AB 1406: Attached residential condominium sales: liquidated damages.
- Session Year: 2025-2026
- House: Assembly
- Latest Version Date: 2026-01-22
Current Status:
In Progress
(2026-01-29: In Senate. Read first time. To Com. on RLS. for assignment.)
Introduced
First Committee Review
First Chamber
Second Committee Review
Second Chamber
Enacted
Version:
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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