Following the acquisition or financing of a property, most parties to the transaction are happy to circulate the “Congratulations!” missives as soon as the closing has occurred – the seller has their proceeds, the buyer/borrower has their property and/or the loan funds, and the prior financing(s) have been paid off… but the champagne corks shouldn’t be popped quite yet. There is one crucial post-closing item that too often gets overlooked and, if not addressed, can cause headaches rivaling a hangover down the line – recording the satisfaction or discharge of mortgage.

Continue Reading Failing to File a Satisfaction of Mortgage – The Afterthought That Can Haunt Your Property…

California usury law is addressed in multiple places: the California Constitution, statutes, case law, and initiative measures. Due to the patchwork nature of this body of law, differing interpretations and ambiguity are commonplace. In one recent case currently on appeal, the Ninth Circuit has asked the California Supreme Court to clarify California law in order to resolve a split in the federal district courts around the obligation of lenders that are otherwise exempt from California usury limitations to disclose compound interest terms as part of a lending transaction. The determinations of the California Supreme Court are likely to impact existing and future commercial loans governed by California law.

Continue Reading California Usury Law: A Search for Clarity around Compound Interest