Bill Text: CA SB1051 | 2013-2014 | Regular Session | Chaptered
Bill Title: Buyer's Choice Act.
Spectrum: Partisan Bill (Democrat 2-0)
Status: (Passed) 2014-08-15 - Chaptered by Secretary of State. Chapter 198, Statutes of 2014. [SB1051 Detail]
Download: California-2013-SB1051-Chaptered.html
BILL NUMBER: SB 1051 CHAPTERED
BILL TEXT
CHAPTER 198
FILED WITH SECRETARY OF STATE AUGUST 15, 2014
APPROVED BY GOVERNOR AUGUST 15, 2014
PASSED THE SENATE AUGUST 4, 2014
PASSED THE ASSEMBLY JULY 3, 2014
AMENDED IN ASSEMBLY JUNE 17, 2014
INTRODUCED BY Senator Galgiani
(Coauthor: Assembly Member Garcia)
FEBRUARY 18, 2014
An act to repeal Section 1103.23 of the Civil Code, relating to
real property.
LEGISLATIVE COUNSEL'S DIGEST
SB 1051, Galgiani. Buyer's Choice Act.
Existing law, the Buyer's Choice Act, prohibits a mortgagee or
beneficiary under a deed of trust who acquired title to residential
real property improved by 4 or fewer dwelling units at a foreclosure
sale from requiring, directly or indirectly, as a condition of
selling the property, that the buyer purchase title insurance or
escrow services in connection with the sale from a particular title
insurer or escrow agent. Under existing law, a seller who violates
these provisions is liable to the buyer for an amount equal to 3
times all the charges made for the title insurance or escrow
services. Existing law makes the act operative until January 1, 2015.
This bill would delete the repeal of these provisions, thereby
making them operate indefinitely.
THE PEOPLE OF THE STATE OF CALIFORNIA DO ENACT AS FOLLOWS:
SECTION 1. Section 1103.23 of the Civil Code is repealed.
