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Law Office of Kristina M Reed selected for 2017 Sacramento Small Business Excellence Award

Sacramento,CA – November 30, 2017 — Law Office of Kristina M Reed has been selected for the 2017 Sacramento Small Business Excellence Award in the Lawyers classification by the Sacramento Small Business Excellence Award Program.

Various sources of information were gathered and analyzed to choose the winners in each category. The 2017 Sacramento Small Business Excellence Award Program focuses on quality, not quantity. Winners are determined based on the information gathered both internally by the Sacramento Small Business Excellence Award Program and data provided by third parties.

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Q: The Seller terminated the contract and delivered a Cancellation of Contract, Release of Deposit and Joint Escrow Instructions (CC) to the Buyer, providing that the earnest money deposit (EMD) be released to the Seller.  Buyer refuses to sign it. Seller believes that the Seller is entitled to the EMD.  Why wont the escrow officer release the EMD without a CC signed by both parties?

A: An escrow agent is a neutral third party in the transaction and cannot act upon a unilateral request by either a seller or a buyer to release the EMD. Since the escrow agent is a neutral third party, the escrow agent cannot decide who is entitled to receive the EMD. Neither the Residential Purchase Agreement and Joint Escrow Instructions (“RPA”) nor California law give an escrow agent the authority to become a judge and listen to each paterms-and-conditionsrty’s side of the story and determine who is entitled to receive the EMD. If an escrow agent did make such a factual and legal determination, that escrow agent would have breached their fiduciary duties and could be subject to a “breach of fiduciary duty” lawsuit by the party who lost the EMD.

Q: Now the Buyer has delivered a CC to the Seller.  The CC states that Buyer should receive back his EMD.  The Seller refuses to sign this version and everyone is arguing with one another.  What should a Buyer or Seller do?

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Kristina Michelle Reed has been selected to the Northern California Super Lawyers list for the 5th year in a row. Each year, no more than five percent of the lawyers in the state are selected to receive this honor.

Super Lawyers is a rating service of outstanding lawyers from more than 70 practice areas who have attained a high degree of peer recognition and professional achievement. The annual selections are made using a patented multiphase process that includes a statewide survey of lawyers, an independent research evaluation of candidates and peer reviews by practice area. Each candidate is evaluated on 12 indicators of peer recognition and professional achievement.

Bar associations and courts across the country have recognized the legitimacy of the Super Lawyers selection process. Most recently, the New Jersey Supreme Court upheld the findings of a Special Master assigned by the court to, among other things, examine the details of the Super Lawyers’ process. In his July 2008 report, the Special Master lauded Super Lawyers’ lawyer-rating process, stating:

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DO

  • Fully, completely and truthfully complete the Transfer Disclosure Statement (“TDS”) and the Seller Property Questionnaire (“SPQ”).  As a general rule, all sellers of residential real estate property containing one to four dwelling units must complete and provide writteReal-estate-seller-disclosuren disclosures to the Buyer. There are a few exceptions, such as properties that are transferred by court order or from one co-owner to another. But if the Seller is offering their home to the public for sale, count on this requirement applying. (California Civil Code Sections 1102, 1102.2, 1102.3)  The benefit to you as the Seller is that by thoroughly disclosing more information to the Buyer, it becomes more difficult for the Buyer to later complain that you withheld material information about the property.
  • Review the TDS and SPQ to ensure that each question is completely answered. Review the TDS and SPQ with a critical eye of the average buyer.  Make sure that you checked either “yes” or “no” to each question and provided explanations for each item checked “yes.”  Providing the Buyer with an incomplete TDS or SPQ can create a new right for the Buyer to cancel when you provide more information in response to a Buyer’s follow-up questions do to an incomplete response.
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Kristina Michelle Reed has been selected to the Northern California Super Lawyers list for the 4th year in a row. Each year, no more than five percent of the lawyers in the state are selected to receive this honor.

Super Lawyers is a rating service of outstanding lawyers from more than 70 practice areas who have attained a high degree of peer recognition and professional achievement. The annual selections are made using a patented multiphase process that includes a statewide survey of lawyers, an independent research evaluation of candidates and peer reviews by practice area. Each candidate is evaluated on 12 indicators of peer recognition and professional achievement.

Bar associations and courts across the country have recognized the legitimacy of the Super Lawyers selection process. Most recently, the New Jersey Supreme Court upheld the findings of a Special Master assigned by the court to, among other things, examine the details of the Super Lawyers’ process. In his July 2008 report, the Special Master lauded Super Lawyers’ lawyer-rating process, stating:

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Everyone who has ever used the internet to download a program or gain access to a service has had to read and agree to Terms of Service (TOS). In certain circumstances, they might be called an End User License Agreement (EULA). Both types of agreements accomplish roughly the same things: they outline the terms and conditions upon which a customer is permitted to utilize a good or service. Though often overlooked, they are integral cogs in the operation of a business and the delivery of products and services.terms-and-conditions.jpg

These types of agreements are binding contracts, just like any other. Specifically, they are called “adhesion contracts”. The difference between a regular contract and an adhesion contract is that in a regular contract, the customer is free to negotiate terms with the business entity. In an adhesion contract, the customer must agree to the terms outlined by the business entity, or else the customer will not have the privilege of utilizing the good or service at all. Another way to look at it is that typical contracts differ based on the interests of the parties negotiating their terms. An adhesion contract looks the same no matter whom the customer is.

Terms of Service are important tools for the successful business entity in that they make the customer operate by a defined set of rules that the business can dictate. Terms of Service also typically contain protections that the business entity doesn’t even know it needs: the so-called “fine print.” Fortunately, an experienced California business lawyer is an expert in drafting the fine print.

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Kristina Reed Appointed As A Heald College Paralegal Program Advisory Board Member

Kristina Reed has been appointed to Heald College’s Paralegal Program Advisory Board. Heald College only invites select legal professionals to serve as Advisory Board members. The Advisory Board assists Heald College with the development of the paralegal program curriculum by recommending additions, revisions or removal of various academic programs. The Advisory Board is instrumental in helping Heald stay abreast of current trends as the practice of law evolves.

“I am honored” says Kristina Reed. “Being a part of a successful education system that adds well qualified professionals to the legal industry is truly amazing. I am proud to offer my experience and assistance.”