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| June 2022
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In This Issue |
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SACRAMENTO REPORT
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INDUSTRY NEWS
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COURT CASES
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Additional obligations resulting from the enactment of last year’s Assembly Bill 1466 (McCarty), which made changes to California law related to restrictive covenant modification forms (RCMs) and will require revisions to ...
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Senate Judiciary Committee Advances CLTA's Anti-Fraud Legislation; Golf Course to Housing Legislation Fades
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The new California Privacy Protection Agency began an important new chapter on April 21, 2022, when rulemaking authority under the California Consumer Privacy Act (CCPA) formally transferred to the Agency, pursuant to ...
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A California State Senate Budget Subcommittee is considering the “California Dream for All” program, which is intended to address housing affordability and help families—particularly first-generation homebuyers and those from ...
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The American Land Title Association reported that the title insurance industry generated $5.89 billion in title insurance premiums during the first quarter of 2022 compared to $5.68 billion during the same period a year ago. California was ...
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A successful petition by a coalition of labor unions and other organizations was turned in to the Los Angeles City Clerk to create a tax on real property sales over a specified price. The proposal would impose a 4% tax on ...
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The results of Freddie Mac’s Primary Mortgage Market Survey (PMMS), last week showed the 30-year fixed-rate mortgage (FRM) averaging 5.78 percent, not including closing costs. ...
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First American Financial has announced that Marsha Spence has been appointed to the company’s Board of Directors. Marsha was the President of the CLTA for 2005-2006 and served for 10 years on CLTA’s Board of Governors. Marsha currently ...
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On June 1 the California Supreme Court denied a petition for review of a Court of Appeal opinion that ruled that the City and County of S.F. were not bound by the California-wide real estate transfer tax but could adopt its own ...
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Canyon Vineyard Estates v. DeJoria (B307176). A property owner conveyed fee title, and included in the grant deed a deed restriction requiring the land to remain in its open space condition. The deed provided for a power of termination in the event the restriction was violated. ...
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XPO Logistics Freight v. Hayward Property (A157687). In the published portion of the opinion, the court held that where there is a conflict in a deed between the legal description and the assessor's parcel number, the legal description controls. The court cited R&TC Section 11911.1, which provides ...
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People v. Miller (A161601). The court held that the trial court's decision to rule that a forged deed was void under Penal Code Section 115(e), rather than waiting for the resolution of a pending quiet title action, was well within the court's discretion.
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Soleimany v. Narimanzadeh (B304644). The court explained that if a promissory note evidencing a loan stipulates a usurious rate of interest (that is, a rate in violation of the limits set by article XV, section 1 of the California Constitution) the interest provision is void, and the ...
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