California Business and Professions Code

§ 11013.6

BPC § 11013.6 Effective Jan 1, 2022Div. 4 · Part 2 · Ch. 1 · Art. 2

Statute text

Notwithstanding Sections 11013.1 and 11013.2, an individual interest in a stock cooperative, as defined in Section 4190 of the Civil Code, or a limited-equity housing cooperative, as defined in Section 817 of the Civil Code, may be sold or leased subject to a blanket encumbrance if all of the following conditions are met:

(a)The notice required pursuant to Section 1133 of the Civil Code is provided to each prospective purchaser and lessee of the interest and is included in every purchase and lease contract.

(b)The property subject to the sale or lease has obtained a public report from the Department of Real Estate that accounts for the blanket encumbrance.

…

Legislative history

Amended by Stats. 2021, Ch. 431, Sec. 34. (SB 800) Effective January 1, 2022.