Law Office Of Allan J. Cory

Price Gouging in a Nutshell Price Gouging is governed by CA Law (Pen. Code 396). During or shortly after a declared state of emergency, price-gouging is defined as excessive and unjustified increases in the prices charged goods and services that are vital and necessary for the health, safety, and welfare of consumers.... The law is triggered when a State of Emergency is declared (Sonoma County on 10/9/17) and unless extended, lasts for a period of 30 days (except for reconstruction material which lasts for 180 days). Not everything is covered but hotels, rental housing, storage, transportation, food (for humans and for pets), medical and emergency supplies, and reconstruction materials fall within the law, and as such can’t increase price by more than 10% (unless the seller can demonstrate an increased cost that may then be passed along). The area covered is the area reasonably impacted by the emergency (so a motel in Marin would be likely be subject to limitation). The 30 day period may be extended by local or state officials for additional 30 day periods (as needed). The law is enforced by the Attorney General although a civil action prosecuted as an "unlawful business practice" and an act of unfair competition within the meaning of Section 17200 of the Business and Professions Code might also be brought directly by a consumer and/or the State of California.

My Latest Newsletter. ### Dodd-Frank Act Rescues an Escrow Ann Harris, a fantastic agent in Sebastopol, had a hiccup when a recent buyer-client had the typical lender credit run just before escrow closing. The report claimed the client was 30-days late on a mortgage payment, a deal killer with a ticking clock. Although the client had proof the payment was made by electronic debit the creditor stated it would take 30-days to research and/or resolve the matternot good. ...Continue reading

Call today from seller of property owned originally in a living trust...or so they thought. The trust creator deeded the property to the trust--not the trustee of the trust: Big Problem--stopped the sale. But Probate Code 850 has a path for resolution so not necessarily fatal. Lesson--if you have a trust there may be some legal nuances for deeding or transferring any after acquired assets into the trust.Call a lawyer!

Bulletin: Judge Jaroslovsky has retired from the bench after more than 30 years as the North Bay’s bankruptcy judge. What does this mean to RE professionals? I asked the panel of judges absorbing Judge J’s caseload if there will be any change in the prohibition of dual agency in bankruptcy trustee sales and I lobbied for reconsideration when the transaction is between agents of the same brokerage rather than the actual same agent on both sidestheir response: NO. Business ...Continue reading