Head’s up: another change to the TDS coming in 2014.
California Civil Code §1102.6
Amended by S.B. 652
Effective date: July 1, 2014
Beginning July 1, 2014, the statutory Real Estate Transfer Disclosure Statement (TDS) is to include a disclosure about the existence of seller claims for damages stemming from construction defects in the property.
The TDS is amended to read (changes are shown in italics):
16. Any lawsuits by or against the Seller threatening to or affecting this real property, claims for damages by the seller pursuant to Section 910 or 914 threatening to or affecting this real property, claims for breach of warranty pursuant to Section 900 threatening to or affecting this real property , or claims for breach of an enhanced protection agreement pursuant to Section 903 threatening to or affecting this real property, including any lawsuits or claims for damages pursuant to Section 910 or 914 alleging a defect or deficiency in this real property or ‘common areas’ (facilities such as pools, tennis courts, walkways , or other areas co-owned in undivided interest with others)
Editor’s note— first tuesday Form 304 – Condition of Property Transfer Disclosure Statement (TDS) has been updated to reflect these changes.