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CA AB2430
Bill
Status
Passed
7/23/2014
Primary Sponsor
Brian Maienschein
Click for details
AI Summary
- Requires common interest development associations to separately state and bill document disclosure fees from other charges related to transfer or sales transactions.
- Authorizes associations to collect reasonable fees based on actual costs for procuring, preparing, reproducing, and delivering required disclosure documents, with no additional charge for electronic delivery.
- Requires sellers to provide prospective purchasers with current copies of required documents that the seller possesses at no cost, and prohibits bundling these documents with other transaction-related documents.
- Mandates that associations provide written or electronic fee estimates prior to processing document requests and issue refunds if requests are canceled before work begins or for work not performed.
- Establishes that sellers are responsible for compensating associations, persons, or entities providing required disclosure documents to prospective purchasers, with each document fee itemized individually.
Legislative Description
Transfer disclosures.
Last Action
Chaptered by Secretary of State - Chapter 185, Statutes of 2014.
7/23/2014
Committee Referrals
Judiciary5/22/2014
Rules5/15/2014
Judiciary4/30/2014
Housing and Community Development3/20/2014
Full Bill Text
No bill text available