A buyer in California submits an offer on a property in Ventura using the CAR Residential Purchase Agreement. The offer is made through electronic signatures using DocuSign. The seller's agent questions whether electronic signatures are legally valid for California real estate contracts. What should the listing agent advise?
Correct Answer
A) Electronic signatures are valid for California real estate contracts under the Uniform Electronic Transactions Act (UETA) adopted by California
California adopted the Uniform Electronic Transactions Act (UETA) under California Civil Code §1633.1-1633.17. Under this law, electronic signatures have the same legal effect as handwritten signatures for real estate transactions, provided both parties consent to conduct business electronically.
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Related Topics & Key Terms
Key Terms:
Related Concepts
Contingencies are conditions written into a real estate contract that must be met before the transaction can close. If a contingency is not satisfied, the buyer can typically cancel the contract without penalty.
Contract termination occurs when a contract is ended or discharged, releasing both parties from their obligations. A contract can be terminated through performance, mutual agreement, operation of law, or breach.
A counteroffer is a response to an original offer that changes one or more terms of the offer, effectively rejecting the original offer and creating a new offer. The party who makes the counteroffer becomes the new offeror.
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