Legislative Updates: Property Sales Summary
- Apr 26
- 2 min read
Next up in our series of legislative updates, here are all the bills proposed that impact property sales.
SB 911: This bill would expand existing requirements for sellers to provide buyers with information about compliance with fire safety measures and local vegetation management ordinances. Sellers would need to notify the buyer, but also notify the county assessor and provide a copy of the agreement. The assessor would then need to notify the local fire department to obtain compliance documents from their department as well.
SB 974: This bill would require the county assessor to determine if a person is eligible as a severely and permanently disabled complainant if requested by a certified special needs trust. It would authorize the county assessor to determine eligibility for transfer of property tax to a newly purchased or constructed residence.
AB 2145: This bill would authorize homeowners who have reached retirement age to transfer the interest rate and remaining loan terms to a new principal residence.
AB 1842: This bill would require mortgage providers to offer forbearance of payments for properties that have become uninhabitable due to an emergency for a period of up to 12 months. Borrowers would request forbearance in 90-day increments up to a maximum of 12 months.
AB 1850: This bill would expand the definition of a real estate broker to include people who purchase real property with the intent to sell to another person for profit or compensation. It also prohibits people from wholesaling without a valid real estate license.
AB 1957: This bill would repeal the prohibition on bundling foreclosed properties for sale in 2027 instead of in 2031.
AB 2198: This bill would require title insurers, underwriter title companies, and controlled escrow companies to display their rates both in physical form and electronically on their website.
SB 996: This bill would authorize mobile homes and manufactured homes to be classified as "real property" for the purposes of titling and taxation.
Contact your California Legislature members to voice support or concern for these measures. We've made it easy for you.
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