Page 13 - Loading

Deeds: Revocable transfer on death deed law extended for one year
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 dicult economic consequences. 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 codied as Probate Code Section 5600 et seq.
Disclosure: Disclosure and point-of-sale compliance re wild􏰀re 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 signi􏰀cant provisions become eective January 1, 2021.
Requires delivery of a statutory disclosure re home hardening for homes in designated high 􏰀re areas built before 2010, and that seller list speci􏰀ed retro􏰀ts.
Requires seller of property located in designated high 􏰀re 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
New Laws 2021 11