Proposition 90 is a local-option law whereby each county has the option of participating by accepting transfers of property tax base assessments from other California counties. Prop 90 is a variation of Prop 60 which allows seniors, under certain circumstances, to keep their property tax base assessment when they move within the same county. Prop 90 is for transfers to a different county. For more detailed information about Prop 60 and Prop 90, see the Legal Q&A, Property Tax Exemptions from Reassessment (Section II).
Member Legal Services has published a revised legal article, Federal Lead-Based Paint Renovation Rule (March 15, 2010). It is available on Legal's What's New, the Legal Articles pages, and the 2010 Q&As page on C.A.R. Online. This Legal Q&A has been substantively updated to reflect the latest regulatory changes that go into effect by April 22, 2010. Previously called the “Federal Lead-Based Paint Pre-Renovation Education Rule,” to reflect the fact that the only requirement years ago when commencing renovations that would disturb painted surfaces was to provide an educational brochure to owners and occupants of affected housing. The latest rule found in 40 CFR Part 75 also establishes requirements for training, certification, work practices, and record keeping. The regulation impacts not only building contractors but also residential landlords and property managers.
Member Legal Services has published a new legal article, Short Sale Tips For REALTORS® (March 16, 2010). It is available on Legal's What's New, the Legal Articles pages, and the 2010 Q&As page on C.A.R. Online. This legal article provides helpful information to prepare a listing or selling agent in handling and avoiding some of the pitfalls of a short sale.