Tom Harman
- Republican
Author
Existing law permits a person to record an option to purchase real property in the chain of title for that property. Existing law provides that the option expires of record, within specified times, if no conveyance, contract, or other instrument giving notice of the exercise or extension of the option is recorded. This bill would provide, absent a conveyance, contract, or other instrument giving notice of the exercise or extension of an option, that if the expiration date of the option is ascertainable from the recorded instrument, the option expires 6 months after that expiration date. The bill would further provide that if the expiration date of the option is not ascertainable from the recorded instrument, or the recorded instrument indicates that the option provides no expiration date, the option expires 6 months after the date the instrument that creates or gives constructive notice of the option is recorded. These provisions would become operative on January 1, 2013. The bill would also make a technical correction.
Chaptered by Secretary of State. Chapter 46, Statutes of 2011.
Approved by the Governor.
Enrolled and presented to the Governor at 3:30 p.m.
In Senate. Ordered to engrossing and enrolling.
Read third time. Passed. (Ayes 75. Noes 0. Page 1997.) Ordered to the Senate.
Read second time. Ordered to consent calendar.
From committee: Do pass. Ordered to consent calendar. (Ayes 10. Noes 0.) (June 14).
In Assembly. Read first time. Held at Desk.
Read third time. Passed. (Ayes 36. Noes 0. Page 568.) Ordered to the Assembly.
Read second time and amended. Ordered to consent calendar.
From committee: Do pass as amended. Ordered to consent calendar. (Ayes 4. Noes 0. Page 494.) (March 29).
Set for hearing March 29.
From printer. May be acted upon on or after March 17.
Introduced. Read first time. To Com. on RLS. for assignment. To print.
| Bill Text Versions | Format |
|---|---|
| SB284 | HTML |
| 02/14/11 - Introduced | |
| 04/05/11 - Amended Senate | |
| 06/21/11 - Enrolled | |
| 07/01/11 - Chaptered |
| Document | Format |
|---|---|
| No related documents. |
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