AB 905 — Time-shares: public report: real property inspection.

Summary

Existing law, the Vacation Ownership and Time-share Act of 2004, requires a developer, defined as a person who creates a time-share plan or is in the business of selling time-share interests, to prepare, for issuance by the Real Estate Commissioner, a public report that discloses certain facts concerning the developer and time-share plan and to provide a copy of the public report in writing to each purchaser of a time-share interest in a time-share plan at the time of purchase. Existing law requires a developer who offers a purchaser the opportunity to subscribe or become a member of an exchange program to provide the purchaser with specified disclosures in writing. Existing law makes a violation of the public report disclosure requirement a public offense. This bill would require the developer to provide the purchaser with the public report or other disclosures in writing or in a digital format at the discretion of the purchaser. By changing the definition of a crime, this bill would impose a state-mandated local program. Existing law provides that it is the duty of a real estate broker or salesperson to a prospective purchaser of residential real property comprising one to 4 inclusive, residential dwelling units or a manufactured home, to make a reasonably competent and diligent visual inspection of, and disclosure regarding, the property, as specified, except for transfers that are required to be preceded by the furnishing of a copy of a specified public report and to transfers that can be made without a specified public report, unless the property has been previously occupied. This bill would also create an exception for a transfer that is required to be preceded by the furnishing of a copy of the public report required pursuant to the above-described act, unless the property has been previously occupied. The California Constitution requires the state to reimburse local agencies and school districts for certain costs mandated by the state. Statutory provisions establish procedures for making that reimbursement. This bill would provide that no reimbursement is required by this act for a specified reason.

Bill Text

• Chaptered 07/14/15 - Chaptered Current pdf July 14, 2015
• Enrolled 06/29/15 - Enrolled pdf June 29, 2015
• Introduced 02/26/15 - Introduced pdf February 26, 2015
• AB905 View text html

Action History

1. July 14, 2015

   Chaptered by Secretary of State - Chapter 88, Statutes of 2015.

2. July 14, 2015

   Approved by the Governor.

3. July 02, 2015

   Enrolled and presented to the Governor at 1 p.m.

4. June 25, 2015

   In Assembly. Ordered to Engrossing and Enrolling.

5. June 25, 2015

   Read third time. Passed. Ordered to the Assembly. (Ayes 37. Noes 0. Page 1620.).

6. June 23, 2015

   Read second time. Ordered to Consent Calendar.

7. June 22, 2015

   From committee: Be placed on second reading file pursuant to Senate Rule 28.8 and ordered to consent calendar.

8. June 10, 2015

   From committee: Do pass and re-refer to Com. on APPR. with recommendation: To Consent Calendar. (Ayes 7. Noes 0.) (June 9). Re-referred to Com. on APPR.

9. May 14, 2015

   Referred to Com. on JUD.

10. April 30, 2015

    In Senate. Read first time. To Com. on RLS. for assignment.

11. April 30, 2015

    Read third time. Passed. Ordered to the Senate. (Ayes 77. Noes 0. Page 1225.)

12. April 23, 2015

    Read second time. Ordered to Consent Calendar.

13. April 22, 2015

    From committee: Do pass. To Consent Calendar. (Ayes 17. Noes 0.) (April 22).

14. April 14, 2015

    From committee: Do pass and re-refer to Com. on APPR. with recommendation: To Consent Calendar. (Ayes 14. Noes 0.) (April 14). Re-referred to Com. on APPR.

15. March 16, 2015

    Referred to Com. on B. & P.

16. February 27, 2015

    From printer. May be heard in committee March 29.

17. February 26, 2015

    Read first time. To print.

Sponsors

• Beth Gaines · Primary

Votes

Subjects