Bills

AB 968: Single-family residential property: disclosures.

  • Session Year: 2023-2024
  • House: Assembly

Current Status:

Passed

(2023-07-21: Chaptered by Secretary of State - Chapter 95, Statutes of 2023.)

Introduced

First Committee Review

First Chamber

Second Committee Review

Second Chamber

Enacted

Version:

Existing law requires that specified disclosures be made upon any transfer by sale, exchange, real property sales contract, lease with an option to purchase, any other option to purchase, or ground lease coupled with improvements, of any single-family residential property. Existing law, after July 1, 2022, requires that every contract for the sale of single-family residential real property contain a notice stating that any appraisal of the property is required to be unbiased, objective, and not influenced by improper or illegal considerations.

This bill would require a seller of a single-family residential property who accepts an offer for the sale of the single-family residential property within 18 months from the date that title for the single-family residential property was transferred to the seller to disclose to the buyer specified information, including any room additions, structural modifications, other alterations, or repairs made to the property since title to the property was transferred to the seller that were performed by a contractor and the name of each contractor with whom the seller entered into a contract with for the room additions, structural modifications, other alterations, or repairs, as specified. The bill would alternatively authorize a seller to satisfy these obligations by providing a list of room additions, structural modifications, other alterations, or repairs performed by, and provided by, the contractor with whom the seller contracted for the room additions, structural modifications, other alterations, or repairs. The bill would require the seller to provide a copy of any permit for any room additions, structural modifications, other alterations, or repairs to the buyer or, if the seller contracted with a third party and was not provided with a copy of the permits, by informing the buyer that information on permits may be obtained from a third party and providing the third partys contact information. The bill would specify that these provisions apply to the sale of a single-family residential property where the seller accepts an offer from a buyer to purchase the property on or after July 1, 2024.

Discussed in Hearing

Assembly Standing Committee on Judiciary6MIN
Mar 28, 2023

Assembly Standing Committee on Judiciary

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Bill Author

Bill Co-Author(s):

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