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The law was amended a few years later to include a disclosure obligation for real estate licensees. The act was called the Alquist-Priolo State Special Studies Zone Act prior to 1994. The act was amended September 26, 1974; May 4, 1975; September 28, 1975; September 22, 1976; September 27, 1979; September 21, 1990; and July 29, 1991.
The California Real Estate Act has two core components: licensing and enforcement. [1] [2] Both licensing and enforcement functions are required by the Appraisal Subcommittee (ASC), the federal government organization which oversees all state real estate appraiser licensing agencies. [2]
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Many jurisdictions recognize several forms of stigmatized property, and have passed resolutions or statutes to deal with them. One issue that separates them is disclosure. Depending on the jurisdiction of the house, the seller may not be required to disclose the full facts. Some specific types must always be disclosed, others are up to the ...
In the United States, a seller disclosure statement is a form disclosing the seller's knowledge of the condition of the property. The seller disclosure notice or statement is anecdotal and does not serve as a substitute for any inspections or warranties the purchaser may wish to obtain. It also does not serve as a warranty of any kind. [1]
California's "Shine the Light" law (CA Civil Code § 1798.83 [1] [2]) is a privacy law passed by the California State Legislature in 2003. It became an active part of the California Civil Code on January 1, 2005.