BILL NUMBER: SB 504	CHAPTERED  06/30/06

	CHAPTER  51
	FILED WITH SECRETARY OF STATE  JUNE 30, 2006
	APPROVED BY GOVERNOR  JUNE 30, 2006
	PASSED THE ASSEMBLY  JUNE 19, 2006
	PASSED THE SENATE  JANUARY 26, 2006
	AMENDED IN SENATE  JANUARY 19, 2006
	AMENDED IN SENATE  JANUARY 4, 2006
	AMENDED IN SENATE  APRIL 12, 2005
	AMENDED IN SENATE  MARCH 31, 2005

INTRODUCED BY   Senator Torlakson

                        FEBRUARY 18, 2005

   An act to amend Section 2985 of the Civil Code, relating to real
property sales contracts, and declaring the urgency thereof, to take
effect immediately.



	LEGISLATIVE COUNSEL'S DIGEST


   SB 504, Torlakson  Real property sales contracts.
   Existing law defines "real property sales contract" for purposes
of provisions regulating, among other things, the transfer of real
property sales contracts and the encumbering of real property sold
under unrecorded real property sales contracts, and provisions
specifying the required contents of real property sales contracts.
The violation of these provisions is a crime.
   This bill would provide, for purposes of these provisions, that a
real property sales contract does not include a contract for purchase
of an attached residential condominium unit entered into pursuant to
a conditional public report issued by the Department of Real Estate,
as specified.
  This bill would declare that it is to take effect immediately as an
urgency statute.


THE PEOPLE OF THE STATE OF CALIFORNIA DO ENACT AS FOLLOWS:


  SECTION 1.  Section 2985 of the Civil Code is amended to read:
   2985.  (a) A real property sales contract is an agreement in which
one party agrees to convey title to real property to another party
upon the satisfaction of specified conditions set forth in the
contract and that does not require conveyance of title within one
year from the date of formation of the contract.
   (b) For purposes of this chapter only, a real property sales
contract does not include a contract for purchase of an attached
residential condominium unit entered into pursuant to a conditional
public report issued by the Department of Real Estate pursuant to
Section 11018.12 of the Business and Professions Code.
  SEC. 2.  This act is an urgency statute necessary for the immediate
preservation of the public peace, health, or safety within the
meaning of Article IV of the Constitution and shall go into immediate
effect. The facts constituting the necessity are:
   To avoid subjecting developers to criminal liability for
unknowingly violating Chapter 2c (commencing with Section 2985) of
Title 14 of Part 4 of Division 3 of the Civil Code.