Dave Tanner
The only forms required to be used in place of the old version of the forms are the new TDS and MHTDS forms which must be used for all transactions closing after January 1, 2011. The reason this form is mandatory is that the new disclosure law for the existence of carbon monoxide detectors is effective as of that date. In section II A is a box for the seller to check showing that CO2 detectors are present and in Section II B is a disclaimer that the CO2 detector may not meet current safety standards. The MHTDS has similar revisions. The new TDS and MHTDS also incorporate the smoke detector and water heater certifications in Section II D of the TDS. For all transactions where the Seller completes the new TDS there will be no need to use the separate smoke detector and/or water heater disclosure forms. Those forms may still be used for transactions where the Seller does not complete the TDS. C.A.R. has also released a new form titled Short Sale Information Advisory, SSIA, to replace the old SSL. This is not a mandatory change but use of the SSIA should provide the broker more protection than use of the SSL. C.A.R. form SSA has been revised to clarify the lender approval contingency. C.A.R. forms FLD, SBSA, SPQ and SA have been revised to include references to the new lead paint renovation rules. The SPQ also has a question added in reference to architectural committees and the SBSA has sections added or modified regarding golf course disclosures, formaldehyde, zone maps, high speed rail, legal action, the internet and social media and product recalls. There also are minor changes to forms BRE, CA, HOA, NCPA, RLA, REO, REOL and WHSD. Although use of the new and revised forms is optional, except for the TDS and MHTDS, you are strongly encouraged to use the new forms as soon as they are available. All of the changes made are designed to provide greater protection for you and/or your client. If you have any questions on this article or any other aspect of real estate law please contact me at 916 447-9181.