AB 1406: Attached residential condominium sales: liquidated damages.
- Session Year: 2025-2026
- House: Assembly
- Latest Version Date: 2026-01-22
Current Status:
In Progress
(2026-06-29: In committee: Set, first hearing. Hearing canceled at the request of author.)
Introduced
In Committee
Awaiting First Chamber Vote
Passed First Chamber
In Committee
Awaiting Second Chamber Vote
Passed Second Chamber
Enacted
Existing law establishes that for the initial sale of a newly constructed condominium unit, as specified, the amount actually paid to the seller in the event of a buyers default pursuant to a liquidated damages provision that exceeds 3% of the purchase price of the residential unit is subject to specified requirements, including an accounting of the sellers costs and revenues, as specified.
This bill would delete the above-specified percentage and, instead, increase that percentage to 10%. 6%.
Discussed in Hearing
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