If a borrower has a home equity line of credit (HELOC) secured by a lien on his or her house, the HELOC loan is supposed to be closed and not drawn on during the sale or refinancing of the house.
Real Estate Tips
2015 California Real Estate Laws: Document Bundling Prohibited by HOAs
This post is part of a series about new 2015 California Real Estate laws. Click here to see the series. Document Bundling Prohibited by HOAs: Sellers must now pay all fees This California Association of Realtors (CAR) sponsored bill prohibits the practice of document bundling (requiring the purchase of a package of documents together with the […]
2015 Real Estate Law: Debtor retains right to redeem property after sale beyond 90 day period
This is part of our series about new 2015 California Real Estate laws. Click here to see the series. In 1982 the legislature wrote into code the Enforcement of Judgments Law which says that a sale of real property pursuant to execution sale regarding enforcement of judgments is absolute and may not be set aside. As a safeguard, […]
2015 California Real Estate Laws: No Shill Bidding At Real Estate Auctions
This is part of our series about new 2015 California Real Estate laws. Click here to see the series. This new law prohibits anyone from causing or allowing any person to bid at a sale for the sole purpose of increasing the bid on any real property being sold by the auctioneer. An auctioneer or another […]
2015 Real Estate Laws: Solar Energy Property Tax Exclusion Extended
This is part of our series about new 2015 California Real Estate laws. Click here to see the series. SOLAR ENERGY PROPERTY TAX EXCLUSION EXTENDED This California law extends a solar tax exemption for new active solar energy systems until 2025. The existing law (set to expire in 2017) bars property tax increases based upon the […]
2015 California Real Estate Laws: Purchase price is no longer a secret
This post is part of a series about new 2015 California Real Estate laws. Click here to see the series. California Real Estate Laws: Documentary Transfer Tax – Purchase price is no longer a secret This law repeals the right of a principal buyer to request that the transfer tax be shown on a separate document, thus shielding it from […]