{"id":7382,"date":"2023-10-05T22:45:45","date_gmt":"2023-10-05T20:45:45","guid":{"rendered":"https:\/\/albermoya.com\/?p=7382"},"modified":"2023-10-06T00:15:03","modified_gmt":"2023-10-05T22:15:03","slug":"contracts-real-estate-california","status":"publish","type":"post","link":"https:\/\/albermoya.com\/en\/contracts-real-estate-california\/","title":{"rendered":"Agreements, Contracts &amp; Title Transfers in Real Estate in California"},"content":{"rendered":"<div id=\"ez-toc-container\" class=\"ez-toc-v2_0_82_2 counter-hierarchy ez-toc-counter ez-toc-grey ez-toc-container-direction\">\n<div class=\"ez-toc-title-container\"><p class=\"ez-toc-title\" style=\"cursor:inherit\">Table of Contents<\/p>\n<\/div><nav><ul class='ez-toc-list ez-toc-list-level-1' ><li class='ez-toc-page-1 ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-1\" href=\"https:\/\/albermoya.com\/en\/contracts-real-estate-california\/#Contratos_entre_el_Broker_y_el_Salesperson_Relacion_y_obligaciones\" >Contracts between Broker and Salesperson: Relationship and Obligations<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-2\" href=\"https:\/\/albermoya.com\/en\/contracts-real-estate-california\/#Listing_Agreements\" >Listing Agreements<\/a><ul class='ez-toc-list-level-3' ><li class='ez-toc-heading-level-3'><a class=\"ez-toc-link ez-toc-heading-3\" href=\"https:\/\/albermoya.com\/en\/contracts-real-estate-california\/#Definiciones_BPC_10027_Ref_105\" >Definitions (GCP 10027; Ref 105)<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-3'><a class=\"ez-toc-link ez-toc-heading-4\" href=\"https:\/\/albermoya.com\/en\/contracts-real-estate-california\/#Requisitos\" >Requirements<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-3'><a class=\"ez-toc-link ez-toc-heading-5\" href=\"https:\/\/albermoya.com\/en\/contracts-real-estate-california\/#Tipos_Ref_105_158\" >Types (Ref 105; 158)<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-3'><a class=\"ez-toc-link ez-toc-heading-6\" href=\"https:\/\/albermoya.com\/en\/contracts-real-estate-california\/#Entrega_del_acuerdo_BPC_10142\" >Delivery of the agreement (BPC 10142)<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-3'><a class=\"ez-toc-link ez-toc-heading-7\" href=\"https:\/\/albermoya.com\/en\/contracts-real-estate-california\/#Derecho_a_compensacion_Ref_155\" >Right to compensation (Ref 155)<\/a><\/li><\/ul><\/li><li class='ez-toc-page-1 ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-8\" href=\"https:\/\/albermoya.com\/en\/contracts-real-estate-california\/#Advanced_Fee_Agreements_Acuerdos_de_Tarifa_Avanzada\" >Advanced Fee Agreements<\/a><ul class='ez-toc-list-level-3' ><li class='ez-toc-heading-level-3'><a class=\"ez-toc-link ez-toc-heading-9\" href=\"https:\/\/albermoya.com\/en\/contracts-real-estate-california\/#Definiciones_Ref_277_BPC_10026_10085_100855_101132_10146\" >Definitions (Ref 277; GCP 10026, 10085, 10085.5, 10113.2, 10146)<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-3'><a class=\"ez-toc-link ez-toc-heading-10\" href=\"https:\/\/albermoya.com\/en\/contracts-real-estate-california\/#Requisitos_de_Escrow_BPC_10146\" >Escrow Requirements (BPC 10146)<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-3'><a class=\"ez-toc-link ez-toc-heading-11\" href=\"https:\/\/albermoya.com\/en\/contracts-real-estate-california\/#Materiales_y_contabilidad_CCR_2970_2972_BPC_10085\" >Materials and accounting (CCR 2970, 2972; BPC 10085)<\/a><\/li><\/ul><\/li><li class='ez-toc-page-1 ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-12\" href=\"https:\/\/albermoya.com\/en\/contracts-real-estate-california\/#Contracts_Contratos\" >Contracts<\/a><ul class='ez-toc-list-level-3' ><li class='ez-toc-heading-level-3'><a class=\"ez-toc-link ez-toc-heading-13\" href=\"https:\/\/albermoya.com\/en\/contracts-real-estate-california\/#Statuts_of_Frauds_Ref_95-97_CC_1624\" >Statuts of Frauds (Ref 95-97: CC 1624)<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-3'><a class=\"ez-toc-link ez-toc-heading-14\" href=\"https:\/\/albermoya.com\/en\/contracts-real-estate-california\/#Acta_Uniforme_de_Riesgo_para_el_Vendedor_y_el_Comprador_Ref_104_CC_1662_%E2%80%93_Uniform_Vendor_and_Purchaser_Risk_Act\" >Uniform Vendor and Purchaser Risk Act (Ref 104; CC 1662) - Uniform Vendor and Purchaser Risk Act<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-3'><a class=\"ez-toc-link ez-toc-heading-15\" href=\"https:\/\/albermoya.com\/en\/contracts-real-estate-california\/#Contrato_de_Venta_de_Bienes_Raices_Real_Property_Sales_Contract\" >Real Property Sales Contract (Real Property Sales Contract)<\/a><\/li><\/ul><\/li><li class='ez-toc-page-1 ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-16\" href=\"https:\/\/albermoya.com\/en\/contracts-real-estate-california\/#Title_Transfers_Transferencias_de_Titulo\" >Title Transfers (Title Transfers)<\/a><ul class='ez-toc-list-level-3' ><li class='ez-toc-heading-level-3'><a class=\"ez-toc-link ez-toc-heading-17\" href=\"https:\/\/albermoya.com\/en\/contracts-real-estate-california\/#Medios_para_adquirir_el_titulo_Ref_106-110\" >Means of acquiring the title (Ref 106-110)<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-3'><a class=\"ez-toc-link ez-toc-heading-18\" href=\"https:\/\/albermoya.com\/en\/contracts-real-estate-california\/#Seguro_de_titulo_Title_Insurance\" >Title Insurance<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-3'><a class=\"ez-toc-link ez-toc-heading-19\" href=\"https:\/\/albermoya.com\/en\/contracts-real-estate-california\/#Titulo_registro_notificacion_Ref_51_CC_2934\" >Title, registration, notification (Ref 51; CC 2934)<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-3'><a class=\"ez-toc-link ez-toc-heading-20\" href=\"https:\/\/albermoya.com\/en\/contracts-real-estate-california\/#Preliminary_report_Informe_preliminar_Ref_83-85_Ins_C_123411\" >Preliminary report (Ref 83-85; Ins C 1234.11)<\/a><\/li><\/ul><\/li><li class='ez-toc-page-1 ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-21\" href=\"https:\/\/albermoya.com\/en\/contracts-real-estate-california\/#Mortgages_Deeds_of_Trust_Notes_Hipotecas_Fideicomisos_en_Garantia_Pagos\" >Mortgages, Deeds of Trust, Notes (Mortgages, Deeds of Trust, Notes)<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-22\" href=\"https:\/\/albermoya.com\/en\/contracts-real-estate-california\/#Leases_Arrendamientos\" >Leases<\/a><ul class='ez-toc-list-level-3' ><li class='ez-toc-heading-level-3'><a class=\"ez-toc-link ez-toc-heading-23\" href=\"https:\/\/albermoya.com\/en\/contracts-real-estate-california\/#Term_Plazo\" >Term (Term)<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-3'><a class=\"ez-toc-link ez-toc-heading-24\" href=\"https:\/\/albermoya.com\/en\/contracts-real-estate-california\/#Security_deposit_Deposito_de_seguridad\" >Security deposit<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-3'><a class=\"ez-toc-link ez-toc-heading-25\" href=\"https:\/\/albermoya.com\/en\/contracts-real-estate-california\/#Obligaciones_del_propietario_Landlord_obligations\" >Landlord obligations<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-3'><a class=\"ez-toc-link ez-toc-heading-26\" href=\"https:\/\/albermoya.com\/en\/contracts-real-estate-california\/#Obligaciones_del_inquilino_Tenant_obligations\" >Tenant obligations (Tenant obligations)<\/a><\/li><\/ul><\/li><li class='ez-toc-page-1 ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-27\" href=\"https:\/\/albermoya.com\/en\/contracts-real-estate-california\/#Tax_Aspects_Aspectos_Fiscales\" >Tax Aspects<\/a><ul class='ez-toc-list-level-3' ><li class='ez-toc-heading-level-3'><a class=\"ez-toc-link ez-toc-heading-28\" href=\"https:\/\/albermoya.com\/en\/contracts-real-estate-california\/#Property_taxes_Impuestos_a_la_propiedad\" >Property taxes<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-3'><a class=\"ez-toc-link ez-toc-heading-29\" href=\"https:\/\/albermoya.com\/en\/contracts-real-estate-california\/#Impuestos_federales_Federal_taxes\" >Federal taxes<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-3'><a class=\"ez-toc-link ez-toc-heading-30\" href=\"https:\/\/albermoya.com\/en\/contracts-real-estate-california\/#Evaluaciones_especiales_Special_assessments\" >Special assessments<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-3'><a class=\"ez-toc-link ez-toc-heading-31\" href=\"https:\/\/albermoya.com\/en\/contracts-real-estate-california\/#Impuestos_estatales_State_taxes\" >State taxes<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-3'><a class=\"ez-toc-link ez-toc-heading-32\" href=\"https:\/\/albermoya.com\/en\/contracts-real-estate-california\/#Impuesto_de_transferencia_de_documentos_Documentary_transfer_tax\" >Documentary transfer tax (Documentary transfer tax)<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-3'><a class=\"ez-toc-link ez-toc-heading-33\" href=\"https:\/\/albermoya.com\/en\/contracts-real-estate-california\/#Impuestos_sobre_casas_moviles_Mobile_homes_taxation\" >Mobile homes taxation (Mobile homes taxation)<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-3'><a class=\"ez-toc-link ez-toc-heading-34\" href=\"https:\/\/albermoya.com\/en\/contracts-real-estate-california\/#Ventas_de_impuestos_Tax_sales\" >Tax sales<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-3'><a class=\"ez-toc-link ez-toc-heading-35\" href=\"https:\/\/albermoya.com\/en\/contracts-real-estate-california\/#Redencion\" >Redemption<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-3'><a class=\"ez-toc-link ez-toc-heading-36\" href=\"https:\/\/albermoya.com\/en\/contracts-real-estate-california\/#Ventas_por_parte_de_personas_extranjeras_Sales_by_foreign_persons\" >Sales by foreign persons (Sales by foreign persons)<\/a><\/li><\/ul><\/li><\/ul><\/nav><\/div>\n<h2><span class=\"ez-toc-section\" id=\"Contratos_entre_el_Broker_y_el_Salesperson_Relacion_y_obligaciones\"><\/span>Contracts between Broker and Salesperson: Relationship and Obligations<span class=\"ez-toc-section-end\"><\/span><\/h2>\n<p>The relationship between a <strong>broker<\/strong> and a <strong>salesperson<\/strong> licensed under that <strong>broker<\/strong> can be established by contract as one of two possibilities: independent contractors or employer and employee. All obligations of the <strong>broker<\/strong> and the <strong>salesperson<\/strong> created under the Real Estate Act or the Commissioner's regulations apply regardless of whether the relationship between the <strong>broker<\/strong> and the <strong>salesperson<\/strong> is that of independent contractors or employer-employee.<\/p>\n<h2><span class=\"ez-toc-section\" id=\"Listing_Agreements\"><\/span><strong>Listing Agreements<\/strong><span class=\"ez-toc-section-end\"><\/span><\/h2>\n<h3><span class=\"ez-toc-section\" id=\"Definiciones_BPC_10027_Ref_105\"><\/span>Definitions (GCP 10027; Ref 105)<span class=\"ez-toc-section-end\"><\/span><\/h3>\n<p>A listing is a written contract whereby a principal employs an agent to perform certain services on behalf of the principal in connection with the sale or lease of real estate, as well as commercial opportunities.<\/p>\n<h3><span class=\"ez-toc-section\" id=\"Requisitos\"><\/span><strong>Requirements<\/strong><span class=\"ez-toc-section-end\"><\/span><\/h3>\n<p>It must include all the essential elements of a<strong> valid contract<\/strong>Competent parties, lawful purpose, mutual agreement, consideration. An agent who has a listing is subject to the law of agency and has certain fiduciary duties to the principal that do not exist between two principals. Under the Statute of Frauds, listings must be in writing; where a written contract does not express the true intent of the parties, the courts will attempt to discover the true intent (Ref 97; CC 1624(5)). An exclusive listing must include a definite termination date (BPC 10176(f)).<\/p>\n<h3><span class=\"ez-toc-section\" id=\"Tipos_Ref_105_158\"><\/span>Types (Ref 105; 158)<span class=\"ez-toc-section-end\"><\/span><\/h3>\n<p>Open, exclusive agency, exclusive right to sell, exclusive authorization to purchase, option, and net price listings are all permitted. In a net price listing, an agent must disclose the amount of compensation before or at the time the principal becomes obligated on the transaction (BPC 10176(g)). The agent is also required to <strong>disclose the sales price to both buyer and seller in writing within one month after closing<\/strong>, this information is considered disclosed by the trustholder&#039;s closing statement (BPC 10141).<\/p>\n<h3><span class=\"ez-toc-section\" id=\"Entrega_del_acuerdo_BPC_10142\"><\/span>Delivery of the agreement (BPC 10142)<span class=\"ez-toc-section-end\"><\/span><\/h3>\n<p>A licensee must provide a copy of the agreement to the person signing it at the time the signature is obtained. This requirement applies equally to listing agreements, purchase contracts, escrow receipt forms, contract addendums, and property management agreements (Ref 508).<\/p>\n<h3><span class=\"ez-toc-section\" id=\"Derecho_a_compensacion_Ref_155\"><\/span>Right to compensation (Ref 155)<span class=\"ez-toc-section-end\"><\/span><\/h3>\n<p>To be enforceable, the listing agreement or other agency agreement must clearly show the obligation to pay compensation to the <strong>broker<\/strong>.<\/p>\n<h2><span class=\"ez-toc-section\" id=\"Advanced_Fee_Agreements_Acuerdos_de_Tarifa_Avanzada\"><\/span>Advanced Fee Agreements<span class=\"ez-toc-section-end\"><\/span><\/h2>\n<h3><span class=\"ez-toc-section\" id=\"Definiciones_Ref_277_BPC_10026_10085_100855_101132_10146\"><\/span>Definitions (Ref 277; GCP 10026, 10085, 10085.5, 10113.2, 10146)<span class=\"ez-toc-section-end\"><\/span><\/h3>\n<p>An advanced fee is a fee claimed or received before fully completing the service that the licensee agreed to perform. Payments for:<\/p>\n<ul>\n<li>security<\/li>\n<li>selection fees<\/li>\n<li>advertising in a medium not controlled by the <strong>broker<\/strong><\/li>\n<li>fees earned under a limited service agreement<\/li>\n<\/ul>\n<h3><span class=\"ez-toc-section\" id=\"Requisitos_de_Escrow_BPC_10146\"><\/span>Escrow Requirements (BPC 10146)<span class=\"ez-toc-section-end\"><\/span><\/h3>\n<p>Funds received as advanced fees must be deposited in a trust account at a bank or other recognized depositary and are subject to trust fund requirements. Deposited funds may be withdrawn for the benefit of the agent only when they have actually been spent for the benefit of the principal or <strong>5 days after accounts verified<\/strong> have been mailed to the principal in accordance with the law. The principal can recover <strong>triple damage<\/strong> for misapplied amounts and is entitled to reasonable attorneys&#039; fees.<\/p>\n<h3><span class=\"ez-toc-section\" id=\"Materiales_y_contabilidad_CCR_2970_2972_BPC_10085\"><\/span>Materials and accounting (CCR 2970, 2972; BPC 10085)<span class=\"ez-toc-section-end\"><\/span><\/h3>\n<p>All materials related to the advanced rate agreement must be submitted to the Commissioner for approval <strong>at least 10 calendar days before use<\/strong>. The materials must:<\/p>\n<ul>\n<li>don&#039;t be deceptive<\/li>\n<li>do not give up verbal commitments<\/li>\n<li>not guarantee successful completion<\/li>\n<li>clearly describe the services<\/li>\n<li>indicate the amount of the fee and when it must be paid<\/li>\n<li>establish a definitive date for the complete fulfillment of the promised services. The content of the accounting must include:<\/li>\n<li>agent name<\/li>\n<li>name of principal<\/li>\n<li>description of the services provided or to be provided<\/li>\n<li>trust fund account identification<\/li>\n<li>advanced fee amount collected<\/li>\n<li>amount allocated or disbursed for services, commissions, overheads, profits<\/li>\n<li>ad copies, number of ads, publication dates and publication details<\/li>\n<li>if applicable, names and addresses of the persons to whom the principal loan requirements were sent and the dates of sending.<\/li>\n<\/ul>\n<h2><span class=\"ez-toc-section\" id=\"Contracts_Contratos\"><\/span><strong>Contracts<\/strong><span class=\"ez-toc-section-end\"><\/span><\/h2>\n<h3><span class=\"ez-toc-section\" id=\"Statuts_of_Frauds_Ref_95-97_CC_1624\"><\/span>Statuts of Frauds (Ref 95-97: CC 1624)<span class=\"ez-toc-section-end\"><\/span><\/h3>\n<p>Certain contracts are invalid unless they are <strong>written<\/strong> and signed by the party to be charged or by his agent, including:<\/p>\n<ul>\n<li>agreements that must not be executed within one year from signature or within the life of the promisor.<\/li>\n<li>leases for a period of more than one year.<\/li>\n<li>contracts for the sale of real estate or interests.<\/li>\n<li>agreements that employ an agent to buy or sell real estate.<\/li>\n<li>agreements that employ an agent to lease real estate for a period of more than one year in exchange for compensation or commission.<\/li>\n<li>agreements of a real estate buyer to assume a mortgage or a\u00a0<em>deed of trust obligation<\/em> unless the assumption is specifically provided for in the conveyance.<\/li>\n<li>commitments to lend money or extend credit in excess of one hundred thousand dollars ($100,000) by a person in the business of lending or credit, unless secured solely by residential properties consisting of one to four dwelling units.<\/li>\n<\/ul>\n<h3><span class=\"ez-toc-section\" id=\"Acta_Uniforme_de_Riesgo_para_el_Vendedor_y_el_Comprador_Ref_104_CC_1662_%E2%80%93_Uniform_Vendor_and_Purchaser_Risk_Act\"><\/span>Uniform Seller and Buyer Risk Act (Ref 104; CC 1662) \u2013 <strong>Uniform Vendor and Purchaser Risk Act<\/strong><span class=\"ez-toc-section-end\"><\/span><\/h3>\n<p>If property is destroyed through no fault of the buyer or is taken by eminent domain before the transfer of title or possession, the seller cannot enforce the contract and the buyer is entitled to recover any part of the price paid. If legal title or possession has been transferred and any part of the property is destroyed through no fault of the seller or is taken by eminent domain, the buyer may be required to complete the transaction and is not entitled to recover any part of the price already paid. .<\/p>\n<h3><span class=\"ez-toc-section\" id=\"Contrato_de_Venta_de_Bienes_Raices_Real_Property_Sales_Contract\"><\/span>Real Property Sales Contract (Real Property Sales Contract)<span class=\"ez-toc-section-end\"><\/span><\/h3>\n<h4><em>\u00a0 \u00a0 \u00a0 \u00a0 \u00a0<\/em><\/h4>\n<h4><em>\u00a0 \u00a0 \u00a0 \u00a0 \u00a0Definitions (BPC 10029, Ref 88)<\/em><\/h4>\n<ul>\n<li>A real estate sales contract is an agreement to transfer title to real estate to another party upon satisfaction of specified conditions and that does not require transfer of title within one year from the date of the contract.<\/li>\n<li>Parties incapable of contracting: Unemancipated minors (under 18 years of age and unmarried, on active military service or emancipated by a court), persons of insane mind, aliens, and persons deprived of civil rights (e.g., convicts).<\/li>\n<li>An offer is an offer by one of the parties to the contract to perform their part of the contract (Ref 106). <em style=\"font-size: 1.3em; font-weight: bold;\">Form<\/em><\/li>\n<li>A model form developed by the <em>California Association of Realtors\u00ae<\/em> with the approval of the DRE, called &quot;<em>California Residential Purchase Agreement and Joint Escrow Instructions<\/em>&quot;, is widely used, although it is not mandatory. <em>Provisions (Ref 102)<\/em><\/li>\n<li>Agreement date.<\/li>\n<li>Names and addresses of the parties.<\/li>\n<li>Property description.<\/li>\n<li>Consideration.<\/li>\n<li>Terms and conditions of existing mortgages, if any.<\/li>\n<li>Date and place of closing of the contract.<\/li>\n<li>Other provisions required by either party.<br \/>\n<h4><em>Earnest money, deposit receipt (Ref 106)<\/em><\/h4>\n<\/li>\n<li>California brokers use an escrow receipt when accepting a down payment with an offer to purchase real estate.<\/li>\n<li>The receipt must contain a complete understanding between the buyer, seller and broker of the disposition and disbursement.<\/li>\n<li>\n<h4><em>Tender (Ref 106)<\/em><\/h4>\n<\/li>\n<li>It is usually done at the time of escrow closing.<\/li>\n<li>If one party defaults, the other party makes the offer.<\/li>\n<li>If litigation arises, the party who made the offer can legitimately claim that the other party defaulted.<\/li>\n<li>If the other party refuses to accept the offer, the party who made the offer may terminate the contract or sue for breach of contract or specific performance.<\/li>\n<\/ul>\n<h2><span class=\"ez-toc-section\" id=\"Title_Transfers_Transferencias_de_Titulo\"><\/span><strong>Title Transfers (Title Transfers)<\/strong><span class=\"ez-toc-section-end\"><\/span><\/h2>\n<h3><span class=\"ez-toc-section\" id=\"Medios_para_adquirir_el_titulo_Ref_106-110\"><\/span>Means of acquiring the title (Ref 106-110)<span class=\"ez-toc-section-end\"><\/span><\/h3>\n<p><strong>Testament (Will):<\/strong> Formal, with witnesses, holographic, statutory, statutory with trust.<\/p>\n<p><strong>Succession (Succession):<\/strong> Separate property or community property.<\/p>\n<p><strong>Accession (Accession):<\/strong> Alluvium, reliction, avulsion, addition of accessories, improvements made by mistake.<\/p>\n<p><strong>Occupancy:<\/strong> Abandonment, prescription, adverse possession.<\/p>\n<p><strong>Transfer (Transfer):<\/strong> Private or public concession, gift, alienation by law or judicial action.<\/p>\n<p><strong>Marriage<\/strong><\/p>\n<p><strong>Escheat (Escheat)<\/strong><\/p>\n<p><strong>Public domain (Eminent Domain)<\/strong><\/p>\n<p><strong>Equitable Estoppel<\/strong><\/p>\n<h3><span class=\"ez-toc-section\" id=\"Seguro_de_titulo_Title_Insurance\"><\/span>Title Insurance<span class=\"ez-toc-section-end\"><\/span><\/h3>\n<p>It protects against many types of unregistered risks, depending on the type of policy purchased. The policy commonly used in California is that of the California Land Title Association (CLTA).<\/p>\n<h3><span class=\"ez-toc-section\" id=\"Titulo_registro_notificacion_Ref_51_CC_2934\"><\/span>Title, registration, notification (Ref 51; CC 2934)<span class=\"ez-toc-section-end\"><\/span><\/h3>\n<p>After being acknowledged (executed before a Notary Public or duly witnessed as required by applicable law), any instrument or judgment affecting title or possession may be registered. An instrument is generally registered when it is duly acknowledged or verified and is deposited in the registrar&#039;s office with the proper officer and marked &quot;presented for registration&quot; (Ref52).<\/p>\n<h3><span class=\"ez-toc-section\" id=\"Preliminary_report_Informe_preliminar_Ref_83-85_Ins_C_123411\"><\/span><strong>Preliminary report<\/strong> (Preliminary report) (Ref 83-85; Ins C 1234.11)<span class=\"ez-toc-section-end\"><\/span><\/h3>\n<p>The title insurance industry typically issues a \u201c<strong>Preliminary report<\/strong> \u00bb instead of a \u00absearch\u00bb or \u00abtitle summary\u00bb. The \u00ab<strong>Preliminary report<\/strong>\u00bb is an offer to issue a title policy subject to stated exceptions, not a representation of the condition of title.<\/p>\n<h2><span class=\"ez-toc-section\" id=\"Mortgages_Deeds_of_Trust_Notes_Hipotecas_Fideicomisos_en_Garantia_Pagos\"><\/span><strong>Mortgages, Deeds of Trust, Notes (Mortgages, Deeds of Trust, Notes)<\/strong><span class=\"ez-toc-section-end\"><\/span><\/h2>\n<p>Mortgages and <em>deeds of trust<\/em> They are functional equivalents under California law. The mortgage or the<em> deeds of trust<\/em> It is the security instrument that establishes the real estate property described as collateral for the debt\/loan or obligations that the promissory note evidences. The promissory note (<em>promissory note<\/em>) is evidence of the debt between the borrower and the lender. It is also the contract that represents the borrower&#039;s promise to pay the lender according to the agreed upon terms.<\/p>\n<p>If there are conflicts between the promissory note and the <em>deed of trust<\/em> wave <em>mortgage<\/em>, generally the terms of the promissory note take priority.<\/p>\n<h2><span class=\"ez-toc-section\" id=\"Leases_Arrendamientos\"><\/span><strong>Leases<\/strong><span class=\"ez-toc-section-end\"><\/span><\/h2>\n<h3><span class=\"ez-toc-section\" id=\"Term_Plazo\"><\/span><strong>Term (Term)<\/strong><span class=\"ez-toc-section-end\"><\/span><\/h3>\n<p>If a lease does not specify its term, a specific period of time will be implied as a matter of law, and the length of that period of time depends on the nature of the lease and the circumstances surrounding it.<\/p>\n<h3><span class=\"ez-toc-section\" id=\"Security_deposit_Deposito_de_seguridad\"><\/span><strong>Security deposit<\/strong><span class=\"ez-toc-section-end\"><\/span><\/h3>\n<p>A security deposit is held by the landlord for the benefit of the depositing tenant, and a tenant&#039;s claim to the security deposit takes priority over the claims of all of the landlord&#039;s creditors, except a bankruptcy trustee.<\/p>\n<p>In a residential lease, the security deposit is refundable, and the tenant cannot waive the right to a refund.<\/p>\n<p>In addition to the first month&#039;s rent, a landlord may require a maximum deposit of:<\/p>\n<ul>\n<li><strong>Two<\/strong> months rent in the case of an unfurnished residential property.<\/li>\n<li><strong>Three<\/strong> months&#039; rent in the case of a furnished residential property.<\/li>\n<li><strong>Six<\/strong> months&#039; rent if the lease term is six months or more.<\/li>\n<\/ul>\n<h3><span class=\"ez-toc-section\" id=\"Obligaciones_del_propietario_Landlord_obligations\"><\/span><strong>Landlord obligations<\/strong><span class=\"ez-toc-section-end\"><\/span><\/h3>\n<p>A residential landlord must maintain the home in habitable condition, including:<\/p>\n<ul>\n<li>Effective waterproofing and weather protection of the roof and exterior walls, including windows and doors without breakage.<\/li>\n<li>Plumbing or gas installations in good working order.<\/li>\n<li>Water supply producing hot and cold running water, provided with suitable fixtures and connected to an approved sewage disposal system in accordance with applicable law.<\/li>\n<li>Heating installations that comply with applicable law at the time of installation and are maintained in good working order.<\/li>\n<li>Electrical lighting, with wiring and electrical equipment that comply with applicable law at the time of installation, and are maintained in good working order.<\/li>\n<li>Building, grounds and fixtures, as well as all areas under the control of the owner, must be kept clean, sanitary and free from accumulations of debris, dirt, trash, debris, rodents and pests.<\/li>\n<li>Adequate containers for trash and rubbish, in clean condition and in good repair.<\/li>\n<li>Floors, stairs and railings must be kept in good repair.<\/li>\n<li>One lockable mailbox for each residential unit in a residential hotel.<\/li>\n<li>One operable smoke detector for each unit.<\/li>\n<\/ul>\n<p>If the landlord fails to maintain a residential property in a condition suitable for human occupancy, the tenant may notify the landlord to repair the premises. If, after receiving notice from the tenant, <strong>the landlord does not make necessary repairs in a reasonable time<\/strong>, the tenant has the statutory right to:<\/p>\n<ul>\n<li>Spend up to one month&#039;s rent on repairs (only twice in any twelve-month period).<\/li>\n<li>Abandon the property, in which case the tenant is exempt from the obligation to pay additional rent and from complying with other conditions of the lease.<\/li>\n<\/ul>\n<h3><span class=\"ez-toc-section\" id=\"Obligaciones_del_inquilino_Tenant_obligations\"><\/span><strong>Tenant obligations (Tenant obligations)<\/strong><span class=\"ez-toc-section-end\"><\/span><\/h3>\n<p>In addition to the obligation to pay rent, the tenant must:<\/p>\n<ul>\n<li>Keep your portion of the property as clean and sanitary as the condition of the property permits (unless the owner has expressly agreed in writing to do so).<\/li>\n<li>Dispose of garbage and household waste in a clean and sanitary manner (unless the owner has expressly agreed in writing to do so).<\/li>\n<li>Properly use plumbing, electrical and gas facilities and maintain them in clean and sanitary condition as their condition permits.<\/li>\n<li>Not intentionally destroy, deface, damage, deteriorate or remove any part of the dwelling structure or unit, fixtures, equipment or fixtures, nor allow any guest of the tenant to do so.<\/li>\n<li>Occupy the property as a home, using only those parts that were designed or intended for such use.<\/li>\n<\/ul>\n<h2><span class=\"ez-toc-section\" id=\"Tax_Aspects_Aspectos_Fiscales\"><\/span><strong>Tax Aspects<\/strong><span class=\"ez-toc-section-end\"><\/span><\/h2>\n<h3><span class=\"ez-toc-section\" id=\"Property_taxes_Impuestos_a_la_propiedad\"><\/span><strong>Property taxes<\/strong><span class=\"ez-toc-section-end\"><\/span><\/h3>\n<p>In California, property taxes are levied based on the value (ad valorem) of the property on the date of acquisition or the date of completion of any new construction.<\/p>\n<ul>\n<li>The Morgan Property Taxpayers&#039; Rights Act gives property owners the right to obtain copies of the appraiser&#039;s documents relating to the appraisal and evaluation of the property owner&#039;s property.<\/li>\n<\/ul>\n<p>Property taxes become liens on January 1 of the year preceding the tax year (July 1 through June 30) for which the taxes are levied.<\/p>\n<ul>\n<li>Half of the real estate tax is due on November 1 and is paid without penalty until December 10.<\/li>\n<li>The second half expires on February 1 and is paid without penalty until April 10.<\/li>\n<\/ul>\n<p>Proposition 13 (1978) amended the State Constitution to limit the maximum annual tax on real estate property to one percent of the &quot;full cash value&quot; (market value), plus a maximum of two percent per year based on the consumer price index (CPI).<\/p>\n<ul>\n<li>An additional amount is allowed for debt on affected property approved by voters prior to the passage of Proposition 13.<\/li>\n<li>Selected new debt is only allowed by a two-thirds vote of affected residents.<\/li>\n<\/ul>\n<p>Proposition 39 (2000) authorizes bonds for the repair, construction or replacement of school facilities if approved by the 55% of local votes.<\/p>\n<p>A homeowner exemption of the first $7,000 of total value applies to each residential property that is owner-occupied on the date of lien and meets other qualifying tests.<\/p>\n<p>Seniors (age 62 or older) and people who are blind or disabled can defer paying taxes on their residences.<\/p>\n<ul>\n<li>Interest is charged and deferred taxes and interest are recovered when the property is sold.<\/li>\n<\/ul>\n<h3><span class=\"ez-toc-section\" id=\"Impuestos_federales_Federal_taxes\"><\/span><strong>Federal taxes<\/strong><span class=\"ez-toc-section-end\"><\/span><\/h3>\n<p>Taxes not paid to the Internal Revenue Service become a general tax lien on all property and property rights of the taxpayer, including those acquired after the lien arises.<\/p>\n<p>In addition to the general tax levy, the Internal Revenue Code establishes special levies for estate and gift taxes.<\/p>\n<p>Exemption from income tax on the sale of a home: $250,000 for a single person, $500,000 for joint filers, excluded from income if residency and other conditions are met.<\/p>\n<p>Estate tax: As of 2016, there is an exemption for estates valued at less than $5,450,000.<\/p>\n<ul>\n<li>The excess is subject to a 40% tax rate.<\/li>\n<\/ul>\n<h3><span class=\"ez-toc-section\" id=\"Evaluaciones_especiales_Special_assessments\"><\/span><strong>Special assessments<\/strong><span class=\"ez-toc-section-end\"><\/span><\/h3>\n<p>Special assessments may be periodic for improvement districts or levied only once by the city or county for a particular job or improvement.<\/p>\n<p>Liens created by special assessments typically have the same priority as general tax liens.<\/p>\n<h3><span class=\"ez-toc-section\" id=\"Impuestos_estatales_State_taxes\"><\/span><strong>State taxes<\/strong><span class=\"ez-toc-section-end\"><\/span><\/h3>\n<p>Any tax liability that is due constitutes a state tax lien due on all real property located in this state.<\/p>\n<h3><span class=\"ez-toc-section\" id=\"Impuesto_de_transferencia_de_documentos_Documentary_transfer_tax\"><\/span><strong>Documentary transfer tax (Documentary transfer tax)<\/strong><span class=\"ez-toc-section-end\"><\/span><\/h3>\n<p>Counties may apply a document transfer tax to transfers of real estate located in the county.<\/p>\n<ul>\n<li>The tax is calculated at a rate of 55 cents per $500 of consideration or fraction thereof.<\/li>\n<li>The payment advice is entered on the document itself or on a separate paper recorded with the document.<\/li>\n<\/ul>\n<p>The amount of a city transfer tax is set at half the rate charged by the county.<\/p>\n<ul>\n<li>The county collects the entire tax, but gives half of the amount collected to the city.<\/li>\n<\/ul>\n<h3><span class=\"ez-toc-section\" id=\"Impuestos_sobre_casas_moviles_Mobile_homes_taxation\"><\/span><strong>Mobile homes taxation (Mobile homes taxation)<\/strong><span class=\"ez-toc-section-end\"><\/span><\/h3>\n<p>Mobile homes and manufactured homes are subject to local property taxes under prescribed circumstances.<\/p>\n<p>If the mobile home is subject to property taxes, sales or use taxes do not apply.<\/p>\n<h3><span class=\"ez-toc-section\" id=\"Ventas_de_impuestos_Tax_sales\"><\/span><strong>Tax sales<\/strong><span class=\"ez-toc-section-end\"><\/span><\/h3>\n<p>County tax collectors are responsible for administering the sale of \u201ctax-delinquent\u201d properties when five or more years have passed since property taxes were paid.<\/p>\n<ul>\n<li>The tax collector must attempt to sell non-taxable properties that are subject to the power of sale within two years.<\/li>\n<li>The minimum price at which a property can be sold at public auction is the sum of all taxes, penalties, costs and fees.<\/li>\n<\/ul>\n<h3><span class=\"ez-toc-section\" id=\"Redencion\"><\/span><strong>Redemption<\/strong><span class=\"ez-toc-section-end\"><\/span><\/h3>\n<p>Real property in default of taxes can be redeemed by paying taxes, interest, redemption costs and penalties.<\/p>\n<p>Any person may elect to pay back taxes in installments at any time before 5 pm on June 30 of the fifth year after the property became delinquent on taxes.<\/p>\n<h3><span class=\"ez-toc-section\" id=\"Ventas_por_parte_de_personas_extranjeras_Sales_by_foreign_persons\"><\/span><strong>Sales by foreign persons (Sales by foreign persons)<\/strong><span class=\"ez-toc-section-end\"><\/span><\/h3>\n<p>Special federal and state tax withholding requirements apply to sales where the seller is neither a U.S. citizen nor a resident foreigner.<\/p>\n<ul>\n<li>The federal law is the Foreign Investment in Real Property Tax Act (FIRPTA).<\/li>\n<li>California&#039;s law is known as CAL-FIRPTA.<\/li>\n<\/ul>\n<p>Under both laws, a portion of the sales price must be withheld by the buyer and paid as estimated tax on behalf of the seller.<\/p>","protected":false},"excerpt":{"rendered":"<p>Contratos entre el Broker y el Salesperson: Relaci\u00f3n y obligaciones La relaci\u00f3n entre un broker y un salesperson con licencia bajo ese broker puede establecerse mediante contrato como una de dos posibilidades: contratistas independientes o empleador y empleado. Todas las obligaciones del broker y el salesperson creadas bajo la Ley de Bienes Ra\u00edces o las [&hellip;]<\/p>\n","protected":false},"author":2,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"site-sidebar-layout":"default","site-content-layout":"default","ast-site-content-layout":"","site-content-style":"default","site-sidebar-style":"default","ast-global-header-display":"","ast-banner-title-visibility":"","ast-main-header-display":"","ast-hfb-above-header-display":"","ast-hfb-below-header-display":"","ast-hfb-mobile-header-display":"","site-post-title":"","ast-breadcrumbs-content":"","ast-featured-img":"","footer-sml-layout":"","theme-transparent-header-meta":"default","adv-header-id-meta":"","stick-header-meta":"","header-above-stick-meta":"","header-main-stick-meta":"","header-below-stick-meta":"","astra-migrate-meta-layouts":"default","ast-page-background-enabled":"default","ast-page-background-meta":{"desktop":{"background-color":"","background-image":"","background-repeat":"repeat","background-position":"center center","background-size":"auto","background-attachment":"scroll","background-type":"","background-media":"","overlay-type":"","overlay-color":"","overlay-opacity":"","overlay-gradient":""},"tablet":{"background-color":"","background-image":"","background-repeat":"repeat","background-position":"center center","background-size":"auto","background-attachment":"scroll","background-type":"","background-media":"","overlay-type":"","overlay-color":"","overlay-opacity":"","overlay-gradient":""},"mobile":{"background-color":"","background-image":"","background-repeat":"repeat","background-position":"center center","background-size":"auto","background-attachment":"scroll","background-type":"","background-media":"","overlay-type":"","overlay-color":"","overlay-opacity":"","overlay-gradient":""}},"ast-content-background-meta":{"desktop":{"background-color":"var(--ast-global-color-5)","background-image":"","background-repeat":"repeat","background-position":"center center","background-size":"auto","background-attachment":"scroll","background-type":"","background-media":"","overlay-type":"","overlay-color":"","overlay-opacity":"","overlay-gradient":""},"tablet":{"background-color":"var(--ast-global-color-5)","background-image":"","background-repeat":"repeat","background-position":"center center","background-size":"auto","background-attachment":"scroll","background-type":"","background-media":"","overlay-type":"","overlay-color":"","overlay-opacity":"","overlay-gradient":""},"mobile":{"background-color":"var(--ast-global-color-5)","background-image":"","background-repeat":"repeat","background-position":"center center","background-size":"auto","background-attachment":"scroll","background-type":"","background-media":"","overlay-type":"","overlay-color":"","overlay-opacity":"","overlay-gradient":""}},"footnotes":""},"categories":[95],"tags":[238,192,121],"class_list":["post-7382","post","type-post","status-publish","format-standard","hentry","category-general","tag-acuerdos","tag-contratos","tag-title-insurance"],"acf":[],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v27.3 - https:\/\/yoast.com\/product\/yoast-seo-wordpress\/ -->\n<title>Acuerdos, Contratos &amp; Title Transfers en Real Estate en California<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/albermoya.com\/en\/contracts-real-estate-california\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Acuerdos, Contratos &amp; Title Transfers en Real Estate en California\" \/>\n<meta property=\"og:description\" content=\"Contratos entre el Broker y el Salesperson: Relaci\u00f3n y obligaciones La relaci\u00f3n entre un broker y un salesperson con licencia bajo ese broker puede establecerse mediante contrato como una de dos posibilidades: contratistas independientes o empleador y empleado. 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