(a) The seller of any real property subject to this article shall deliver to the prospective buyer the written statement required by this article, as follows:

(1) In the case of a sale, as soon as practicable before transfer of title.

Terms Used In California Civil Code 1103.3

  • Amendment: A proposal to alter the text of a pending bill or other measure by striking out some of it, by inserting new language, or both. Before an amendment becomes part of the measure, thelegislature must agree to it.
  • Contract: A legal written agreement that becomes binding when signed.
  • Lease: A contract transferring the use of property or occupancy of land, space, structures, or equipment in consideration of a payment (e.g., rent). Source: OCC
  • property: includes property real and personal. See California Civil Code 14
  • Real property: Land, and all immovable fixtures erected on, growing on, or affixed to the land.

(2) In the case of a sale by a real property sales contract, as defined in Section 2985, or by a lease together with an option to purchase, or a ground lease coupled with improvements, as soon as practicable before the prospective buyer’s execution of the contract. For the purpose of this subdivision, “execution” means the making or acceptance of an offer.

(b) The seller shall indicate compliance with this article either on the real property sales contract, the lease, any addendum attached thereto, or on a separate document.

(c) If any disclosure, or any material amendment of any disclosure, required to be made pursuant to this article is delivered after the execution of an offer to purchase, the prospective buyer shall have three days after delivery in person, five days after delivery by deposit in the mail, or five days after delivery of an electronic record in transactions where the parties have agreed to conduct the transaction by electronic means, pursuant to provisions of the Uniform Electronic Transactions Act (Title 2.5 (commencing with Section 1633.1) of Part 2 of Division 3), to terminate his or her offer by delivery of a written notice of termination to the seller or the seller’s agent.

(Amended by Stats. 2018, Ch. 907, Sec. 23. (AB 1289) Effective January 1, 2019.)

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