All Forum Posts by: Shannon Wright

No, unfortunately, at the end of the day, everything is revocable if there is no mutual agreement. 

If something were to change and an agreement was broken or minds we're changed,  the funds would be stuck in escrow until court order,  either initiated by the principals or the escrow company. 

Thanks Dylan! 

Well, the son was clearly not an owner, but only a tenant, it seems. So, if you used a CAR contract with the transaction, you would probably have recourse but I would call the Broker of the realtor's office, if the agent won't help. If not, report to the BRE and start the eviction process with the 3 day notice like I posted above. :)

Best of luck!

Hey @Daniel Shaw, lets connect and maybe I can help some?

You cannot list a property you don't own, you are assigning your interest in the contract, not the property. That is a fine line in this business to avoid problems. :)

You could try as a trespasser but did he live there before COE and just stayed instead of leaving with the parents?

I learned a term recently  Tenants at sufferance

Under this term you can give a 3 day notice to quit, read more here:

http://www.justanswer.com/real-estate-law/7plu6-i-m-california-property-squatters-not-tenants.html

"...how much notice to be given to a tenant at sufferance? "A tenant at sufferance ... is entitled to no notice before an unlawful detainer action is commenced. See Roberts v. Casey (1939) 36 Cal. App.2d Supp. 767, 775 [93 P.2d 654].

7) But one may still give them - say - a three day notice just to make sure that they have NO RECOURSE at all.

8) Example: , under NOTICE TO QUIT, typed:

"As tenants at sufferance by default, you have no right to a notice (Roberts v. Casey (1939) 36 Cal. App.2d Supp. 767, 775 [93 P.2d 654]) but are being given a THREE DAY NOTICE anyhow, to quit, before an unlawful detainer is filed."

@Account Closed and over 90 others from BP are personally familiar with me. :)

I can handle escrows in all of Cali and have quite a few NorCal clients simply because of my ability to double close.

B-C deal will have a title report on my escrows, too.

In instances like these, I have pulled the assignment fees out of the purchase escrow and had it in a holding escrow only and upon the close of the purchase, the holding escrow is close and disbursed. This is also a good way to get the money away from being tied up with the seller and buyer mutual agreement on releasing money since it is not "due" to either of them.

I think an agent is the probably the #1 "day job" even though it is rarely only that!

Being in Escrow, I have a fine line to walk before muddying the lines and my role, so investing has been hard to do. I am focusing on wholesaling to keep it simple since I can't handle my own deals and not too many Escrow Officers do what I do proficiently, so my niche has bumped me out of buying as an investor in my area.

The stepfathers atty seems to have been given the role of fiduciary over the property and his failure to pay the taxes and insurance are a problem. If that is the case, you can file a claim the Ca Bar and a request for reimbursement from the Client Security Fund (http://www.calbar.ca.gov/Attorneys/LawyerRegulation/ClientSecurityFund.aspx) .

Also, licensed fiduciaries are regulated by the Dept of Consumer Affairs, so you can file a complaint there, too.

It would appear that recoiurse could be sought from the stepfather and the fiduaciary if the ball was really dropped like this post suggests.