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Sound Legal Advice for a Changing Market

Shrem Law Group is a boutique Northern California law firm that specializes in Business Law, Intellectual Property, Internet Law and Real Estate Law.  Our goal is to provide top legal advice at reasonable rates for Northern California residents.  We are ethical, reliable and honest.  We use cutting edge technology to provide our clients with prompt and reliable legal services.  Our clients range in size from individuals to large corporations.  We thank you for visiting the Shrem Law Group website and look forward to helping you with your legal needs.

Conservatorship Sale
Conservatorship sale is a type of real estate sale where the owner is still alive but is mentally no longer able to make her own decisions.  Conservatorship sales are often conducted through the probate court system and either have independent administration or require court approval.  Often a buyer must put 10% down and must buy the home as-is in a conservatorship sale. With a conservatorship sale, there are often very few disclosures or reports provided.

Copyright
A legal right to control how a creative work is used.  A copyright is intellectual property that usually applies to music and literature and is comprised of a number of exclusive rights, including the right to make copies, authorize others to make copies, make derivative works, sell and market the work and perform the work. 

Loan Modification
This is the process whereby a homeowner works out an arrangement with their lender to modify their home loan due to some economic hardship.  Most lenders, who are willing to offer a loan modification at all, will usually lower the monthly payments by extending the term of the loan, allowing interest only payments or reducing the interest rate for a fixed period of time.

Real Estate Foreclosure
Real estate foreclosure is the process by which a bank goes through the necessary legal steps to take ownership of a property that is in default or has delayed payments.  With real estate foreclosures, there will often be a sale at the "Court House Steps". This is where buyers who have 100% cash, usually in the form of a cashier's check, attempt to purchase the property for the outstanding balance prior to the bank entering the court house to finalize the foreclosure.  For buyers with all cash, there are some great real estate deals to be had with foreclosures.

Probate Sale
Probate sale is a type of real estate sale where the owner has died and did not put the home in a trust.  Much like a conservatorship sale, these probate sales must then be conducted through the probate court system and either have independent administration or require court approval.  Often, with a probate sale, a buyer must put 10% down and must buy the home as-is.  With probate sales, there are often very few disclosures or reports provided.

Real Estate Owned (REO) Property
A Real Estate Owned (REO) property sale is a property sale where the owner of the property is the bank that has foreclosed on the property.  Real Estate Owned properties are usually sold as-is with no disclosures or reports of any kind.  Real Estate Owned properties and homes are often in severe disrepair.

Short Sale
"Short Sale" means that the homeowner is selling the real estate property but owes more on the home than he can sell it for.  Short sales must be approved by the bank and are often delayed in closing or do not close at all.  Often, with short sales, the homeowner is trying to beat the clock and sell the property before it falls into foreclosure.

Trademark
A trademark, identified by the symbols TM or SM for a servicemark (not yet registered) and ® (registered), symbolizes that the item with which the trademark appears is being claimed by the owner of the trademark as intellectual property.  A trademark typically applies to a name, word, phrase, logo, symbol, design, image, or a combination of these elements.


Copyright 2009-2010 Jean Shrem and Shrem Law Group 
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Phone: (510)882-9992 / Jean@ShremLaw.com / Fax: (510)868-2620 
10835 San Pablo Avenue, Suite 202, El Cerrito, CA 94530
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