Law authorizing simple procedure for transfer of property upon death is extended for one year.
The California Law Revision Commission issued its report on the Revocable Transfer on Death Deed (RTDD) in November 2019, recommending that a number of changes be made to the RTDD process,
but that overall the RTDD should be extended for another 10 years and that the CLRC do a further
study prior to that 10-year sunset. (CLRC, Revocable Transfer on Death Deed: Follow-Up Study (Nov. 2019).) However, given the COVID-19 pandemic, the Legislature’s focus has been on the health emergency and its very difficult economic onsequences.
It has not been on other less urgent matters, including the future of the RTDD and the CLRC report. To ensure that the RTDD can continue until the Legislature can fully review the CLRC report and recommendations, this law extends the January 1, 2021 sunset for one additional year, until January 1, 2022.
Senate Bill 1305 is codified as Probate Code; Section 5600 et seq.
More readings about Laws Affecting Realtors
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Disclosure: Disclosure and point-of-sale compliance re wildfire defensible space and vegetation
management laws, and home hardening.
This is a not a 2021 new law. It was passed last year. However, we are including it here because its most signicant provisions become effective January 1, 2021.
Requires delivery of a statutory disclosure re home hardening for homes in designated high fire areas built before 2010, and that seller list specied retrofits.
Requires seller of property located in designated high fire areas to provide buyer with documentation stating that the property is in compliance with local law pertaining to defensible spaces or local vegetation management laws. If there is no such local law, the seller shall provide documentation of compliance with state law, assuming the seller obtained such documentation within six months prior to entering into the transaction. But if neither of the above,the seller and the buyer must enter into a written agreement in which the buyer agrees to obtain documentation of compliance with defensible
space or a local vegetation management ordinance after close.
These disclosure requirements will apply to any property in which the Transfer Disclosure Statement is required to be delivered. TDS exemptions and cancellation rights apply.
Disclosures re Home Hardening Beginning January 1, 2020, if a seller, after completion of construction, has obtained a nal inspection report regarding compliance with, among other things,
home hardening...
The real estate market in the five MLSListings counties started with a bang in 2021, as nearly all market indicators were up compared to January 2020. Closed sales improved over the same month last year in every county; Santa Cruz showed a 29% improvement.
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Proposition 19, Simplified:
California Proposition 19 saw victory at the ballot box last November, and the new property tax breaks for some — and increases for others — will start affecting Californians in the coming months. Follow along as we break down some of the key aspects of this complex proposition. And for more in-depth information, check out the full Legal Q&A at on.car.org/prop19qa.
First off, who can take advantage of the tax portability benefits from Prop. 19?
All Californians who:
• Are over 55 years of age;
• Are severely disabled; or
• Own a home that has been substantially damaged due to wildfire or natural disaster.
For people in these groups, Prop. 19 made three significant changes to the way property taxes are calculated when they sell a principal residence and move into a new primary residence. What are those changes?
Sellers in these groups can now transfer the tax basis of their primary residence to a replacement property anywhere in the State of California. Previously, inter-county transfers were done on a limited basis.
Sellers in these groups can now transfer the tax basis of their sold property to their replacement property regardless of value. Previously, transfers had to be only to properties of equal or lesser value. (Some adjustments will be made if the property is of greater value.) Sellers and these groups may take advantage of this benefit up to three times — and victims of wildfires and other natural disasters have no limitations. Previously, sellers could only make use...
Requires billing of sub-metered customers at the actual rate of the utilities generating the electricity for entities acting within the territory of an electric corporation.
Current Law:
Currently, a master-meter customer is required to charge each user at the same rate that would be applicable if the user were receiving gas or electricity directly from the gas or electrical corporations.
If a master-meter customer receives a rebate for electrical or gas service, it is required to distribute the rebate to, or credit the rebate to the account of, current users served by the master-meter customer.
These rules relate to the responsibilities of a gas or electrical corporations and master-meter customers when gas or electrical service is provided by a mastermeter customer to users who are tenants of a mobile home park, apartment building, or similar residential complex. (Public Utilities Code §739.5)
New Law:
This law extends these existing protections for submetered customers of electrical corporations to all sub-metered customers, even where the entity providing the electricity is an electric load-serving entity operating with the territory of the electric corporation.
Senate Bill 1117 is codified as Public Utilities Code Section 739.5. Effective January 1, 2021.
More readings
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Considering a move to Pacific Grove California? Located between Pointe Pinots and Monterey, in offers numerous Victorian homes, cute little bed and breakfasts, and a wealth of fun and exciting things to do and see. But if you're planning a move you're probably wondering why other people chose to live in Pacific Grove as well? So, here they are, the five best reasons to live in Pacific Grove California.
#1, Monterey's peaceful coastal neighbor.
Pacific Grove sits on a peninsula just west of Monterey and the Monterey regional airport. It's its own little community, however with open spaces, museums, and a beautiful beach at the Asilomar State Beach Park. While it's obviously still in California, it seems like you stepped back in time with these gorgeous Victorian homes, darling little bed and breakfasts, Airbnb's, retirement communities, thrift shops, and boutiques.
#2. Call is P.G.
Locals call it P.G. but it's usually just to save energy. The Chamber of Commerce has labeled Pacific Grove Butterfly Town USA for the tens of thousands of monarchs who actually spend the winter here. It's America's last hometown for the 15,000 residents a call at home and Life magazine referred to Pacific Grove as America's "Most Romantic City". It's easy to see why as the cover photo on Life showed a pink blanket of ice plant blooming along the coast line, a true love letter from mother nature. This tranquil hamlet has been known as the Mayberry of the Monterey Peninsula. Once you spend a couple of weeks here, it's easy to see why most people never choose to move away. This beautiful little haven at the tip of the Monterey Peninsula, embodies a life all its own. Check out the Monarch Grove Sanctuary where over...
The requirement of providing a translated copy of a contract negotiated primarily in Spanish, Chinese, Tagalog, Vietnamese, or Korean, orally or in writing, is expanded to include any person signing the contract, not just the parties to the contract.
Current law requires that any person engaged in a trade or business who negotiates primarily in Spanish, Chinese, Tagalog, Vietnamese, or Korean, orally or in writing, in the course of entering into specified contracts, deliver to the other party to the contract or agreement, prior to the execution thereof, a translation of the contract or agreement in the language in which the contract or agreement was negotiated that includes a translation of every term and condition in that contract or agreement.
A lease, sublease, rental contract or agreement, or other term of tenancy contract or agreement, for a period of longer than one month, covering a dwelling, apartment, mobile home, or other dwelling unit normally occupied as a residence are included in the types of contracts to which the translation requirement applies.
However, currently there is no requirement to provide translated versions of the contract or agreement to co-signers or other nonparties to the contract who are nevertheless signing the contract.
This new law expands the translation...
Extends, from three to five business days, the right to cancel certain consumer contracts for persons 65 years of age or older, including the right to cancel a PACE lien contract.
The major provisions of this law include:
1) Defines a senior citizen as an individual who is 65 years of age or older.
2) Extends the buyer's right to cancel a home improvement contract to five business days if the buyer is a senior citizen. Prescribes the form and content of a notice of this right to cancel.
3) Extends the buyer's right to cancel a service and repair contract to five business days if the buyer is a senior citizen, unless specied emergency conditions exist. Prescribes the form and content of a notice of this right to cancel.
4) Extends the buyer's right to cancel a home solicitation contract to midnight of the fifth business day after the contract or oer is signed if the buyer is a senior citizen. Prescribes the form and content of a notice of this right to cancel.
5) Extends the buyer's right to cancel a seminar sales solicitation contract or offer to midnight of the fifth business day after the contract or oer is signed if the buyer is a senior citizen. Prescribes the form and content...
Carmel or Carmel-by-the-Sea is basically the same place. This city in Monterey California was founded in 1902 and incorporated in 1916 situated on the Monterey Peninsula. This 1 mi.² village is as unique in charm as it is fun and entertaining residents. One fun fact is that unwilling to see their village become too engulfed in the city culture, Carmel's founding fathers rejected the practice of house to house mail delivery in favor of a central post office. And to this day, there are still no addresses, parking meters, street lights, or sidewalks outside of Carmel's downtown commercial area. You're likely to hear neighbors call out directions such as it's the second house on the right past the driftwood fence and so forth.
Often referred to as simply Carmel, there are still a few neighborhoods that are becoming quite popular or have fluctuated with the ebb and flow of today's society. If you're considering a move to Carmel, here are some of the top five neighborhoods for 2021.
Located just south of downtown, technically outside of the city limits, this beautiful small peninsula offers unobstructed views of Carmel Bay, the Peninsula up along the Pebble Beach and south to Point Lobos and Pine Ridge. This community features the Carmel River elementary school, a few bed and breakfasts, inns and Mara Beach Carmel. You won't find any fussy homeowner association dues or major restrictions but all these homes are already built out so if you're looking to customize a property on Carmel Point, you'll probably have to find an older home that needs a major renovation. Properties on Carmel point offer stunning views, especially those along scenic road to the...
