Creating Prescriptive Easements: A Guide to Property Rights and Usage
An overview of how prescriptive easements are created in California, the legal elements required, and the steps property owners can take to prevent unauthorized use of their land.
Tag Archives: Real Property
What is a Probate Referee
Probate referees are individuals appointed by the California State Controller as an officer of the court to appraise and determine the value of assets in an estate when someone passes away. This ensures that the assets are properly evaluated for tax purposes and equitable distribution among heirs. Probate referees are impartial and independent professionals with expertise in appraising various types of assets like real estate, stocks, bonds, and personal property. Purpose of a Probate Referee: Ensuring Accurate Asset Valuation The primary duty of a probate referee is to appraise and […]
1031 Exchanges Basics – A Comprehensive Guide to Tax-Deferred Property Transactions
Named after Section 1031 exchanges of the Internal Revenue Code (IRC), a 1031 exchange is a tax-deferred transaction that allows an investor to sell a property and reinvest the proceeds in a new property of like-kind without paying capital gains taxes on the sale at the time of the exchange. This provision applies to real estate and certain other types of property held for productive use in a trade or business or for investment. The tax liability is essentially rolled over into the replacement property. It’s important to note that […]
Understanding you Property Tax Bill
California’s secured property tax bill pertains to property taxes levied on real property (land and structures) that are secured by a lien on the property. These taxes are based on the assessed value of the property as determined by the county assessor. Understanding Secured Assessments The secured property tax bill typically includes the: i) General Tax levy, the base property tax rate, usually 1% of the assessed value of the property; ii) Voter-approved debt, additional taxes to repay bonds approved by voters for local projects such as schools, infrastructure, and […]
Exploring the Various Types of Commercial Leases
A commercial lease is a legally binding agreement between a landlord and a “business” tenant for the rental of commercial property. Unlike residential leases, which are typically used for renting homes and apartments, commercial leases are used for renting spaces intended for business purposes, such as churches, offices, retail stores, warehouses, or industrial facilities. Commercial leases can vary widely in terms of complexity and terms, depending on factors such as the type of property, location, market conditions, and negotiating leverage of the parties involved. It’s essential for both landlords and […]
Affordable Housing on Faith and Higher Education Lands Act of 2023
Also known as Senate Bill 4 (SB 4), the Affordable Housing on Faith Lands Act was enacted to facilitate the development of affordable housing on properties owned by religious organizations and higher education institutions. The intent is to streamline the approval process for affordable housing projects on such lands by providing “by-right” approval. Intent: Streamlining Approval for Affordable Housing on Faith and Education Lands A streamlined approval process for affordable housing developments on land owned by religious organizations and higher education institutions. This means that eligible projects meeting certain criteria […]
Church Bingo: A Guide to Regulations, Licensing, and Tax Exemptions
In California, church bingo is regulated under Penal Code §326.5, and churches must obtain a local bingo license before conducting any charitable bingo games. To host church bingo legally, a religious organization typically applies for a bingo license through the city or county where the games will be held, and local agencies often coordinate with the California Department of Justice’s Division of Gambling Control. Because licensing procedures and compliance requirements vary by jurisdiction, churches should review local ordinances and consult legal counsel familiar with California gaming laws to ensure full […]
Why Use Bushore Church Real Estate
By way of an introduction, we are a father-and-son California Real Estate team, having offices in both northern and southern California, working nearly exclusively for and with churches with their real estate needs for over forty (40) years. We focus on nearly all matters concerning Church Real Estate, including religious, nonprofit, and tax-exempt organizations with the highest spiritual and ethical standards. Over decades of carving out a name for ourselves amongst church groups, we found a niche by locating and/or uniting church property buyers, sellers, landlords, and tenants. Along the way, […]
Asbestos
Asbestos is a naturally occurring mineral that was once widely used in construction materials for its heat resistance and durability. However, prolonged exposure to asbestos fibers can lead to serious health issues, including lung cancer, mesothelioma, and asbestosis. Asbestos is still present in many structures and is still used in some industrial processes and commercially available products. Cal/OSHA:The Department of Industrial Relations’ Division of Occupational Safety and Health is a state agency responsible for ensuring workplace safety and health in California. Its primary mission is to promote and enforce occupational […]
California Land Trust
In California, a land trust refers to a legal arrangement where real estate property is transferred to a trust for management and administration. Land trusts in California are typically established for purposes such as privacy, asset protection, and estate planning. When a property is placed into a land trust, legal title to the property is held by the trustee of the land trust, who manages the property on behalf of the beneficiary. The beneficiary retains all of the benefits of owning the property, such as the right to occupy or […]