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The California Real Estate Association also supported California Proposition 10 on the November 1950 election ballot (adding Article 34 to the California Constitution and known as the "Public Housing Project Law") which made it significantly more difficult to build low-rent housing projects in California communities. [13]
In instances where the number of registered voters within a Community Facilities District is very small, the required election is held as a property owner election. Sometimes a real estate developer is the only "voter" in such property owner elections that approve a Mello-Roos tax. Once approved, a Mello-Roos Community Facilities District is ...
Owners of commercial real estate benefited under the original rules of Proposition 13: If a corporation owning commercial property (such as a shopping mall) was sold or merged, but the property stayed technically deeded to the corporation, ownership of the property could effectively have changed without triggering Proposition 13's reassessment ...
Assessed value: The value of real estate property as determined by an assessor, typically from the county. "As-is": A contract or listing clause stating that the seller will not repair or correct ...
Malum prohibitum (plural mala prohibita, literal translation: "wrong [as or because] prohibited") is a Latin phrase used in law to refer to conduct that constitutes an unlawful act only by virtue of statute, [1] as opposed to conduct that is evil in and of itself, or malum in se. [2]
Peter Vanek, president of PVRK, a Southern California-based real estate consulting company, said his home was destroyed by a battery fire in 2023. His insurance initially estimated $350,000 for ...
A real estate license must be obtained from the DRE in order to engage in the real estate business and to act in the capacity of a real estate broker or salesperson within the State of California. Before applying for a license, all education and experience requirements mandated by the Department must be fulfilled. [ 5 ]
With home prices still on the rise in every region of the U.S., 63% of homeowners say they'd rather remodel their homes than move to renovated homes, according to an October survey by Clever Real...