Bill Text: CA AB892 | 2019-2020 | Regular Session | Introduced

NOTE: There are more recent revisions of this legislation. Read Latest Draft

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Bill Title: Transfers of real property.

Spectrum: Partisan Bill (Democrat 1-0)

Status: (Passed) 2019-09-20 - Chaptered by Secretary of State - Chapter 310, Statutes of 2019. [AB892 Detail]

Download: California-2019-AB892-Introduced.html

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CALIFORNIA LEGISLATURE— 2019–2020 REGULAR SESSION

Assembly Bill

No. 892

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Introduced by Assembly Member Holden

February 20, 2019

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An act to amend Section 1087 of the Civil Code, relating to real property.

LEGISLATIVE COUNSEL'S DIGEST

AB 892, as introduced, Holden. Transfers of real property.

The Real Estate Law establishes, within the Business, Consumer Services, and Housing Agency, the Department of Real Estate for the licensure and regulation of real estate brokers and salespersons. Existing law provides for the licensure of real estate appraisers by the Bureau of Real Estate Appraisers.

Existing civil law governing agency listings for the transfer of certain property prohibits a listing from being placed in a multiple listing service (MLS), as defined, unless authorized or directed by the seller in the listing.

This bill would make a nonsubstantive change to the provision that defines MLS.

Digest Key

Vote: MAJORITY   Appropriation: NO   Fiscal Committee: NO   Local Program: NO  

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Bill Text

The people of the State of California do enact as follows:

SECTION 1.

 Section 1087 of the Civil Code is amended to read:

1087.

 A multiple listing service (MLS) is a facility of cooperation of agents and appraisers, operating through an intermediary that does not itself act as an agent or an appraiser, through which agents establish express or implied contracts for compensation between agents that are MLS participants in accordance with its MLS rules with respect to listed properties in a listing agreement, or that may be used by agents and appraisers, pursuant to the rules of the service, to prepare market evaluations and appraisals of real property.