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Although at times cumbersome, retention of all records is an essential duty of real estate agents and brokers. In fact, not only is it a duty of agents and brokers, it is also a legal requirement. Under California Business & Professions Code §10148, "A licensed real estate broker shall retain for three years copies of all listings, deposit receipts, canceled checks, trust records, and other documents executed by him or her or obtained by him or her in connection with any transactions for whi

In Thee Sombrero, Inc. v. Scottsdale Ins. Co. (No. E067505, filed 10/25/18), a California appeals court held that a property owner’s loss of the ability to use his property as a nightclub, based on revocation of a city’s conditional use permit (“CUP”), constituted covered property damage.In Sombrero, lessees operated a nightclub under the property owner’s conditional use permit from the City of Colton. A company hired to provide security negligently allowed admission to an armed patron, who shot

October 18, 2018 In Lat v. Farmers New World Life Ins. Co. (No. B282008, filed 10/16/18), a California appeals court held that the notice-prejudice rule precluded a denial of life insurance benefits based on the insured’s failure to give notice of disability as required under a disability premium waiver rider.In Lat, premiums for the insured’s life insurance policy were accumulated in an account from which the cost of the insurance was deducted monthly. If the account balance fell below the nex