New Laws affecting California Real Estate that you should know about in 2011
There are some new laws coming out in 2011 that you need to know about as both a real estate agent and homeowner.
Now I'm not an attorney (at least not yet, anyway) but these are a few that jumped out at me first:
SB 1411 - This law provides that any person who knowingly and without consent credibly impersonates another actual person through or on an Internet Web site or by other electronic means (e.g., opening an e-mail account or an account or profile on a social networking Web site in another person's name) for purposes of harming, intimidating, threatening, or defrauding another person is guilty of a misdemeanor. The violation is punishable by a fine not exceeding $1,000 or by improsonment in a county jail not exceeding one year or by both. The injured person is authorized to bring a civil action against the perpetrator.
I wonder where the jurisdiction of the above law would be if the violater is in another state than the victim?
AB 1809 - This new law authorizes a home inspection to include, if requested by the client, a Home Energy Rating System (HERS) Program energy audit.
SB 183 - This law revises the TDS and MHTDS to include a disclosure regarding compliance with the smoke detectors and water-heater bracing laws (eliminating the need for separate disclosure forms). The TDS and MHTDS will also add a disclosure regarding carbon monoxide detection devices. This law enacts the Carbon Monoxide Poisoning Prevention Act of 2010. The law requires a carbon monoxide device (battery or hard-wired) to be installed in a "dwelling unit intended for human occupancy." A violation is punishable by a maximum fine of $200 for each offense. Owners of residential rental property must also comply with this law. Tenants are responsible to notify the owner of an inoperable or deficient carbon monoxide device. Installation Time Period: * On or before July 1, 2011 for existing single-family dwelling units * On or before Jan. 1, 2013 for all other existing dwelling units
SB 1221 - Under existing law governing trustee sales, the Notice of Sale cannot be filed until at least 3 months after the filing of the Notice of Default (NOD). This new law permits the filing of a Notice of Sale up to 5 days before the lapse of the 3-month period provided that the actual date of the sale is no earlier than 3 months and 20 days after the filing of the NOD.
SB 1087 - This law requires a defendant convicted of the crime of identity theft to pay restitution to the identity theft victim. The court order by the criminal court will be enforceable as if the order were a civil judgment.
SB 931 - Prohibits a lender from seeking a deficiency judgement after a short sale is completed, unless the homeowner commits fraud or waste to the property
Why do I have a feeling that the interview process may be more in depth now with the short sale property owner? Just a hunch.
HR 5297 - Requires any landlord receiving rental income to report via 1099 any payments made to contractors in total excess of $600
AB 1762 - An advance fee is defined as a fee that is claimed or received by a real estate licensee from a principal before fully completing the services or a listing that the licensee contracted or represented would be performed. This law redefines the term by adding certain exemptions. In particular, it exempts limited service contracts for stand-alone services. This means a licensee may provide stand-alone services performed on a task-by-task basis, for which compensation is received as each separate, contracted-for task is completed. To qualify for this exclusion, all services performed under the contract must be described in subdivision (a), (b), or (c) of Cal. Bus. & Prof. Code 10131. A contract between a broker and a principal that requires payment of a commission to the broker after the contract is fully performed does not represent an agreement for an advance fee. In addition, the law exempts the advertising of real estate or a business opportunity from the advance fee prohibition provided the publication or electronic media is not under the control or ownership of the broker.
AB 1373 - This law cracks down on the mailed advertisements sent to property owners offering, for compensation, to provide a copy of the grant deed or other record of title by making it a crime unless certain disclosures are provided and the advertisement does't mislead a person into believing that the company is affiliated with a government agency.
For a complete list from C.A.R. of new laws and changes in 2011, click here:
http://www.car.org/legal/2011-new-laws/?redirectFrom=login
