AB 2136 Summary

• Ephemeral electronic messages such as text messages and instant messages cannot constitute a contract to convey real property unless accompanied by a written confirmation meeting statutory requirements.

• Qualified financial contracts between non-natural persons may be enforceable without writing if there is sufficient evidence of the contract, including electronic communications, written confirmations, admissions in court, or other written documentation.

• Real estate brokers are no longer required to retain electronic messages of an ephemeral nature as part of their mandatory three-year record retention requirement under Business and Professions Code Section 10148.