New Real Estate Laws in 2014: Dozens of new California laws that either directly or indirectly impact real estate transactions and REALTORS® will go into effect in 2014.
The California Association of REALTORS® legal department has released a summary of these laws including:
- New requirements for smoke detectors;
- Construction defect litigation will be included in the Transfer Disclosure Statement;
- New disciplinary action for Broker Record tampering;
- New consumer protections against prepaid rental listing services;
- Increased insurance requirements for structural pest control;
- Landlords will be required to provide utility rate schedules to tenants;
- Revised billing statement for HOA documents;
- Condominium manager exemption from the state contractors law; and
- Local code enforcement officers will be authorized to determine if housing is "substandard."
For a complete summary of new real estate laws please click here.
NOTE: You will need to log-in to the C.A.R. website to review the summary