California Civil Code §1102.2 exempts certain property transfers from the TDS requirement. A seller is trying to determine whether the TDS applies to their transaction. Which of the following transfers is most likely to present a genuine legal question about whether a TDS exemption applies?
Correct Answer
A) A transfer by a co-owner to the other co-owner of the same property, where both parties have lived in the home for five years
A transfer between co-owners is not expressly listed as an exempt transaction under Civil Code §1102.2. While the parties share ownership history and familiarity with the property, that familiarity does not create a statutory exemption. This scenario presents a genuine legal question because practitioners may incorrectly assume co-owner transfers are exempt due to the parties' shared knowledge — but the statute does not carve out this category, making the TDS applicable.
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Previous Question
A California seller delivers the TDS to a buyer before the buyer signs the purchase agreement. After the buyer signs, the seller discovers a cracked sewer line and sends an amended TDS by mail on Monday. Under California law, when does the buyer's new rescission period expire?
Next Question
Frank, a listing agent in Santa Clara, asks the seller when the TDS must be delivered to the buyer. Under California Civil Code §1102.3, the TDS must be delivered: