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CA AB717
Bill
Status
5/18/2023
Primary Sponsor
Carlos Villapudua
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AI Summary
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Authorizes courts to include information about revocable living trusts and transfer on death deeds as nonprobate alternatives for transferring real property in their interactive computer systems for pro per litigants.
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Requires the California Housing Finance Agency to provide information on revocable living trusts and revocable transfer on death deeds to home buyers participating in the home purchase assistance program through education courses, websites, or written disclosures.
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Requires the California Dream for All Program's borrower education program to include information on revocable living trusts and revocable transfer on death deeds for borrowers of shared appreciation loans.
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Establishes legislative findings that low- and moderate-income households are less likely to have estate plans and that revocable living trusts and transfer on death deeds offer cheaper alternatives to probate for wealth preservation.
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Makes an appropriation by expanding the use of continuously appropriated funds in both the Home Purchase Assistance Fund and California Dream for All Fund to cover costs of providing trust and deed information.
Legislative Description
Trusts: information.
Last Action
Ordered to inactive file at the request of Senator Hurtado.
9/13/2023