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The Effect of SNDAs in Commercial Leases at a Foreclosure Sale

A tenant’s rights and obligations after foreclosure will depend on whether the lease had priority over the deed of trust (“DOT”) or mortgage in foreclosure. (See RNT Holdings, LLC v. United General Title Insurance Company, 230 Cal. App. 4th 1289 (2d Dist. 2014).) Ordinarily, when a DOT or mortgage has priority over a subsequent lease, the lease is terminated by the foreclosure of the DOT. Thus, the tenant would no longer have a right to possession. However, a lease that is recorded prior to the DOT has priority over that DOT and will normally be unaffected in the event that the DOT is foreclosed on. The result is that the purchaser from a foreclosure sale will have title that is subject to the lease. (See

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Posted in Commercial Lease, Foreclosure, Leases

The Importance of Knowing Your Real Estate Professionals

Nearly every person involved in a real estate transaction, with the exception of the buyer and seller, will need to maintain a professional license of some kind. At considerable taxpayer time and expense, databases for most of these licensed professionals are available online and can be searched by name, license number, or both. A prudent buyer or seller owes it to themselves to search these databases for every professional involved in their transaction. These databases can usually be found through a simple Internet search. To help begin your search, here are some links to databases for the professionals most commonly involved in real estate transactions: Real Estate Agent Real Estate Brokerage Escrow Company Real Estate Appraiser Real Estate Lenders Structural Pest Control Inspector General Contractor

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Posted in Real Estate Attorney

Continued Tax Relief for Short Sellers?

In a short sale a lender forgives a portion of a borrower’s debt by allowing a property tax relief to be sold at less than the amount owed by the borrower.  Often times, as part of a short sale, the lender will then forgive the debt. For example, if a borrower owes $1 million on a home mortgage but their house is only worth $900,000, the borrower is sometimes able to negotiate with the bank to accept a sale to a third party for $900,000 as payment in full on the borrower’s obligation.  Ordinarily, if the lender accepts less than the full amount owed – $900,000 of $1 million in this example – then the borrower is taxed on  the $100,000 debt forgiveness as ordinary income.

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Posted in Mortgage Lender Dispute, Short Sale

Zachary D. Schorr’s Expert Appearance on the Dr. Phil Show

Zachary D. Schorr’s Expert Appearance on ABC’s Nightline

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Zachary Schorr Superlawyers

Zachary D. Schorr has been named to the Southern California Super Lawyers (Rising Stars) list for attorneys in Real Estate for 5 straight years - 2012, 2013, 2014, 2015 and 2016. Each year, no more than 2.5 percent of the lawyers in the state receive this honor. In 2016 he was also included as one of the top 100 lawyers in Southern California in this category. The selection for this respected list is made by the research team at Super Lawyers.

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If you are currently involved in a real estate dispute, either commercial real estate or residential, and are looking for a Real Estate Attorney in Los Angeles with a cost-effective, results oriented approach designed to meet your case's specific needs, contact the attorneys at Schorr Law. Our real estate firm has the specific knowledge and experience necessary to get you the best possible results.

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