Legal Question in Business Law in California

Re: joint venture

The answer to your question largely depends on the contents of the jv agreement.

However, given the time sensitive nature of ud actions, it is imperative for you to seek the assistance of competent counsel in your area immediately.

Re: joint venture

You may have a case against them based upon violation of the Home Equity Purchase statutes. Please call me if you have any questions.

Re: joint venture

Yes they can. You need to respond to the summons. Call me directly at 16192223504.

Re: joint venture

Did you have an attorney review the papers that you originally signed? You may be the victims of a scam. Call an attorney in your locality without delay.

Re: joint venture

What are the terms of your joint venture agreement? Your rights and those of the company will largely depend upon these terms.

I'll go out on a limb and guess that you didn't have a lawyer review the agreement when you signed it. If I'm right, that was a big mistake. There is a chance that the company tricked you into signing away more rights than you wanted to give them.

You may be able to get out of this mess, but to do so you will need competent counsel *immediately*.

Re: joint venture

As you probably know, unlawful detainer suits move at a fast pace, and you must observe all the short time limits for answering the complaint and serving your answer on the plaintiff.

An unlawful detainer suit can be brought and won only by a party that has a superior right to possession of the property. If you both remained owners and entered into a lease agreement in which you leased from your jv partner whatever rights to possession it had, it is hard to imagine that there is a lawful ground upon which you can be evicted.

A lawyer representing you would want to see the UD complaint to see exactly what it alleges. Then, you lawyer would have to review the supposed joint venture. I'll bet its terms are highly unfavorable to you.

This deal could amount to a disguised home equity sales contract, a regulated and often abused type of transaction in which a home owner facing foreclosure sells to a buyer which is neither the lender nor a person who plans to make the property his/her own primary residence. Such contracts are described and regulated in Civil Code sections 1695.1 to 1695.17. If your so-called joint venture agreement could be classified as a home equity sales contract, and unless it meets strict requirements, it is illegal and you can rescind it within two years.

You should probably try to find a lawyer that has some prior experience in handling home equity sales scams.