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Practice Of Real Estate DisclosuresMello_roos_and_special_taxesEASY

Under California law, when is a seller required to disclose the existence of a Mello-Roos special tax on the property?

Correct Answer

D) Before the transfer of title, as part of the statutory disclosure package under Cal. Civil Code §1102.6b

Under California Civil Code §1102.6b, the seller must provide written disclosure of the Mello-Roos special tax before the transfer of title, as part of the statutory disclosure package. The disclosure must include the amount of the tax and the expected duration.

Answer Options
A
Only if the buyer asks about special taxes during the transaction
B
Only if the Mello-Roos tax exceeds $5,000 per year
C
Within 30 days after the close of escrow is completed
D
Before the transfer of title, as part of the statutory disclosure package under Cal. Civil Code §1102.6b

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Related Topics & Key Terms

Key Terms:

mello_roosdisclosuretimingbefore_transferCal_Civil_Code_1102.6b

Related Concepts

Mold disclosure involves informing buyers about the presence of mold or conditions that are conducive to mold growth in a property. While no federal mold disclosure law exists, many states require disclosure of known mold issues.

A property condition disclosure is a written statement by the seller detailing the known condition of the property, including defects, repairs, and issues with major systems. Most states require sellers to complete this form.

Protected classes are groups of people who are legally shielded from discrimination based on specific characteristics.

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