YOU HAVE QUESTIONS, WE HAVE ANSWERS! VIVA ESCROW Q & A SEGMENT (Real questions sent to us – verbatim!) QUESTION: I was given a signed Quitclaim Deed to a small piece of property as the person could not pay me for money I loaned him. How can I tell if this document was prepared correctly? … Read more
Selling a City of LA property after April 1, 2023? Here is what you need to know: Payment of City Transfer Tax$4,999,999 sales price @ 0.45% = $22,500.00$5,000,000 @ 4.45% = $222,500.00 Here is the link to the City provided Calculator And this does not even take into account the County Transfer Tax What a … Read more
Rainstorms and blizzards. Is this California? YOU HAVE QUESTIONS, WE HAVE ANSWERS!VIVA ESCROW Q & A SEGMENT(Real questions sent to us – verbatim!) I rarely do a Q & A for a Bulk Sale (Sale of a Business) transaction, so here is a good chance to cover a very important but overlooked part of such … Read more
Another New Year! Happy Year of the Rabbit! YOU HAVE QUESTIONS, WE HAVE ANSWERS! VIVA ESCROW Q & A SEGMENT(Real questions emailed/called in to us) QUESTION: (Part 1 of 2) In a Trust Deed, does the Trustee always have to be a separate escrow company? Or can a Lender hold the Trust Deed in their own … Read more
A Happy 2023 To All! And to start the new year out with a bang, Viva Escrow is announcing that we will be relocating our office, effective date January 17, 2023, to the following location: 60 Alta Street, Suite 102, Arcadia, CA 91006 All emails, phone numbers, fax numbers will remain the same. We appreciate … Read more
Happy Holidays! Death and Taxes!!! Can’t escape them! QUESTION: I have a question regarding a Change in Ownership Statement on Death. Our client, now deceased, had property interests held in limited partnerships. Do we have to file? Is it required for a Change in Ownership on Death to be filed? Or is it required only … Read more
TIME TO BE HEARD – VOTE! I HAVE A QUESTION! IS HE A BUYER OR NOT? This is a very recent real case scenario, the purpose of this discourse is to alert Buyers, Sellers and Real Estate Agents that it is important that the standard fill-in-the-blanks forms used in a real estate transaction reflect the … Read more
The confusing and distracting California 593 Real Estate Withholding Tax Statement YOU HAVE QUESTIONS, WE HAVE ANSWERS! VIVA ESCROW Q & A SEGMENT (Real questions sent to us – verbatim!) QUESTION: i am selling a property i inherited and trying to fill out form 593 and i do not know how to answer RESPONSE: Note: … Read more
Bringing you rate news….. Interest rates are up, not only in mortgage loans, but also in IRS underpayments. It’s now 6% compounded daily for individuals. Yep. Can’t escape death, taxes and interest rates. https://www.irs.gov/pub/irs-drop/rr-22-15.pdf YOU HAVE QUESTIONS, WE HAVE ANSWERS! VIVA ESCROW Q & A SEGMENT (Real questions sent to us – verbatim!) Title insurance? … Read more
Withholding Withholding Withholding! I am always surprised at all the questions I get regarding the foreigner withholding. But then, this is California and we like to tell everyone that we do more sale transactions in a year than the other states combined. Whether this is true or an exaggeration, it sure feels like it! And … Read more