Amended in Assembly June 17, 2014

Senate BillNo. 1051


Introduced by Senator Galgiani

(Coauthor: Assembly Member Garcia)

February 18, 2014


An act tobegin delete amendend deletebegin insert repealend insert Section 1103.23 of the Civil Code, relating to real property.

LEGISLATIVE COUNSEL’S DIGEST

SB 1051, as amended, Galgiani. Buyer’s Choice Act.

Existing law, the Buyer’s Choice Act, prohibits a mortgagee or beneficiary under a deed of trust who acquired title to residential real property improved by 4 or fewer dwelling units at a foreclosure sale from requiring, directly or indirectly, as a condition of selling the property, that the buyer purchase title insurance or escrow services in connection with the sale from a particular title insurer or escrow agent. Under existing law, a seller who violates these provisions is liable to the buyer for an amount equal to 3 times all the charges made for the title insurance or escrow services. Existing law makes the act operative until January 1, 2015.

This bill wouldbegin delete extend the operation ofend deletebegin insert delete the repeal ofend insert these provisionsbegin delete to January 1, 2019end deletebegin insert, thereby making them operate indefinitelyend insert.

Vote: majority. Appropriation: no. Fiscal committee: no. State-mandated local program: no.

The people of the State of California do enact as follows:

begin deleteP1    1

SECTION 1.  

Section 1103.23 of the Civil Code is amended
2to read:

P2    1

1103.23.  

 This article shall remain in effect only until January
21, 2019, and as of that date is repealed, unless a later enacted
3statute, that is enacted before January 1, 2019, deletes or extends
4that date.

end delete
5begin insert

begin insertSECTION 1.end insert  

end insert

begin insertSection 1103.23 of the end insertbegin insertCivil Codeend insertbegin insert is repealed.end insert

begin delete
6

1103.23.  

This article shall remain in effect only until January
71, 2015, and as of that date is repealed, unless a later enacted
8statute, that is enacted before January 1, 2015, deletes or extends
9that date.

end delete


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