Proposed New Disclosure Law

The California Legislature is currently considering SB652, which would amend Civil Code §1102.3b, and require additional disclosures by a seller.  The amendment would provide that a seller of any real estate who is required to prepare a Transfer Disclosure Statement must disclose all claims for damages made by the transferor pursuant to SB800 and the status of such claims.  SB800 is a statutory scheme set forth in Civil Code §895, et seq., which is directed to construction defects and lawsuits asserted against builders.

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