, without legal excuse. A contract is an agreement between two or more parties which creates legally binding obligations.
C.A.R. Forms: California Association of Realtors forms that can be used to facilitate real estate transactions.
Corporation: a business structure that gives its individual members limited liability. A corporation is an artificial person created
by and operating under law, thus possessing only the proprieties its charter gives it; a legal entity having an existence distinct
form that of the individual members that form it, but having the capacity of acting as a single person in matters related to its
Escrow: a document, stock, money or other property given to a third person (escrow agent) to be held by him until the occurrence
of an event or performance of a condition, upon which time the agent delivers it to the grantee or obligee, e.g., a deed to land held
until purchaser pays for it in full.
Eviction: dispossession; act of making a tenant surrender possession of property.
Fraud: an act using deceit such as intentional distortion of the truth or misrepresentation or concealment of a material fact to gain
an unfair advantage over another in order to secure something of value or deprive another of a right.
Landlord: the person who owns real property, and leases it to a tenant. A landlord is often referred to as a lessor.
Lease: agreement between two parties whereby one party, the lessor, yields his or her right of possession and use of property for
a specified period of time to a lessee in return for consideration.
Limited Liability Company: or an "LLC," is a business structure that gives its owners limited liability similar to a corporation, and
taxation similar to a partnership where the entity itself is not a separate taxable entity and the owners report their taxes personally.
Lis Pendens: a suit pending in court. Notice of lis pendens filed with the public records office is said to put the whole world on
notice that the status of the property or matter being litigated is unsettled and therefore one should proceed with caution in
entering into agreements concerning said property or matter.
Living Trust: A trust whose provisions are in effect during the lifetime of the person who established the trust (an "inter vivos
trust"). A trust is property held by one person as trustee for the benefit of another. The trustee holds the legal title of the trust
property and the beneficiary holds the equitable title of the property.
Mortgage: security for a loan; an interest in property given by the debtor (the mortgagor) to the creditor, loan company, or bank
(the mortgagee) to secure payment of the loan.
Partition Action: a judicial or voluntary separation of land held by joint tenants, coparceners, or tenants-in-common so that the
parties may hold their estates severally and not in union with the others. When partition is not an available option, the court may
order a sale of the property and distribute the income proportionate to the interest held in the property.
Tenant: generally, one who possesses real property. Specifically, one who possesses real property under a lease given by the
owner or "landlord," subject to the landlord's title.
Unlawful Detainer: an unlawful detainer is the illegal possession of real property by a person whose once valid right to possess the
property is now extinguished.
Will: a person's declaration of how he or she wishes property to be disposed of after death. A will is revocable during the
testator's or testatrix's lifetime. California has certain requirements regarding writing, witnesses, and capacity.
Telephone (310) 540-2470
Facsimile (310) 540-7165
CHARLES V. SIMONETTI, PC
REAL ESTATE, BUSINESS & ESTATE PLANNING
Twin Towers Building
609 Deep Valley Drive, Suite 200
Rolling Hills Estates, CA 90274
|The Law Offices of Charles V. Simonetti, PC are located in Rolling Hills Estates, Los Angeles
and emphasize in Real Estate Law, Business Law, and Estate Planning.
Any information presented on this site should not be construed to be formal legal advice, nor the formation of a lawyer or attorney-client relationship.