California Real Estate Fraud Report

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07
Jul

Los Osos Real Estate Broker is Target of Allegations of Fraud re: Septic Credits

Septic credits” occur when an old building is demolished in Los Osos and the owner can use the historical credit to re-build. The septic credits can be bought, sold and transferred from one parcel to another.

In Los Osos, when building isn’t impossible, it’s at least complicated.

Due to septic contamination of groundwater since 1988, developers, real estate brokers and their agents have used creativity to make projects happen. But because of the complexities, things can get complicated, leading to contract disputes and lawsuits when projects fair to complete.

The recent partnership between Los Osos real estate broker Jeff Edwards, of J.H. Edwards Company, and Fresno-based developer the Los Osos Investment Group, appears to have ended poorly. There are lawsuits betweens the former partners and accusations of “fraudulent conduct, negligence, and misrepresentation” made against Edwards by the California Bureau of Real Estate (BRE).

This is a very complex story, but one well-worth reading.

Read the original article in Full Times SLO.

© Copyright 2007-2017 Monique Bryher

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The information and notices contained on The California Real Estate Fraud Report are intended to summarize recent developments in real estate fraud, mortgage fraud, short sale fraud, REO fraud, appraisal fraud, loan modification scams, loan modification fraud and other real estate related crimes occurring in Los Angeles and California. The posts on this site are presented as general research and information and are expressly not intended, and should not be regarded, as legal advice. Much of the information on this site concerns allegations made in civil lawsuits and in criminal indictments. All persons are presumed innocent until convicted of a crime. Readers who have particular questions about real estate fraud, mortgage fraud and appraisal fraud matters or who believe they require legal counsel should seek the advice of an attorney.

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