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AB 807

Civil Code §§ 1098, 1098.5, and 1102.6e

Notice of Recordation Fees

This bill specifies that the required information on a recorded document must include the method for calculating the amount of the transfer fee, if not a flat amount or a percentage of the sales price, and include the actual dollar examples of the fee for a residential property if the amount of the fee is based on the price of the real property. The bill also requires the transferor of residential real property subject to transfer fees to make the specified disclosure regarding those fees if the recorded document describing the transfer fees has not already been provided. The bill also clarifies the definition of a transfer fee and specifies that the information must be set forth in a single document and may not be incorporated by reference from any other document.

Categories: Legislation