Asset Management Consultants v. McCready CA2/1
According to an arbitrator’s ruling, however, respondents disclosed to appellants that they were doing exactly that. For example, one disclosure stated, “The purchase price of the property being acquired by the Co-Owners includes a commission to be paid to AMC by the Seller (see ‘Manager’s Compensation and Fees’). Accordingly, the Seller would have sold the property for a lower Purchase price if it were not obligated to pay such commission.” And appellants waited eight years to file their demand for arbitration against respondents. Recently, in Stella v. Asset Management Consultants, Inc. (2017) 8 Cal.App.5th 181 (Stella), another appeal arising from this set of real estate transactions, the court found the disclosures commenced the statute of limitations and that the plaintiff’s claim was thus time-barred. This court came to a similar conclusion in WA Southwest 2, LLC v. First American Title Ins. Co. (2015) 240 Cal.App.4th 148 (WA Southwest 2).
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